发布求助
文献互助 智能选刊 最新文献

Journal of Housing Economics最新文献

筛选
英文 中文
Can landlords siphon housing allowances? New theory and evidence on housing allowance algorithms from a natural experiment 房东能抽走住房补贴吗？住房补贴算法的新理论和自然实验证据
IF 2.4 3区 经济学
Journal of Housing Economics Pub Date : 2023-09-01 DOI: 10.1016/j.jhe.2023.101948
Wasay Majid
{"title":"Can landlords siphon housing allowances? New theory and evidence on housing allowance algorithms from a natural experiment","authors":"Wasay Majid","doi":"10.1016/j.jhe.2023.101948","DOIUrl":"https://doi.org/10.1016/j.jhe.2023.101948","url":null,"abstract":"<div><p>This paper provides new evidence on the incidence and theoretical predictions of housing allowances. It offers a comprehensive reexamination of allowance algorithms, to shed light on their objectives and impacts, while also addressing empirical modelling considerations and identifying limitations in literature. Notably, it offers readers a comparative analysis by investigating US vouchers as a reference point. Theoretically, I find housing allowances are typically neither a price nor income equivalent. Housing allowance schemes,mostly being universal in functional form across countries, manifest as <em>personal subsidies</em><span> inverse to resources i.e., some benefit amount minus income deduction. I discover that New Zealand's Accommodation Supplement (AS) manifests as a negative income and wealth<span><span> tax benefit which, over time, is regressive to rents and incomes. Empirically, I estimate the effects of an increase in costs and demand for the AS on rents exploiting a panel of housing markets geocoded using census tracts at Area Unit (AU) level. The rent model extends, using Geographically Weighted Panel Regression (GWR) to control for any time-variant neighborhood </span>spillover effects on rents. Costing NZ$ 5.225 billion over 2006–2013, AS for renters was not demand deterministic and had no significant direct impact on the revenues of low-income landlords. An increase in subsidy demand coincides with possible overcrowding whereas has no impact on increasing rental supply or a move into renting.</span></span></p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"61 ","pages":"Article 101948"},"PeriodicalIF":2.4,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50193953","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Credit supply, homeownership and mortgage debt 信贷供应、住房所有权和抵押贷款债务
IF 2.4 3区 经济学
Journal of Housing Economics Pub Date : 2023-09-01 DOI: 10.1016/j.jhe.2023.101947
Ahmet Ali Taşkın , Fırat Yaman
{"title":"Credit supply, homeownership and mortgage debt","authors":"Ahmet Ali Taşkın ,&nbsp;Fırat Yaman","doi":"10.1016/j.jhe.2023.101947","DOIUrl":"10.1016/j.jhe.2023.101947","url":null,"abstract":"<div><p>We analyze the effect of credit supply<span> on households’ homeownership and home equity outcomes. Banking deregulation together with states’ autonomy to limit deregulation provides an exogenous shift in credit supply which shows variation across states and time. We find that a shift from full to no regulation increases the probability of homeownership by one percentage point, and of having a mortgage by two percentage points, explaining up to 43% of the increase in homeownership and the share of households with mortgages. Mortgage debt increases by up to 20%. Household leverage and debt exposure measured as debt to income ratio increase slightly for households outside of MSAs.</span></p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"61 ","pages":"Article 101947"},"PeriodicalIF":2.4,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41589613","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Does homeownership hinder labor market activity? Evidence from housing privatization and restitution 拥有住房会阻碍劳动力市场活动吗？住房私有化和归还的证据
IF 2.4 3区 经济学
Journal of Housing Economics Pub Date : 2023-09-01 DOI: 10.1016/j.jhe.2023.101949
Štěpán Mikula , Josef Montag
{"title":"Does homeownership hinder labor market activity? Evidence from housing privatization and restitution","authors":"Štěpán Mikula ,&nbsp;Josef Montag","doi":"10.1016/j.jhe.2023.101949","DOIUrl":"https://doi.org/10.1016/j.jhe.2023.101949","url":null,"abstract":"<div><p>We study whether homeownership hinders labor force participation and increases unemployment. Using a unique dataset from the city of Brno, Czech Republic, we exploit housing reforms that followed the Velvet Revolution, and the subsequent fall of communism, as a source of exogenous assignment of homeownership. Across several estimation approaches, we do not find any evidence of homeownership hindering labor market activity. The estimated effects on labor force participation are around zero and our estimates for unemployment suggest that homeownership reduces it by four to six percentage points. Homeownership thus appears to benefit labor market performance.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"61 ","pages":"Article 101949"},"PeriodicalIF":2.4,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50193906","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Political uncertainty and housing markets 政治不确定性和房地产市场
IF 2.4 3区 经济学
Journal of Housing Economics Pub Date : 2023-09-01 DOI: 10.1016/j.jhe.2023.101952
Van Nguyen , Carles Vergara-Alert
{"title":"Political uncertainty and housing markets","authors":"Van Nguyen ,&nbsp;Carles Vergara-Alert","doi":"10.1016/j.jhe.2023.101952","DOIUrl":"10.1016/j.jhe.2023.101952","url":null,"abstract":"<div><p>This paper examines the causal effects of political uncertainty on housing markets. We used US gubernatorial elections from 1982 to 2018 as a source of exogenous variation in political uncertainty and exploited the regional variations in residential housing markets. We used neighboring states without elections and counties at the state borders without elections as control groups. We found that higher political uncertainty causes (a) a decrease in house price growth; (b) a decrease in the number of housing transactions; and (c) an increase in the number of building permits. These effects are stronger during election years when election outcomes present higher uncertainty. We further examined the impact of political uncertainty on mortgage markets and found that mortgage demand and supply decrease in election years.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"61 ","pages":"Article 101952"},"PeriodicalIF":2.4,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43271620","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Moving to the country: Understanding the effects of Covid-19 on property values and farmland development risk 迁移到农村:了解Covid-19对房地产价值和农田开发风险的影响
IF 2.4 3区 经济学
Journal of Housing Economics Pub Date : 2023-07-24 DOI: 10.1016/j.jhe.2023.101955
Kelsey K. Johnson , Lee Parton , Christoph Nolte , Matt Williamson , Theresa Nogeire-McRae , Jayash Paudel , Jodi Brandt
{"title":"Moving to the country: Understanding the effects of Covid-19 on property values and farmland development risk","authors":"Kelsey K. Johnson ,&nbsp;Lee Parton ,&nbsp;Christoph Nolte ,&nbsp;Matt Williamson ,&nbsp;Theresa Nogeire-McRae ,&nbsp;Jayash Paudel ,&nbsp;Jodi Brandt","doi":"10.1016/j.jhe.2023.101955","DOIUrl":"10.1016/j.jhe.2023.101955","url":null,"abstract":"<div><p>As human populations grow, one strategy for meeting housing demand is through the development of agricultural land and other open space, which can generate negative externalities. This may be addressed at local, state, or federal levels with land-use planning, including farmland preservation policies. Efficient land-use planning in the presence of competing land uses requires knowledge of development risk, housing preferences, and the full costs of farmland loss. We conduct a national scale hedonic analysis using the ZTRAX program U.S. housing transaction data to investigate how COVID-19 has affected property prices in suburban and rural areas with farmland at high risk of development, for the purpose of understanding the effects of COVID-19 driven shifts in housing location preferences. Our analysis demonstrates that the pandemic caused differential price impacts across the 33 states that we analyzed. Furthermore, our estimates suggest heterogeneous price effects driven by the characteristics of nearby urban areas, with prices appreciating faster on land at risk located near smaller urban areas than those near larger urban areas. Our analysis finds that the spatial pattern of development pressure on agricultural lands, as measured through transaction prices, changed in the aftermath of the COVID-19 pandemic.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"62 ","pages":"Article 101955"},"PeriodicalIF":2.4,"publicationDate":"2023-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47915162","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
The External Costs of Industrial Chemical Accidents: A Nationwide Property Value Study 工业化学事故的外部成本:一个全国性的财产价值研究
IF 2.4 3区 经济学
Journal of Housing Economics Pub Date : 2023-07-23 DOI: 10.1016/j.jhe.2023.101954
Dennis Guignet , Robin R. Jenkins , Christoph Nolte , James Belke
{"title":"The External Costs of Industrial Chemical Accidents: A Nationwide Property Value Study","authors":"Dennis Guignet ,&nbsp;Robin R. Jenkins ,&nbsp;Christoph Nolte ,&nbsp;James Belke","doi":"10.1016/j.jhe.2023.101954","DOIUrl":"10.1016/j.jhe.2023.101954","url":null,"abstract":"<div><p>Industrial chemical accidents involving fires, explosions, or toxic vapors impose external costs on nearby communities. We examine changes in residential property values using nationwide data on chemical facilities, accidents, and residential transactions within a spatial difference-in-differences framework. We find that accidents with direct offsite impacts lower home values within 5.75 km by 2-3%, an effect that remains for about 10 to 12 years, on average. We estimate an average loss of $5,350 per home, which translates to a $39.5 billion loss to communities around the 661 facilities where an offsite impact accident occurred. We assess the assumptions needed for a formal welfare interpretation and conclude that these results roughly approximate losses experienced by nearby residents.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"62 ","pages":"Article 101954"},"PeriodicalIF":2.4,"publicationDate":"2023-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44028668","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Flood insurance reforms, housing market dynamics, and adaptation to climate risks 洪水保险改革、住房市场动态和气候风险适应
IF 2.4 3区 经济学
Journal of Housing Economics Pub Date : 2023-06-15 DOI: 10.1016/j.jhe.2023.101953
Hannah Hennighausen , Yanjun Liao , Christoph Nolte , Adam Pollack
{"title":"Flood insurance reforms, housing market dynamics, and adaptation to climate risks","authors":"Hannah Hennighausen ,&nbsp;Yanjun Liao ,&nbsp;Christoph Nolte ,&nbsp;Adam Pollack","doi":"10.1016/j.jhe.2023.101953","DOIUrl":"10.1016/j.jhe.2023.101953","url":null,"abstract":"<div><p>This paper examines the impact of two nationwide reforms to the National Flood Insurance<span> Program on both flood insurance and property markets. The 2012 and 2014 reforms aimed to phase out subsidies on flood insurance premiums. Using a difference-in-differences framework comparing treated and similar but untreated properties, we find that the reforms led to a 14.3% relative increase in the price of flood insurance, an 8.2% decrease in insurance demand, a 4.2% decrease in property prices and a 2.3% decrease in property transaction volumes. As flood risk continues to accelerate across the United States, properly pricing insurance premiums can effectively discourage households from living in risky areas, but may involve potential trade-offs such as the unintended outcome of a large drop-off in insurance coverage.</span></p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"62 ","pages":"Article 101953"},"PeriodicalIF":2.4,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44764209","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Pay for elite private schools or pay for higher housing prices? Evidence from an exogenous policy shock 为精英私立学校买单还是为更高的房价买单？外生政策冲击的证据
IF 2.4 3区 经济学
Journal of Housing Economics Pub Date : 2023-06-01 DOI: 10.1016/j.jhe.2023.101934
Jing Chen , Rui Li
{"title":"Pay for elite private schools or pay for higher housing prices? Evidence from an exogenous policy shock","authors":"Jing Chen ,&nbsp;Rui Li","doi":"10.1016/j.jhe.2023.101934","DOIUrl":"10.1016/j.jhe.2023.101934","url":null,"abstract":"<div><p>This study provides the first direct empirical evidence on whether private school lottery enrollment program affects school district house prices and residential sorting behaviors. Although the new lottery enrollment policy for private schools in China aims to promote equal and affordable education, it also introduces uncertainty. We assessed the policy impact using the panel data of residential housing transactions from the largest real estate agent in Chengdu during 2018–2020 and controlling for grid-level demographic and economic variables from mobile Internet data. We found that the lottery-based private school enrollment uncertainty leads to a substantial rise in the value of the key and elite school district house (SDH) prices. The house price premiums of the key SDH and elite SDH increased by 2.8% and 7.8% in the post-policy period, respectively. We also observed a significant intensification of residential sorting behavior within the elite public school districts afterwards. These results suggest that parents pay higher house prices when access to quality private schools becomes uncertain.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"60 ","pages":"Article 101934"},"PeriodicalIF":2.4,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43049721","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Redevelopment values in multi-family properties: Evidence from en bloc sales in Singapore 多户住宅的重新开发价值：来自新加坡整体销售的证据
IF 2.4 3区 经济学
Journal of Housing Economics Pub Date : 2023-06-01 DOI: 10.1016/j.jhe.2023.101932
Liu Ee Chia , Tien Foo Sing
{"title":"Redevelopment values in multi-family properties: Evidence from en bloc sales in Singapore","authors":"Liu Ee Chia ,&nbsp;Tien Foo Sing","doi":"10.1016/j.jhe.2023.101932","DOIUrl":"https://doi.org/10.1016/j.jhe.2023.101932","url":null,"abstract":"<div><p>“Teardown” or redevelopment is an effective policy tool to increase supply elasticity in land-scarce cities. In Singapore, redevelopment of older multi-family properties requires the consent of majority owners to sell their units collectively in a process widely known as “<em>en bloc</em>” sales. Using the resale transaction data in Singapore from 1995 to 2018, we find that private multi-family properties with redevelopment potentials sell at significant premiums of at least 36.7% on average. The resale values of properties with redevelopment potentials increase by 5.5% to 8.3% after the consent of the majority owners to sell the redevelopment rights is obtained. The anticipative effects are observed in resale transactions as early as one year before the <em>en bloc</em> sale events. The price premiums increase from 8.4% to 13.64% when resale transactions occur in 7 to 12 months and within 6 months from the <em>en bloc</em> event. The results are robust and orthogonal to supply constraints in the markets.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"60 ","pages":"Article 101932"},"PeriodicalIF":2.4,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50191272","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Housing Affordability and School Quality in the United States 美国的住房负担能力和学校质量
IF 2.4 3区 经济学
Journal of Housing Economics Pub Date : 2023-06-01 DOI: 10.1016/j.jhe.2023.101933
Richard W. DiSalvo, Jia H. Yu
{"title":"Housing Affordability and School Quality in the United States","authors":"Richard W. DiSalvo,&nbsp;Jia H. Yu","doi":"10.1016/j.jhe.2023.101933","DOIUrl":"10.1016/j.jhe.2023.101933","url":null,"abstract":"<div><p>In discussions of the barriers faced by the poor to accessing high-quality K-12 education, housing costs figure prominently. A common view is that housing costs more when it provides access to higher quality schools. But is this view accurate? We investigate this question by relating housing affordability with two test-based measures of school quality, test score levels and rates of student learning. Our work contributes the first nationwide estimate of this relationship for rates of student learning, and to date the most comprehensive nationwide examination for test score levels. We find that there are relatively few affordable housing options near high test score levels schools, but for a substantial range this is driven by the phasing from renter into owner-occupied housing, and the associated rise in down payments. By contrast, the association of housing affordability with learning rates is much weaker. We examine heterogeneity in these relationships, and discuss policy implications.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"60 ","pages":"Article 101933"},"PeriodicalIF":2.4,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46077713","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信