Journal of Housing Economics最新文献_第6页

The sharing economy and housing markets in selected European cities 欧洲部分城市的共享经济和住房市场

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2023-06-01 DOI: 10.1016/j.jhe.2023.101914

Philipp Reichle , Jarko Fidrmuc , Fabian Reck

引用次数: 2

Intercity impacts of work-from-home with both remote and non-remote workers 远程和非远程工作者在家工作对城际的影响

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2023-03-01 DOI: 10.1016/j.jhe.2022.101910

Jan K. Brueckner , S. Sayantani

引用次数: 0

Landlords’ rental businesses before and after the COVID-19 pandemic: Evidence from a National Cross-Site Survey 新冠肺炎大流行前后房东的租赁业务：来自全国跨站点调查的证据

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2023-03-01 DOI: 10.1016/j.jhe.2022.101904

Elijah A. de la Campa , Vincent J. Reina

{"title":"Landlords’ rental businesses before and after the COVID-19 pandemic: Evidence from a National Cross-Site Survey","authors":"Elijah A. de la Campa , Vincent J. Reina","doi":"10.1016/j.jhe.2022.101904","DOIUrl":"10.1016/j.jhe.2022.101904","url":null,"abstract":"<div><p>This paper uses a survey of over 2500 rental property owners in ten cities across the United States to determine the impact of the COVID-19 pandemic on landlords’ rent collection and business behavior. Our findings show that yearly rent collection was down significantly in 2020 relative to 2019—both within and across rental markets—and that an increasing number of owners have a large share of their portfolio behind on rent. Small owners and owners of color faced the highest exposure to deep tenant arrears in 2020, challenges they were also more likely to face prior to pandemic. Our findings show that owner business practices changed dramatically in 2020, with a higher share of landlords granting tenants rent extensions or forgiving back rent during the pandemic relative to prior. However, many owners also disinvested in their rental properties through deferred maintenance, missed mortgage payments, and property sale listings. Landlords of color pursued disinvestment strategies during the pandemic at an elevated rate compared to white landlords. Owners of properties in neighborhoods with more non-white residents were both more likely to experience decreased rent collection and more likely to pursue evictions and rental late fees holding constant rental payment rates, implying the pandemic has disproportionately affected renters in communities of color. Overall, our findings highlight the strain the pandemic has placed on the housing stock, which has implications for the long-term viability and affordability of many of these units. More concerningly, our results show that households of color—which have been disproportionately affected by the pandemic in other domains—were more likely to face punitive measures from landlords in both 2019 and 2020, suggesting the pandemic has exacerbated existing racial inequality in housing markets.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"59 ","pages":"Article 101904"},"PeriodicalIF":2.4,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9749398/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"10780289","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Web-scraping housing prices in real-time: The Covid-19 crisis in the UK 网络实时监测房价：英国新冠肺炎危机

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2023-03-01 DOI: 10.1016/j.jhe.2022.101906

Jean-Charles Bricongne , Baptiste Meunier , Sylvain Pouget

引用次数: 0

The geography of US homeownership tax expenditures 美国住房税收支出的地理分布

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2023-03-01 DOI: 10.1016/j.jhe.2022.101888

Casey J. Dawkins

{"title":"The geography of US homeownership tax expenditures","authors":"Casey J. Dawkins","doi":"10.1016/j.jhe.2022.101888","DOIUrl":"10.1016/j.jhe.2022.101888","url":null,"abstract":"<div><p>US homeowners receive income tax deductions for mortgage interest payments and state and local property taxes, pay no income tax on their home's imputed rental income, and may exclude most of the capital gains earned from a home sale. This paper characterizes the geographic distribution of the tax expenditures from these tax preferences using a new method that exploits household-level microdata from the 2019 Census Public Use Microdata Sample to simulate homeownership tax expenditures at the Public Use Microdata Area level. I estimate that in the 2018 tax year, $226.05 billion in taxable revenue was lost to the mortgage interest deduction ($28.20 billion), the property tax deduction ($9.51 billion), the exclusion of net imputed rental income ($134.82 billion), and the partial exclusion of housing-related capital gains ($53.52 billion). Large metropolitan areas and neighborhoods with high housing prices receive subsidies in excess of the cost of funding homeowner tax preferences, while the burden of homeowner tax preferences falls heavily on rural areas. If federal income tax law reverted to what existed just prior to the 2017 Tax Cuts and Jobs Act, these geographic disparities would be exacerbated.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"59 ","pages":"Article 101888"},"PeriodicalIF":2.4,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46450844","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

Stuck at home: Housing demand during the COVID-19 pandemic 困在家里：新冠肺炎大流行期间的住房需求

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2023-03-01 DOI: 10.1016/j.jhe.2022.101908

William Gamber , James Graham , Anirudh Yadav

{"title":"Stuck at home: Housing demand during the COVID-19 pandemic","authors":"William Gamber , James Graham , Anirudh Yadav","doi":"10.1016/j.jhe.2022.101908","DOIUrl":"10.1016/j.jhe.2022.101908","url":null,"abstract":"<div><p>The COVID-19 pandemic induced an increase in both the amount of time that households spend at home and the share of expenditures allocated to at-home consumption. These changes coincided with a period of rapidly rising house prices. We interpret these facts as the result of stay-at-home shocks that increase demand for goods consumed at home as well as the homes that those goods are consumed in. We first test the hypothesis empirically using US cross-county panel data and instrumental variables regressions. We find that counties where households spent more time at home experienced faster increases in house prices. We then study various pandemic shocks using a heterogeneous agent model with general equilibrium in housing markets. Stay-at-home shocks explain around half of the increase in model house prices in 2020. Lower mortgage rates explain around one third of the price rise, while unemployment shocks and fiscal stimulus have relatively small effects on house prices. We find that young households and first-time home buyers account for much of the increase in housing demand during the pandemic, but they are largely crowded out of the housing market by the equilibrium rise in house prices.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"59 ","pages":"Article 101908"},"PeriodicalIF":2.4,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9791792/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"10821908","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 15

Single borrowers versus coborrowers in the pandemic: Mortgage forbearance take-up and performance 疫情中的单一借款人与共同借款人：抵押贷款延期接受率和表现

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2023-03-01 DOI: 10.1016/j.jhe.2022.101909

Laurie Goodman , Jun Zhu

引用次数: 0

Behavioral changes in the housing market before and after the Covid-19 lockdown 新冠肺炎封锁前后房地产市场的行为变化

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2023-03-01 DOI: 10.1016/j.jhe.2022.101907

André Kallåk Anundsen , Bjørnar Karlsen Kivedal , Erling Røed Larsen , Leif Anders Thorsrud

引用次数: 4

Aggregate-level inferences from individual-level data: The case of permanent supportive housing and housing first 从个体水平数据推断的综合水平：以永久性保障性住房和住房优先为例

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2023-03-01 DOI: 10.1016/j.jhe.2022.101913

Brendan O'Flaherty

引用次数: 0

How ‘bad’ is renter protection for institutional investment in multifamily housing? 对多户住宅机构投资的租房者保护有多“糟糕”？

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2023-03-01 DOI: 10.1016/j.jhe.2022.101912

Meagan McCollum , Stanimira Milcheva

{"title":"How ‘bad’ is renter protection for institutional investment in multifamily housing?","authors":"Meagan McCollum , Stanimira Milcheva","doi":"10.1016/j.jhe.2022.101912","DOIUrl":"https://doi.org/10.1016/j.jhe.2022.101912","url":null,"abstract":"<div><p>We assess the role of state-level renter protection regulations on the pricing, performance and risk of multifamily housing. We construct a renter protection score (RPS) to measure the extent of renter protection in each state. Using a proprietary property-level dataset from loans backed by commercial mortgage backed securities (CMBS) and census tract socioeconomic variables, we study the role of RPS on initial capitalization (cap) rates, annual net operating income (NOI) and annual loan delinquency rates of multifamily housing. We find that, contrary to conventional wisdom that renter protection is ‘bad’ for investors, multifamily housing in high RPS states is associated higher annual NOI and NOI growth and lower delinquency rates. We also show that better tenant protection is associated with lower initial cap rates. The results point to investors perceiving properties in more regulated states as lower risk due to reduced income volatility. For institutional investors, higher levels of renter protection are, therefore, not ‘bad’ but are instead associated with lower cash flow volatility and better income growth prospects.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"59 ","pages":"Article 101912"},"PeriodicalIF":2.4,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50171915","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