Journal of Housing Economics最新文献_第9页

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

COVID-19’s Impacts on Housing Markets: Introduction 新冠肺炎对住房市场的影响：简介

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2023-03-01 DOI: 10.1016/j.jhe.2022.101911

Amy Ellen Schwartz , Susan Wachter

引用次数: 5

Demons of density do higher-density environments put people at greater risk of contagious disease? 高密度环境会增加人们患传染病的风险吗?

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2023-03-01 DOI: 10.1016/j.jhe.2022.101905

Ingrid Gould Ellen, Renata Howland, Sherry Glied

{"title":"Demons of density do higher-density environments put people at greater risk of contagious disease?","authors":"Ingrid Gould Ellen, Renata Howland, Sherry Glied","doi":"10.1016/j.jhe.2022.101905","DOIUrl":"10.1016/j.jhe.2022.101905","url":null,"abstract":"<div><p>We study the relationship between density and COVID during three distinct waves of the pandemic in New York City. Unlike prior work, our analysis uses individual Medicaid claims records, which include a rich array of demographic characteristics and pre-existing medical conditions and cover a near universe of low-income New Yorkers. In brief, our results suggest that living in higher density neighborhoods did not heighten the risk of COVID hospitalization. The size of a multifamily building made little difference either, and people living in public housing developments, which are typically highly dense environments, were <em>less</em> likely to be hospitalized for COVID. However, while neighborhood and building density do not seem to matter, we find significant, positive relationships between COVID hospitalization rates and household size. Specifically, we see that people living in large households or in neighborhoods with high levels of crowding were more likely to be hospitalized for COVID. In other words, our results suggest that crowded living quarters – which can occur at any level of population density – and not density itself, increase the risk of COVID hospitalization. We also see a strong correlation between being unstably housed or living in institutional settings and COVID hospitalizations.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"59 ","pages":"Article 101905"},"PeriodicalIF":2.4,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42770575","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: 7

Housing discrimination in the low-income context: Evidence from a correspondence experiment 低收入背景下的住房歧视:来自对应实验的证据

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2023-03-01 DOI: 10.1016/j.jhe.2022.101889

Eric W. Chan , Yulian Fan

引用次数: 1