The Modern Economics Of Housing

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The Modern Economics of Housing

Randall Pozdena
The Modern Economics of Housing Book PDF

Author : Randall Pozdena
Publisher : Bloomsbury Publishing USA
Page : 230 pages
File Size : 41,7 Mb
Release : 1988-06-03
Category : Business & Economics
ISBN : 9780313389016

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The Modern Economics of Housing by Randall Pozdena Pdf

This practical handbook aims to show planners and managers throughout the financial services industry how to compete successfully by improving the quality, selection, and delivery of services. It presents step-by-step methods for designing and implementing financial service packages that will satisfy customers' needs. It offers practical advice on how to determine customers' wants and how to translate these into an individualized package tailored to their particular needs Business Information Alert In recent years, the U.S. housing market has been characterized by rapid changes in housing prices, quality, and availability. This handbook is a highly readable examination of the various theories that have been advanced to explain the economic behavior of today's housing market. Emphasis is put on developing an understanding of the sophisticated economics underlying the market, thus enabling the reader to carry this knowledge over into a rapidly changing marketplace. The book begins with a brief look at the historical development of U.S. housing markets and government intervention in these markets. The study goes on to develop a conceptual framework that can be used to evaluate the effects of the economic environment and government policy on the housing market. Throughout the book, real-world data is employed to verify and illustrate the major points of the presentation.

Rethinking the Economics of Land and Housing

Josh Ryan-Collins,Toby Lloyd,Laurie Macfarlane
Rethinking the Economics of Land and Housing Book PDF

Author : Josh Ryan-Collins,Toby Lloyd,Laurie Macfarlane
Publisher : Bloomsbury Publishing
Page : 282 pages
File Size : 43,6 Mb
Release : 2017-02-28
Category : Business & Economics
ISBN : 9781786991201

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Rethinking the Economics of Land and Housing by Josh Ryan-Collins,Toby Lloyd,Laurie Macfarlane Pdf

Why are house prices in many advanced economies rising faster than incomes? Why isn't land and location taught or seen as important in modern economics? What is the relationship between the financial system and land? In this accessible but provocative guide to the economics of land and housing, the authors reveal how many of the key challenges facing modern economies - including housing crises, financial instability and growing inequalities - are intimately tied to the land economy. Looking at the ways in which discussions of land have been routinely excluded from both housing policy and economic theory, the authors show that in order to tackle these increasingly pressing issues a major rethink by both politicians and economists is required.

Housing Economics

Geoffrey Meen,Kenneth Gibb,Chris Leishman,Christian Nygaard
Housing Economics Book PDF

Author : Geoffrey Meen,Kenneth Gibb,Chris Leishman,Christian Nygaard
Publisher : Springer
Page : 313 pages
File Size : 49,6 Mb
Release : 2016-04-29
Category : Business & Economics
ISBN : 9781137472717

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Housing Economics by Geoffrey Meen,Kenneth Gibb,Chris Leishman,Christian Nygaard Pdf

The world has still to emerge fully from the housing-triggered Global Financial Crisis, but housing crises are not new. The history of housing shows long-run social progress, littered with major disasters; nevertheless the progress is often forgotten, whilst the difficulties hit the headlines. Housing Economics provides a long-term economic perspective on macro and urban housing issues, from the Victorian era onwards. A historical perspective sheds light on modern problems and the constraints on what can be achieved; it concentrates on the key policy issues of housing supply, affordability, tenure, the distribution of migrant communities, mortgage markets and household mobility. Local case studies are interwoven with city-wide aggregate analysis. Three sets of issues are addressed: the underlying reasons for the initial establishment of residential neighbourhoods, the processes that generate growth, decline and patterns of integration/segregation, and the impact of historical development on current problems and the implications for policy.

The Financialization of Housing

Manuel B. Aalbers
The Financialization of Housing Book PDF

Author : Manuel B. Aalbers
Publisher : Routledge
Page : 184 pages
File Size : 53,7 Mb
Release : 2016-05-05
Category : Business & Economics
ISBN : 9781317361787

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The Financialization of Housing by Manuel B. Aalbers Pdf

Due to the financialization of housing in today’s market, housing risks are increasingly becoming financial risks. Financialization refers to the increasing dominance of financial actors, markets, practices, measurements and narratives. It also refers to the resulting structural transformation of economies, firms, states and households. This book asserts the centrality of housing to the contemporary capitalist political economy and places housing at the centre of the financialization debate. A global wall of money is looking for High-Quality Collateral (HQC) investments, and housing is one of the few asset classes considered HQC. This explains why housing is increasingly becoming financialized, but it does not explain its timing, politics and geography. Presenting a diverse range of case studies from the US, the UK, the Netherlands, Germany, Italy and Spain, the chapters in this book include coverage of the role of the state as the driver of financialization processes, and the part played by local and national histories and institutions. This cutting edge volume will pave the way for future research in the area. Where housing used to be something "local" or "national", the two-way coupling of housing to finance has been one crucial element in the recent crisis. It is time to reconsider the financialization of both homeownership and social housing. This book will be of interest to those who study international economics, economic geography and financialization.

Housing Partnerships

Andrew Caplin,Sewin Chan,Charles Freeman,Joseph Tracy
Housing Partnerships Book PDF

Author : Andrew Caplin,Sewin Chan,Charles Freeman,Joseph Tracy
Publisher : MIT Press
Page : 281 pages
File Size : 44,5 Mb
Release : 1997-06-13
Category : Business & Economics
ISBN : 9780262527262

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Housing Partnerships by Andrew Caplin,Sewin Chan,Charles Freeman,Joseph Tracy Pdf

Although the United States has developed highly sophisticated markets for funding corporate investment projects, markets for financing home ownership are comparatively rudimentary. When a corporation wishes to fund a project, it can choose any mix of debt and equity financing. In contrast, to buy a home, a household must take on debt in the form of a mortgage. The authors of this book propose the development of new markets, called Partnership Markets, that would allow households to use equity finance to buy their homes. With these new markets, a household would be able to finance housing not only with a mortgage, but also with an institutional investor who would provide part of the equity capital for the house in exchange for a share of the ultimate selling price. The new markets would offer many benefits to both homeowners and the broader financial community. In the current market, many Americans are forced to rent housing because they cannot afford to buy. Those who do buy are burdened with high debt payments. They also have the vast majority of their wealth tied up in their home and are exposed to the high risk levels of such an undiversified portfolio. With Partnership Markets, households would be able to buy homes with much smaller mortgages, thereby greatly reducing their expenses. They would also be able to diversify their assets and create less risky portfolios. For the broader financial community, Partnership Markets would provide an opportunity to diversify into the residential real estate market. To give the reader a rounded view of their proposal, the authors explain the economic theory of the housing market and the housing finance market, as well as key aspects of the institutional structure and performance records of the current market. They discuss the wider ramifications of their proposal, including changes in the form and structure of the secondary market, the government's role in the housing market, the composition of assets held by institutions, and the general level of risk for individuals.

The Blackwell Companion to the Economics of Housing

Susan J. Smith,Beverley A. Searle
The Blackwell Companion to the Economics of Housing Book PDF

Author : Susan J. Smith,Beverley A. Searle
Publisher : John Wiley & Sons
Page : 648 pages
File Size : 44,8 Mb
Release : 2010-01-22
Category : Business & Economics
ISBN : 1444317989

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The Blackwell Companion to the Economics of Housing by Susan J. Smith,Beverley A. Searle Pdf

The Blackwell Companion to the Economics of Housing willhelp students and professionals alike to explore key elements ofthe housing economy: home prices, housing wealth, mortgage debt,and financial risk. Features 24 original essays, including an editorialintroduction and three section overviews Includes 39 world-class authors from a mix of educational andfinancial organizations in the UK, Europe, Australia, and NorthAmerica Broadly-based, scholarly, and accessible, serving students andprofessionals who wish to understand how today’s housingeconomy works Profiles the role and relevance of housing wealth; themismanagement of mortgage debt; and the pitfalls and potential ofhedging housing risk Key topics include: the housing price bubble and crash; thesubprime mortgage crisis in the US and its aftermath; the linksbetween housing wealth, the macroeconomy, and the welfare ofhome-occupiers; the mitigation of credit and housing investmentrisks Specific case studies help to illustrate concepts, along withnew data sets and analyses to illustrate empirical points

Economic Theory and the Cities

J. Vernon Henderson
Economic Theory and the Cities Book PDF

Author : J. Vernon Henderson
Publisher : Academic Press
Page : 289 pages
File Size : 51,7 Mb
Release : 2014-06-28
Category : Business & Economics
ISBN : 9781483294889

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Economic Theory and the Cities by J. Vernon Henderson Pdf

The Second Edition of Economic Theory and the Cities has been revised and expanded with both the graduate student and the practicing professional in mind. Providing a state-of-the-art synthesis of important theoretical topics in urban economics, the volume emphasizes the fundamental links between urban economics and new developments in mainstream economic theory. From the Preface: In this book I present what I believe to be the most important theoretical topics in urban economics. Since urban economics is a rather diffuse field, any presentation is necessarily selective, reflecting personal tastes and opinions. Given that, I note on what basis I chose the material that is presented and developed.First, the basic spatial model of a monocentric city is presented, since it lays the foundation for thinking about many of the topics in urban economics. The consideration of space and spatial proximity is one central feature of urban economics that distinguishes it from other branches of economics. The positive and negative externalities generated by activities locating in close spatial proximity are central to analysis of urban phenomena. However, in writing this book I have tried to maintain strong links between urban economics and recent developments in mainstream economic theory. This is reflected in the chapters that follow, which present models of aspects of the most important topics in urban economics--externalities, housing, transportation, local public finance, suburbanization, and community development. In these chapters, concepts from developments in economics over the last decade or so are woven into the traditional approaches to modeling these topics. Examples are the role of contracts in housing markets and community development; portfolio analysis in analyzing housing tenure choice and investment decisions; the time-inconsistency problem in formulating long-term economic relationships between communities, developers, and local governments; search in housing markets; and dynamic analysis in housing markets and traffic scheduling. The book ends with chapters on general equilibrium models of systems of cities, demonstrating how individual cities fit into an economy and interact with each other. This book is written both as a reference book for people in the profession and for use as a graduate text. In this edition, a strong effort has been made to present the material at a level and in a style suitable for graduate students. The edition has greatly expanded the sections on housing and local public finance so these sections could be studied profitably by a broad range of graduate students. Recommended prerequisites are an undergraduate urban economics course and a year of graduate-level microeconomic theory. It is possible that the book can be used in very advanced undergraduate courses if the students are well versed in microeconomics and are quantitatively oriented. Focus on the basic spatial model of the monocentric city Expanded sections on housing and local public finance Discussion of the critical role of spatial proximity of different economic activities, such as housing, transportation, and community development

Challenges of the Housing Economy

Colin Jones,Michael White,Neil Dunse
Challenges of the Housing Economy Book PDF

Author : Colin Jones,Michael White,Neil Dunse
Publisher : John Wiley & Sons
Page : 337 pages
File Size : 52,6 Mb
Release : 2012-03-05
Category : Law
ISBN : 9781118280836

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Challenges of the Housing Economy by Colin Jones,Michael White,Neil Dunse Pdf

This timely book addresses key challenges faced by policy makers and the house-building industry in a post-credit crunch world. It examines the implications for households, the housing market, the economy, as well as for government's policy choices. Challenges of the Housing Economy: an international perspective brings together experts from around the world to examine recent housing market trends. The contributions reveal common long-term trends in housing markets worldwide. Despite differences in supply conditions and the role of planning, there is a trend toward rising house prices that has created significant barriers to home ownership for young households while increasing the wealth of older generations. The financial crisis had a differential impact on housing markets but in many countries where mortgage finance became severely constrained, house prices fell and there was a dramatic fall in housing construction. The falls in house prices in these countries have ostensibly improved affordability but the housing markets have been dominated by the lowering of loan to values applicable to new mortgages which has further raised the hurdles to potential first-time purchasers. At the same time as young households are increasingly rationed out of owner-occupation, public sector expenditure cut-backs in many countries result in limited new social housing. Instead, value for money imperatives will mean new funding models for affordable housing that require greater use of public-private partnerships. The private rented sector could potentially meet the demand for the new generation of long-term renters. However, there are doubts - in the UK at least - that this sector will be able to expand significantly or provide an appropriate type and standard of housing. This is an essential advanced text for students and researchers of land economy and land management; property and real estate; housing policy; and urban studies.

Rethinking Housing Bubbles

Steven D. Gjerstad,Vernon L. Smith
Rethinking Housing Bubbles Book PDF

Author : Steven D. Gjerstad,Vernon L. Smith
Publisher : Cambridge University Press
Page : 309 pages
File Size : 54,9 Mb
Release : 2014-05-12
Category : Business & Economics
ISBN : 9780521198097

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Rethinking Housing Bubbles by Steven D. Gjerstad,Vernon L. Smith Pdf

Steven D. Gjerstad and Nobel Laureate Vernon L. Smith demonstrate the critical role that household and bank balance sheets play in economic cycles.

The Economics of Property and Planning

Graham Squires
The Economics of Property and Planning Book PDF

Author : Graham Squires
Publisher : Routledge
Page : 220 pages
File Size : 52,5 Mb
Release : 2021-11-29
Category : Business & Economics
ISBN : 9781000481600

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The Economics of Property and Planning by Graham Squires Pdf

This book introduces the interlocking disciplines of property and planning to economic theory and practice. Unlike any other available textbook, The Economics of Property and Planning skilfully introduces the reader to the interplay between property and planning using an economic lens. As resources become scarce, there is a growing need for students to understand the principles of economics in property and planning, especially given the rapid social, environmental, technological, and political changes that are shaping places. The book begins with an outline of key economists and economic problems, then resources and scarcity, before examining macro- and microeconomic factors at play in property and planning. Furthermore, this book covers a variety of topics, including spatial and locational modelling, fiscal approaches to redistribution, regeneration and renewal, and transport and infrastructure financing. There is also a particular focus on contemporary issues such as climate change, environmental limits to economic growth, sustainability and resilience, and affordable housing. This book also introduces practical evaluation tools and appraisal, plus a look at property and planning with respect to macroeconomic objectives, policy, and new directions. With property and planning essential factors in economic thinking and doing, this book provides insight into what future places will look like in real terms and how they will be shaped by policy. Targeted disciplines for this book include Economics, Planning, Property, Construction, Geography, Environmental Management, Sustainability, Housing, Built Environment, Land Economy, Urban Studies, Regional Studies, and Public Policy.

The New Urban Economics

H.W. Richardson
The New Urban Economics Book PDF

Author : H.W. Richardson
Publisher : Routledge
Page : 236 pages
File Size : 45,6 Mb
Release : 2013-04-15
Category : Architecture
ISBN : 9781135683115

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The New Urban Economics by H.W. Richardson Pdf

This book was first published in 1977. Urban economics is a relatively young field of economics; hardly existing except perhaps in real estate and land economics curricula-before the 1960s. Within the last few years, especially after 1 971, there has been a growth of interest in urban economic theory, strong enough even to attract the attention of general economic theorists. These new theoretical writings have been named the 'New Urban Economics'-NUE for short. The aim of this monograph is to survey and assess NUE, to evaluate its contribution to urban economics, to offer a few extensions and to say something about the future direction of the subfield.

A New Model for Housing Finance

Murtaza Baxamusa
A New Model for Housing Finance Book PDF

Author : Murtaza Baxamusa
Publisher : Routledge
Page : 123 pages
File Size : 42,9 Mb
Release : 2020-05-21
Category : Architecture
ISBN : 9781000096590

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A New Model for Housing Finance by Murtaza Baxamusa Pdf

A New Model for Housing Finance presents a thought-provoking solution to the housing crisis that follows the division of public and private money on housing costs and benefits. It brings a practical perspective on why housing is unaffordable, and what can be done about it using public and private capital. This book re-examines the foundation of housing finance in the United States with the aim to shift the paradigm from the public and private sectors working in silos, to working together. Through brief yet rigorous chapters, the book assesses the policy failures of both public and private sectors by drawing attention to the continuing human impacts of this man-made crisis, finally calling for a new model of financing housing through public–private partnerships. The limited impact and false hope of planning interventions, as well as the widespread economic impacts of the global pandemic of 2020, demonstrate the urgent need for change in our approach to housing policy, and this book lays out a path forward. It will be of interest to anyone working in or studying housing, social justice, urban planning, urban studies, and public policy.

Fixing the Housing Market

Franklin Allen,James R. Barth,Glenn Yago
Fixing the Housing Market Book PDF

Author : Franklin Allen,James R. Barth,Glenn Yago
Publisher : Prentice Hall
Page : 0 pages
File Size : 43,7 Mb
Release : 2012
Category : Global Financial Crisis, 2008-2009
ISBN : 0133925390

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Fixing the Housing Market by Franklin Allen,James R. Barth,Glenn Yago Pdf

Explains the financial history leading to the mortgage meltdown and assesses today's housing finance systems in the United States and abroad.

Routledge Handbook of Modern Economic History

Robert Whaples,Randall E. Parker
Routledge Handbook of Modern Economic History Book PDF

Author : Robert Whaples,Randall E. Parker
Publisher : Routledge
Page : 365 pages
File Size : 46,9 Mb
Release : 2013
Category : Business & Economics
ISBN : 9780415677042

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Routledge Handbook of Modern Economic History by Robert Whaples,Randall E. Parker Pdf

The aim of The Handbook of Modern Economic History will be to introduce readers to the key approaches and findings of economic historians who study the modern world. Modern economic history blends two approaches ' Cliometrics (which focuses on measuring economic variables and explicitly testing theories about the historical performance and development of the economy, as exemplified by the approach of Robert Fogel) and the New Institutional Economics (which focuses on how social, cultural, legal and organizational norms and rules shape ...

The Global Financial Crisis and Housing

Susan Wachter,Man Cho,Moo Joong Tcha
The Global Financial Crisis and Housing Book PDF

Author : Susan Wachter,Man Cho,Moo Joong Tcha
Publisher : Edward Elgar Publishing
Page : 364 pages
File Size : 51,6 Mb
Release : 2014-02-28
Category : Business & Economics
ISBN : 9781783472888

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The Global Financial Crisis and Housing by Susan Wachter,Man Cho,Moo Joong Tcha Pdf

This innovative book analyses the role played by real estate markets in global financial stability and examines the fragile link between the two. Through what transmission channels do housing market cycles influence broader economic systems? How