The Impact of Distant Hurricane on Local Housing Markets

Author(s):  
Lu Fang ◽  
Lingxiao Li ◽  
Abdullah Yavas
Keyword(s):  
Societies ◽  
2018 ◽  
Vol 8 (4) ◽  
pp. 93 ◽  
Author(s):  
Ken Chilton ◽  
Robert Silverman ◽  
Rabia Chaudhrey ◽  
Chihaungji Wang

The U.S. Congress authorized the creation of real estate investment trusts (REITs) in 1960 so companies could develop publically traded real estate investment portfolios. REITs focus on commercial property, retail property, and rental property. During the last decade, REITs became more active in regional housing markets across the U.S. Single-family rental (SFR) REITs have grown tremendously, buying up residential properties across the country. In some regional housing markets, SFR REITs own noticeable shares of single-family homes. In those settings, SFR REITs take large numbers of housing units off of real estate markets where homeownership transactions occur and manage these properties as part of commercial rental inventories. This has resulted in a new category of multiple property owners, composed of institutional investors as opposed to individual investors, which further exacerbates property wealth concentration and polarization. This study examines the socio–spatial distribution of properties in SFR REIT portfolios to determine if SFR REIT properties tend to cluster in distinct areas. This study will focus on the regional housing market in Nashville, TN. Nashville has one of the most active SFR REIT sectors in the country. County tax assessor records were used to identify SFR REIT properties. These data were joined with U.S. Census data to create a profile of communities. The data were analyzed using SPSS statistical software and GIS software. Our analysis suggests that neighborhoods with clusters of SFR REITs fit the SFR REIT business model. Clusters occur in communities with newer homes, residents with higher levels of educational attainment, and middle to upper-middle incomes. The paper concludes with several recommendations for future research on SFR REITs.


2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sonia Ern Yi Lim ◽  
Frederic Bouchon

Purpose This concept paper aims to discuss the effects of network hospitality on women empowerment in the city of Kuala Lumpur. Design/methodology/approach This paper uses a qualitative approach to analyse women engaged in Airbnb activity as hosts or guests. Findings Findings show new types of entrepreneurs, hospitality services, and socio-cultural expectations under this change. Originality/value The recent growth of Network Hospitality platforms such as Airbnb around the world has generated multiple impacts on urban destinations worldwide. Network hospitality is transforming the way tourism is produced and consumed. Several studies have analysed the impact of network hospitality on destinations’ accommodation and housing markets, the gentrification effects and users’ experience. However, studies on the social impacts of Airbnb in developing economies remain scarce. Network hospitality is creating entrepreneurship and mobility opportunities for women. In the case of Malaysia, there is a noticeable empowerment trend of women through network hospitality.


2014 ◽  
Vol 7 (3) ◽  
pp. 292-306 ◽  
Author(s):  
Richard J. Dunning ◽  
Andrew Grayson

Purpose – The purpose of this paper is to renew a research agenda considering the impact that information providers’ processes are having on the housing market; in particular to develop a research agenda around the role of the Internet in shaping households’ perceptions of the spatial nature of housing markets. Design/methodology/approach – This paper reviews the existing literature. It uses preliminary extensive survey findings about the role of the Internet in housing search to hypothesise ways in which households may be affected by this transition. Findings – Not applicable – other than evidence for the growth in the importance of the Internet in shaping households’ housing search. Practical implications – First, the academy needs to readdress the theory surrounding information acquisition and use insights from economics, sociology and psychology to understand these processes. Second, local authorities and academics should analyse the impact of Internet use on housing market boundaries (and the profound subsequent impact on policy traction). Third, estate agents should reconsider the role of the Internet in shaping housing markets and provide a critical response to the large property search engines. Originality/value – This paper reviews the literature and explores the necessity of a renewed interest in research on the role of information sources in framing and constraining housing search behaviour.


10.1068/a4110 ◽  
2009 ◽  
Vol 41 (9) ◽  
pp. 2143-2161 ◽  
Author(s):  
Jean-Marie Halleux

The author supports the argument that a focus on the spatiality of economic mechanisms can be a valuable way to address the issue of interurban housing markets, a theme which has not yet been adequately addressed by academic research. Developments are based on a theoretical framework in which two factors are considered central to the structuring of markets: (i) the possibility of choice between substitutable supplies (spatially related to the territory prospected by the consumer), and (ii) the availability of information on the state of the market (spatially related to the use of local sales references when market participants prepare their negotiations). This theoretical framework is empirically applied to the case of building sites prepared for self-built housing, with a modelling methodology elaborated for Belgium. The modelling methodology, based on cross-sectional regressions, develops a spatial autoregressive specification and incorporates a multiscale comparison. By highlighting the importance of information availability and demand substitutability, this exercise confirms that a focus on interurban market spatiality can be helpful to housing researchers. In fact, the results suggest that such a focus is particularly appropriate to the analysis of the impact of planning regulations on market outcomes.


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