The impact of COVID-19 on home value in major Texas cities

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mira R. Bhat ◽  
Junfeng Jiao ◽  
Amin Azimian
Keyword(s):  
Housing Market ◽  
Mixed Model ◽  
Negative Relationship ◽  
Housing Price ◽  
Single Family ◽  
Related Factors ◽  
Content Type ◽  
Home Value ◽  
Business Cycle Index ◽  
The Impact

Purpose This study aims to analyze the impact of COVID-19 on housing price within four major metropolitan areas in Texas: Austin, Dallas, Houston and San Antonio. The analysis intends to understand economic and mobility drivers behind the housing market under the inclusion of fixed and random effects. Design/methodology/approach This study used a linear mixed effects model to assess the socioeconomic and housing and transport-related factors contributing to median home prices in four major cities in Texas and to capture unobserved factors operating at spatial and temporal level during the COVID-19 pandemic. Findings The regression results indicated that an increase in new COVID-19 cases resulted in an increase in housing price. Additionally, housing price had a significant and negative relationship with the following variables: business cycle index, mortgage rate, percent of single-family homes, population density and foot traffic. Interestingly, unemployment claims did not have a significant impact on housing price, contrary to previous COVID-19 housing market related literature. Originality/value Previous literature analyzed the housing market within the first phase of COVID-19, whereas this study analyzed the effects of the COVID-19 throughout the entirety of 2020. The mixed model includes spatial and temporal analyses as well as provides insight into how quantitative-based mobility behavior impacted housing price, rather than relying on qualitative indicators such as shutdown order implementation.

Rail station access and housing market resilience: Case studies of Atlanta, Baltimore and Portland

Urban Studies ◽  
2018 ◽  
Vol 55 (16) ◽  
pp. 3615-3630 ◽  
Author(s):  
Timothy F Welch ◽  
Steven R Gehrke ◽  
Steven Farber
Keyword(s):  
Housing Market ◽  
Critical Role ◽  
Housing Price ◽  
Single Family ◽  
Market Values ◽  
Urban Amenities ◽  
Resilience Index ◽  
Negative Impacts ◽  
The Impact ◽  
Rail Station

The recent United States housing market crisis resulted in a significant decline in housing market values. Yet, the extent to which urban amenities such as rail stations moderated the market impacts has not been entirely recognised. This study undertakes a repeat sales analysis to understand the impact of station proximity on housing values before, during and after the market crisis. Specifically, a housing price resilience index assesses market changes from 2002 to 2013 for single-family and multifamily homes within a quarter of a mile, half a mile, one mile and greater distances from the nearest rail station. The analysis is replicated in three cities: Atlanta, Georgia; Baltimore, Maryland; and Portland, Oregon. Although the recession had significant negative impacts on properties in each city, our study finds that access played a critical role in helping transit-orientated submarkets retain their value throughout the recession and recover value at a faster rate than homes without convenient fixed transit access.

scholarly journals Price Determinants and GIS Analysis of the Housing Market in Vietnam: The Cases of Ho Chi Minh City and Hanoi

2018 ◽  
Vol 10 (12) ◽  
pp. 4720
Author(s):  
You Chung ◽  
Ducksu Seo ◽  
Jaehwan Kim
Keyword(s):  
Housing Market ◽  
Central Government ◽  
Housing Price ◽  
Real Estate Market ◽  
Hedonic Model ◽  
Ho Chi Minh City ◽  
Infrastructure Development ◽  
Related Factors ◽  
Price Determinants ◽  
The Impact

Since the introduction of the Doi Moi economic reform in 1986, the real estate market in Vietnam has witnessed a sharp increase in foreign investment inflows and a remarkable growth in the housing market, particularly for high-rise apartments in large cities. This study investigates the determinants of apartment prices in Ho Chi Minh City (HCMC) and Hanoi, the two most representative cities in Vietnam. The spatial distribution of apartments and their price determinants were addressed by the spatial analysis of Geographic Information System (GIS) and the hedonic model. The price determinants of both cities were closely associated with downtown-related factors; moreover, the externalities of urbanization affected each city. While HCMC was more related to the locational attributes of urban amenities and community density as well as programs because of unmanaged urbanization, Hanoi was more related to housing attributes, since the majority of apartment projects were developed under urban infrastructure development supported by the central government. Apartment cluster maps of each city clearly show the contrast of housing distribution. Our findings clarify the impact of government policies on housing price determinants and can be a reference for private- and public-sector stakeholders seeking to undertake economically and socially sustainable housing development projects in Vietnam.

scholarly journals Las Cruces housing price fluctuations

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Steven L. Fullerton ◽  
James H. Holcomb ◽  
Thomas M. Fullerton Jr
Keyword(s):  
Theoretical Model ◽  
Housing Market ◽  
Supply And Demand ◽  
Housing Prices ◽  
Housing Price ◽  
Medium Size ◽  
Single Family ◽  
Content Type ◽  
Price Fluctuations ◽  
National Housing

Purpose This paper aims to analyze the median price for existing single-family housing units in Las Cruces, New Mexico. The proposed theoretical model accounts for the interplay between supply and demand sides of a metropolitan housing market. Design/methodology/approach This study analyzes the median price for existing single-family housing units in Las Cruces, New Mexico. The proposed theoretical model accounts for the interplay between supply and demand sides of a metropolitan housing market. Explanatory variables used in the analysis are real per capita income, the housing stock, real mortgage rates, real apartment rents and the median real price of single-family units in the USA. Annual frequency data are collected for a 1971–2017 sample period. Parameter estimation is completed using two-stage generalized least squares. Empirical results confirm several, but not all, of the hypotheses associated with the underlying analytical model. In particular, Las Cruces housing prices are found to be reliably correlated with local income and national housing prices. Findings Empirical results confirm several of the hypotheses associated with the underlying analytical model. In particular, Las Cruces housing prices are found to be reliably correlated with local income and national housing prices. Research limitations/implications Results obtained support only a subset of the hypothetical relationships associated with the theoretical model. Additional testing for other small and/or medium sized is required to clarify whether these outcomes are unique to Las Cruces. Practical implications Local income fluctuations and national housing price fluctuations appear to be reliably related to housing price fluctuations for this metropolitan economy. Originality/value Comparatively little housing market research has been conducted for small and medium size urban economies. There is no guarantee that results obtained for large metropolitan housing markets are representative of smaller regional housing markets. The model developed has fairly moderate data requirements and may be applicable to other small and medium size economies such as Las Cruces.

The influence of privately initiated rezoning on housing prices

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jeffrey G. Robert ◽  
Velma Zahirovic-Herbert
Keyword(s):  
Housing Prices ◽  
Housing Price ◽  
Quantitative Information ◽  
Single Family ◽  
Residential Housing ◽  
Content Type ◽  
Price Effects ◽  
Family Housing ◽  
Residential Use ◽  
The Impact

Purpose The purpose of this paper is to evaluate the parcel-level impacts of the zoning change. Design/methodology/approach Using hedonic regression and propensity score matching econometric techniques, this paper analyses single-family housing prices within Fulton County Georgia. This paper combines data on the parcel-level zoning changes with nearby housing sales transactions to study the potential externality effects because of rezoning induced by private parties. Findings The paper finds evidence of heterogeneous rezoning effects, depending upon the type of rezoning conducted. At a distance within 0.75 miles, housing prices appreciate by 8.31% when nearby privately initiated rezoning maintains the residential character of a neighbourhood. However, housing prices decline by 21.26% when residential housing zones are converted to non-residential housing zones. The negative influences of rezoning residential use to non-residential uses decline as distance increases. Originality/value The analysis provides quantitative information on the impact of rezoning on residential property prices. Planning officials and developers can use these results to assuage homeowner fears of potential negative housing price effects associated with rezoning.

Do hurricanes matter?

2017 ◽  
Vol 10 (3) ◽  
pp. 352-370 ◽  
Author(s):  
Jesse Saginor ◽  
Yue Ge
Keyword(s):  
Housing Market ◽  
Practical Implication ◽  
Extended Period ◽  
Real Estate Market ◽  
Hedonic Price ◽  
Single Family ◽  
Housing Values ◽  
Content Type ◽  
Home Sales ◽  
The Impact

Purpose The purpose of this research is to analyze a county’s housing market over 23 years to determine what impact, if any, multiple hurricanes have had on the residential real estate market. Design/methodology/approach This research uses a hedonic price model to determine the impacts that multiple hurricanes had on housing values. Findings There was a significant and negative countywide impact on housing sales values in the 1996, which can directly be attributed to three hurricanes impacting Brunswick County. Economic factors, rather than hurricanes and related storms, are more likely to impact sales values in all other years. Research limitations/implications This research is limited only to single-family home sales in Brunswick County, North Carolina, from 1984 to 2007. The model does not include multi-family residential uses. Practical implications Unlike many other areas that have been studied regarding natural disasters, Brunswick County has been hit multiple times by hurricanes and related storms, providing some insight into the long-term implications of the impact of storms on housing values over an extended period of time. The practical implication is that despite the likelihood of hurricanes and proximity to the ocean, people are willing to pay to live in coastal areas, even an area with a history of repeated direct and indirect strikes by hurricanes. Originality/value Unlike much of the peer-reviewed research that looks at a single occurrence of a natural disaster, this research looks at the impacts of multiple hurricanes on a single county over 23 years to determine what impact, if any, these storms have on the overall housing market.

Do corporate diversification and earnings management practices affect capital structure?

2015 ◽  
Vol 7 (4) ◽  
pp. 360-378 ◽  
Author(s):  
Ranjitha Ajay ◽  
R Madhumathi
Keyword(s):  
Capital Structure ◽  
Earnings Management ◽  
Management Practices ◽  
Negative Relationship ◽  
Corporate Diversification ◽  
Content Type ◽  
Diversification Strategies ◽  
Market Product ◽  
Diversified Firms ◽  
The Impact

Purpose – The purpose of this paper is to empirically examine the impact of earnings management on capital structure across firm diversification strategies. Design/methodology/approach – The study focuses on firms operating in the manufacturing sector (diversified and focused). Panel data methodology compares diversification strategies and identifies the impact of diversification strategy with earnings management practices on capital structure decision. Findings – International and product diversified firms have lower levels of leverage than focused firms in their capital structure. Asset-based earnings management is positive for diversified (market/product) firms. Earnings management using discretionary expenditure (project based) is found to be higher for market diversified but product-focused firms. Earning smoothing method is found to be significant for focused firms and shows a negative relationship with capital structure. Originality/value – This study offers an insight into the relationship between corporate diversification, earnings management and capital structure decisions of manufacturing firms. The results provide an important contribution to accounting and strategy literature. A distinction is made between market- and product-diversified firms and influence of earnings management practices (asset-based, project-based and earnings smoothing (ESM)) on capital structure decisions. Diversified firms (market/product) tend to have lower levels of leverage than focused firms and earnings management practices within firm groups significantly influence the capital structure decisions.

Bankruptcy filings, flooding, real estate prices and Leading Index

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Billie Ann Brotman
Keyword(s):  
Housing Prices ◽  
The United States ◽  
Flood Insurance ◽  
Single Family ◽  
Personal Bankruptcy ◽  
Content Type ◽  
Independent Variables ◽  
Flooding Event ◽  
Flooding Events ◽  
The Impact

PurposeFlood damage to uninsured single-family homes shifts the entire burden of costly repairs onto the homeowner. Homeowners in the United States and in much of Europe can purchase flood insurance. The Netherlands and Asian countries generally do not offer flood insurance protection to homeowners. Uninsured households incur the entire cost of repairing/replacing properties damaged due to flooding. Homeowners’ policies do not cover damage caused by flooding. The paper examines the link between personal bankruptcy and the severity of flooding events, property prices and financial condition levels.Design/methodology/approachA fully modified ordinary least squares (FMOLS) regression model is developed which uses personal bankruptcy filings as its dependent variable during the years 2000 through 2018. This time-series model considers the association between personal bankruptcy court filings and costly, widespread flooding events. Independent variables were selected that potentially act as mitigating factors reducing bankruptcy filings.FindingsThe FMOLS regression results found a significant, positive association between flooding events and the total number of personal bankruptcy filings. Higher flooding costs were associated with higher bankruptcy filings. The Home Price Index is inversely related to the bankruptcy dependent variable. The R-squared results indicate that 0.65% of the movement in the dependent variable personal bankruptcy filings is explained by the severity of a flooding event and other independent variables.Research limitations/implicationsThe severity of the flooding event is measured using dollar losses incurred by the National Flood Insurance program. A macro-case study was undertaken, but the research results would have been enhanced by examining local areas and demographic factors that may have made bankruptcy filing following a flooding event more or less likely.Practical implicationsThe paper considers the impact of the natural disaster flooding on bankruptcy rates filings. The findings may have implications for multi-family properties as well as single-family housing. Purchasing flood insurance generally mitigates the likelihood of severe financial risk to the property owner.Social implicationsNatural flood insurance is underwritten by the federal government and/or by private insurers. The financial health of private property insurers that underwrite flooding and their ability to meet losses incurred needs to be carefully scrutinized by the insured.Originality/valuePrior studies analyzing the linkages existing between housing prices, natural disasters and bankruptcy used descriptive data, mostly percentages, when considering this association. The study herein posits the same questions as these prior studies but used regression analysis to analyze the linkages. The methodology enables additional independent variables to be added to the analysis.

People-centred management for improving construction workers' productivity in Zimbabwe

2021 ◽  
Vol 11 (2) ◽  
pp. 350-368
Author(s):  
Tirivavi Moyo ◽  
Gerrit Crafford ◽  
Fidelis Emuze
Keyword(s):  
Labour Productivity ◽  
Construction Workers ◽  
Primary Data ◽  
Related Factors ◽  
Content Type ◽  
Construction Companies ◽  
The People ◽  
Significant Difference ◽  
High Concern ◽  
The Impact

PurposeWhile operational factors reduce construction workers' productivity in Zimbabwe, the impact of the people-centred management aspects has not been empirically interrogated as a remedy. This article reports on a study that sought to determine significant people-centred management aspects that lead to improved labour productivity and assesses the existence of statistically significant differences due to the demographic variables of respondents. Demographic-specific strategies that enhance construction “workers” productivity were revealed.Design/methodology/approachThe survey research design using a self-administered questionnaire was deployed to collect the primary data. The design followed a positivist paradigm to evaluate objectively how people-centred management affects construction workers' productivity. The statistical data were descriptively and inferentially analysed.FindingsPeople-centred management was determined to be significant in improving construction workers' productivity, with the most significant aspect being the building of employee confidence in related approaches. Designations and educational levels mostly indicated a statistically significant difference in several aspects that included the adoption of a functional reward culture for workers and training on people-centred principles. Training on-site management and construction workers in people-centred management and its application are crucial to improving construction workers' productivity.Research limitations/implicationsConstruction companies should drastically improve their concern for people while they sustain a high concern for production within their construction sites. Although several factors affect construction workers' productivity, this study determined that management-related factors and people-centred management were significant towards influencing low productivity in Zimbabwe.Originality/valueThe study determined people-centred management and demographic-specific interventions as being able to improve construction workers' productivity in Zimbabwe.

Kit preparation for mixed-model assembly: efficiency impact of confirmation methods

2019 ◽  
Vol 119 (3) ◽  
pp. 547-560 ◽  
Author(s):  
Patrik Fager
Keyword(s):  
Learning Curve ◽  
Design Methodology ◽  
Mixed Model ◽  
Early Stage ◽  
Time Efficiency ◽  
Content Type ◽  
Order Batching ◽  
The Impact ◽  
Mixed Model Assembly ◽  
Practical Implications

PurposeConfirmations are applied in kit preparation for mixed-model assembly to promote quality, but research that explains the impact on time efficiency has been lacking. The purpose of this paper is to determine the extent to which the type of confirmation method relates to time-efficient kit preparation when order batching is applied.Design/methodology/approachAn industrially relevant laboratory experiment is applied, simulating kit preparation with order batching for mixed-model assembly. The time efficiency is studied as associated with four confirmation methods – barcode ring scanner, button presses, voice commands and RFID-reading wristbands – when applied as pick-from and place-to confirmation. Furthermore, the paper also considers the quality outcome.FindingsEfficiency is promoted by methods that minimise interrupting the picker’s motions when performing pick-from confirmations and with methods that allow each hand to place components and perform place-to confirmations simultaneously – here represented by button presses and RFID-reading wristbands. Moreover, combining various methods for the tasks of pick-from or place-to confirmation can benefit efficiency.Research limitations/implicationsPickers at an early stage of the learning curve (one shift of training) were considered.Practical implicationsThe findings promote the customised applications of picking information systems in industry.Social implicationsCombining various methods for the tasks of pick-from and place-to confirmation can provide more fitting applications that better align with the picker’s preferences.Originality/valueCombinations of various methods when applied as either pick-from or place-to confirmation, or both, are studied.

Managerial ability and chemical releases

2017 ◽  
Vol 8 (3) ◽  
pp. 281-306 ◽  
Author(s):  
Li Sun
Keyword(s):  
Environmental Protection Agency ◽  
Negative Relationship ◽  
Pollution Prevention ◽  
Managerial Ability ◽  
Policy Makers ◽  
Content Type ◽  
Interest Policy ◽  
Corporate Social ◽  
Chemical Releases ◽  
The Impact

Purpose This study aims to examine the impact of managerial ability on the total amount of chemical releases reported to the Toxics Release Inventory (TRI) at the US Environmental Protection Agency. Design/methodology/approach Regression analysis is used to examine the association between managerial ability and chemical releases. Findings A negative relationship was found between managerial ability and TRI’s chemical releases, suggesting that more-able managers better reduce TRI’s chemical releases, relative to less-able managers. Practical implications By providing useful insights into what determines TRI’s chemical releases, this study should interest policy makers and practitioners. Originality/value This study contributes to and links two research schools: managerial ability in management literature and corporate social responsibility (i.e. pollution prevention) in the broad business literature. To the best of the author’s knowledge, this is the first empirical study that performs a direct test of the association between managerial ability and TRI’s toxic chemical releases.

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