Effect of Ownership Composition on Property Prices and Rents: Evidence from Chinese Investment Boom in US Housing Markets

This article examines the causal relations between immigration and the characteristics of the housing market in host regions. We constructed a unique database from administrative records and used it to assess annual migration flows into France’s twenty-two administrative regions from 1990 to 2013. We then estimated various panel vector autoregression models, taking into account gross domestic product per capita and the unemployment rate as the main regional economic indicators. We find that immigration has no significant effect on property prices but that higher property prices significantly reduce immigration rates. We also find no significant relationship between immigration and social housing supply.

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Price Convergence in the Regional Housing Markets in Poland

Real Estate Management and Valuation ◽

10.2478/remav-2019-0014 ◽

2019 ◽

Vol 27 (2) ◽

pp. 44-52 ◽

Cited By ~ 1

Author(s):

Konrad Żelazowski

Keyword(s):

Significant Variation ◽

Social Economic ◽

Housing Markets ◽

Price Convergence ◽

Residential Real Estate ◽

Relative Prices ◽

Property Prices ◽

Term Similarity ◽

Regional Basis

Abstract Average prices of residential real estate usually show significant variation on a regional basis. This reflects different social, economic or historical conditions for the development of these markets. In addition, research so far has not provided strong evidence supporting convergence in the level of property prices in the regional dimension. The lack of price convergence, however, does not exclude convergence in the direction and strength of price changes. The article is an attempt to answer the question of whether price trajectories in the regional housing markets in Poland show long-term similarity. To this end, econometric analysis of the dynamics of relative prices in the voivodship markets with the use of quarterly data from the years 2002-2016 has been conducted.

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Younger Canadians will seek new housing markets

Emerald Expert Briefings ◽

10.1108/oxan-db240798 ◽

2018 ◽

Keyword(s):

Housing Market ◽

Consumer Price Index ◽

Housing Markets ◽

Real Estate Investment ◽

Short Term ◽

Content Type ◽

Chinese Investment ◽

Mortgage Interest ◽

Home Values ◽

Interest Payments

Subject Canada's housing market. Significance Data released on December 19 showed that consumer price index (CPI) inflation slowed to 1.7% year-on-year in November, the slowest since January 2018. However, mortgage interest payments were one source of upward pressure. Impacts Foreign real estate investment will move from Vancouver and Toronto to Montreal and Ottawa, raising home values. Home prices in suburban Toronto and Vancouver will rise as urbanites seek cheaper alternatives to downtown housing. Canada-China tensions could reduce Chinese investment in Canada’s housing market in the short term.

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The Price of Preserving Neighborhoods: The Unequal Impacts of Historic District Designation

Economic Development Quarterly ◽

10.1177/0891242420941932 ◽

2020 ◽

Vol 34 (4) ◽

pp. 343-355

Author(s):

Tetsuharu Oba ◽

Douglas Simpson Noonan

Keyword(s):

Economic Development ◽

Regression Model ◽

Local Economic Development ◽

Property Values ◽

Housing Markets ◽

Property Value ◽

Average Effect ◽

Historic Districts ◽

Quantile Regression Model ◽

Property Prices

Policies affecting cultural assets are popular yet imperfectly understood tools to shape local economic development. Historic preservation policies, for example, can have markedly different implications for original residents, prospective residents, and developers, even in the same city. Therefore, merely identifying its average effect can obscure important heterogeneity in its impact. This study examines the property value impacts of local and national historic districts across the distribution of property prices and how those differential impacts vary with the restrictiveness of the policy. A quantile regression model identifies the heterogeneity of effects among higher and lower end properties. The results reveal large differences between national and local districts, interior and buffer properties, and for different property values. These findings highlight the importance of and complexity in how housing markets react to attempts to guide local economic development.

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Circuits of Capital, Ground Rent and the Production of the Built Environment: A (New) Framework for Analysis

Human Geography ◽

10.1177/194277861600900303 ◽

2016 ◽

Vol 9 (3) ◽

pp. 27-42

Author(s):

Karl Beitel

Keyword(s):

Housing Markets ◽

Urban Housing ◽

Land Market ◽

Neoclassical Economics ◽

Internal Factors ◽

Property Prices ◽

Contrasting View ◽

General Demand ◽

New Framework

This paper develops prior work on Marxian theories of ground rent and property investment to outline a framework for interpreting the long-term rise in property prices observed in the neoliberal period. Orthodox economists and private developers have consistently maintained that the primary barrier to addressing affordability problems in expensive urban regions is excessive regulation. A diametrically contrasting view is developed in this paper. I argue the affordability crisis expresses the confluence and interaction of three primary factors: widening income and wealth disparities; the fictitious nature of land as a commodity, and the ability of property developers to extract surplus profits. Land is not a genuine commodity; and housing is a heterogeneous economic good whose production is targeted toward particular buyers of this good. Contra the hypothetical constructions of neoclassical economics, there is no “general supply” or “general demand” in urban housing markets. I show why increased production can lead the market toward higher overall levels of rents and prices. The primary counter-tendency to this basic dynamic is recurrent overproduction crises, with some modicum of affordability restored only through a collapse of prices once markets become severely overbuilt. Internal factors within the land market operate to limit the actual fall in prices, so that the longer-term trend in the neoliberal period shows a pronounced inflationary bias.

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House prices and associated risks are rising globally

Emerald Expert Briefings ◽

10.1108/oxan-db245531 ◽

2019 ◽

Keyword(s):

Real Estate ◽

House Prices ◽

Housing Markets ◽

Global Property ◽

Financial Flows ◽

Content Type ◽

Real Estate Markets ◽

Emerging Nations ◽

Property Prices ◽

The World

Subject Global property prices. Significance House prices have surged in the last five years, mostly in high-income economies where demand has rebounded after falling in the aftermath of the 2008-09 recession. Adjusted for inflation, house prices rose steadily across the world between 2013 and 2018, raising concerns about the downside risks associated with overvaluations. Impacts Housing markets are difficult to tune; lenient policies aimed at supporting immediate activity will increase longer-run risks. Real estate markets are becoming more synchronised, and more exposed to common downside risks if global financial flows drop. Cities and financial centres in advanced and emerging nations are most exposed as they enjoy more flows of volatile capital.

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2008 Economy Results: The End of the "Fat" Years

Voprosy Ekonomiki ◽

10.32609/0042-8736-2009-3-4-25 ◽

2009 ◽

pp. 4-25 ◽

Cited By ~ 2

Author(s):

B. Zamaraev ◽

A. Kiyutsevskaya ◽

A. Nazarova ◽

E. Sukhanov

Keyword(s):

Economic Crisis ◽

National Economy ◽

Banking System ◽

Housing Markets ◽

Transmission Mechanism ◽

Economic Conditions ◽

Basic Change ◽

Russian Economy ◽

The World

The article analyzes the current economic conditions in Russia. Succession, distribution and the transmission mechanism of the world financial and economic crisis to the Russian economy are considered in this article as well as the changes in the banking system, share and housing markets. Production, consumption and investment on the boundary of 2008-2009 are described. The conclusion about the basic change of conditions of national economy development is presented.

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