scholarly journals The Impact of Single-Family Rental REITs on Regional Housing Markets: A Case Study of Nashville, TN

Societies ◽  
2018 ◽  
Vol 8 (4) ◽  
pp. 93 ◽  
Author(s):  
Ken Chilton ◽  
Robert Silverman ◽  
Rabia Chaudhrey ◽  
Chihaungji Wang
Keyword(s):  
Real Estate ◽  
Census Data ◽  
Housing Markets ◽  
Future Research ◽  
Individual Investors ◽  
Single Family ◽  
Real Estate Investment ◽  
Wealth Concentration ◽  
The Impact ◽  
The U.S

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.

The uneven geography of real estate investment by Mainland Chinese state-owned and private enterprises in the U.S.: Local market conditions, migration, and ethnic networks

2022 ◽  
pp. 0308518X2110675
Author(s):  
Lisha He ◽  
Mia M Bennett ◽  
Ronghao Jiang
Keyword(s):  
Real Estate ◽  
Institutional Environment ◽  
State Level ◽  
State Intervention ◽  
Private Enterprises ◽  
Local Market ◽  
Real Estate Investment ◽  
Mainland Chinese ◽  
Chinese Investment ◽  
The U.S

Since the 2010s, foreign direct investment in real estate (FDIRE) by Mainland Chinese firms has emerged as a major force within global real estate markets, challenging Western investors’ traditional dominance. It is unclear, however, whether Mainland Chinese FDIRE is fueled by the same motivations as those of investors from advanced economies, which to date have represented both the primary investors and main objects of study. One major difference may be that Mainland Chinese investment originates in an institutional environment comprised of strong state intervention and social networks important for fostering business and ethnic ties. To uncover the potentially unique determinants and heterogeneity of Mainland Chinese corporate real estate investors, we build and analyze a state-level panel dataset of Mainland Chinese FDIRE by state-owned enterprises and private enterprises in the U.S. from 2010 to 2017. Our empirical results reveal the importance of Chinese migrants in promoting Mainland Chinese real estate investment, especially by private enterprises. Our findings also demonstrate that at the state level, Mainland Chinese FDIRE exhibits few agglomerative tendencies.

scholarly journals New Insights into Rental Housing Markets across the United States: Web Scraping and Analyzing Craigslist Rental Listings

2017 ◽  
Author(s):  
Geoff Boeing
Keyword(s):  
Census Data ◽  
Rental Housing ◽  
Housing Markets ◽  
The United States ◽  
Spatial And Temporal Patterns ◽  
Single Digit ◽  
Fine Grained ◽  
Alternative Sources ◽  
Apartment Complexes ◽  
The U.S

Current sources of data on rental housing – such as the census or commercial databases that focus on large apartment complexes – do not reflect recent market activity or the full scope of the U.S. rental market. To address this gap, we collected, cleaned, analyzed, mapped, and visualized 11 million Craigslist rental housing listings. The data reveal fine-grained spatial and temporal patterns within and across metropolitan housing markets in the U.S. We find some metropolitan areas have only single-digit percentages of listings below fair market rent. Nontraditional sources of volunteered geographic information offer planners real-time, local-scale estimates of rent and housing characteristics currently lacking in alternative sources, such as census data.

DOES CHANGE IN ECONOMIC POLICY UNCERTAINTY AFFECT REAL ESTATE INVESTMENT TRUSTS (REITs)?

2019 ◽  
Vol 14 (04) ◽  
pp. 1950016
Author(s):  
RANJEETA SADHWANI ◽  
SURESH KUMAR OAD RAJPUT ◽  
ASAD ALI-RIND ◽  
MUHAMMAD TAHIR SULEMAN
Keyword(s):  
Economic Policy ◽  
Real Estate ◽  
Positive Relationship ◽  
Real Estate Investment Trusts ◽  
Policy Uncertainty ◽  
Real Estate Investment ◽  
Macroeconomic Variables ◽  
Economic Policy Uncertainty ◽  
Investment Trusts ◽  
The Impact

This study aims to find the impact of change in economic policy uncertainty (EPU) on the returns and volatilities of 11 CRSP Ziman value-weighted US real estate investment trusts (REITs) during 1985–2016. The results indicate that the change in EPU has a positive relationship with volatility and a negative one with the REITs returns. Among EPU components, news-based component has the major impact than the others. Change in economic policy uncertainty has a significant impact on the returns of all the indices except hybrid, healthcare and unclassified REITs after controlling for macroeconomic variables. Whereas, the volatility is mainly explained by its own past values and macroeconomic variables.

The Land Market in Mexico under Salinas: A Real-Estate Boom Revisited?

1993 ◽  
Vol 25 (5) ◽  
pp. 627-651 ◽  
Author(s):  
G Jones ◽  
E Jiménez ◽  
P Ward
Keyword(s):  
Real Estate ◽  
Developing Economies ◽  
Empirical Studies ◽  
Housing Markets ◽  
Land Market ◽  
Real Estate Investment ◽  
Land Prices ◽  
Urban Political Economy ◽  
Carlos Salinas De Gortari ◽  
Investment Portfolios

It is a central contention of urban political economy that changes in the macroeconomy will have demonstrable effects on land and housing markets. However, in few empirical studies has this relationship been investigated, particularly in cities of developing economies. The structure of the land market in Mexico under the changing economic conditions heralded by the election of Carlos Salinas de Gortari as Mexican President for the six-year ( sexenio) period 1988–94 is studied in this paper. It is argued that the immediate policies of Salinas, especially the control of inflation, brought about a return to the favourable conditions of real-estate investment that had existed throughout most of the 1970s. But more recent policies and particularly those of economic liberalization may not bode quite so well for those wishing to place a large part of their investment portfolios in real estate. The paper concludes with some comments on the development of the land market and land prices as the Salinas sexenio progresses and some speculations about the type of legacy that will be left for his successor.

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