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To develop a price index for the housing market in Italy, we adopt the hedonic approach which enables us to separate the price variations due to qualitative changes in housing attributes from pure price changes, i.e.intrinsic real estate price variations. The resulting index is munch more robust...
Persistent link: https://www.econbiz.de/10014210914
What is Housing Price to Income Ratio (HPIR) in the Indian context?It is the amount that can be spent by an individual or a household on purchase of new property (mainly house/residence) with the annual savings post taxes. For simple calculations it is assumed is that a. 10% of the income goes...
Persistent link: https://www.econbiz.de/10012823112
Systemic risk must include the housing market, though economists have not generally focused on it. We begin construction of an agent-based model of the housing market with individual data from Washington, DC. Twenty years of success with agent-based models of mortgage prepayments give us hope...
Persistent link: https://www.econbiz.de/10013109559
Urban renewal programs have been implemented in many countries to fight housing decay, poverty concentration, and associated social ills in the last decades. In this paper, we propose an evaluation of a large-scale urban renewal program launched in France in 2004. Using a novel estimator aimed...
Persistent link: https://www.econbiz.de/10014352142
The increasing availability of geospatial data (i.e., exact longitudes and latitudes for each house) has the potential to improve the quality of house price indexes. It is not clear though how best to use this information. We show how geospatial data can be included as a nonparametric spline...
Persistent link: https://www.econbiz.de/10010359519
In this paper, I quantify the effect of buyers' uncertainty about a home's quality on its pricing and liquidity. I first develop a parsimonious model of home sale in which buyers learn about the home's quality from a walkthrough and from the home's days-on-market. Quality uncertainty distorts...
Persistent link: https://www.econbiz.de/10012900725
Residential choice does not only depend on properties of the dwelling, neighborhood amenities and affordability, but is also affected by the population composition within a neighbourhood. All these attributes are capitalised in the house price. Empirically, it is not easy to disentangle the...
Persistent link: https://www.econbiz.de/10012433602
The study examined the relationships between residents’ socioeconomic characteristics and the housing quality standard in Abeokuta, Nigeria. Systematic sampling technique was used to select 198 household heads for questionnaire administration. The findings revealed that socioeconomic factors...
Persistent link: https://www.econbiz.de/10011943069
The rising concentration of low-income households and ethnic minorities has become an important policy issue in Germany. The Ruhr Area is particularly interesting, because it is one of the largest conurbations in Europe and experienced radical structural changes in the past, which are connected...
Persistent link: https://www.econbiz.de/10012549543
This paper estimates the demand for housing attributes of households located in the Greater Zurich area. A revealed-preferences approach is used, in which a structural hedonic model is identified and estimated. This approach explicitly accounts for the heterogeneity of preferences and for...
Persistent link: https://www.econbiz.de/10014225549