The Gordon Growth Model is used to derive widely differing fundamental values of the same gross rental yield for six hypothetical housing purchasers listed in declining order of magnitude: a fully funded consumer with a marginal tax rate of 40%, a fully funded buy to let investor with a marginal...

This paper investigates the incentives of agents working with buyers (buying agents) under the fixed percentage commission system (FPCS) and the implications on housing market outcomes. Our model shows that the FPCS without a binding contract between the buyer and the buying agent could produce...

The recent global financial crisis, sparked by developments in the American mortgage market, provides a timely opportunity for a thorough analysis of the standard model for financing home purchases. The United States residential mortgage market has two prominent aspects: first, a significant...

The recourse-non-recourse dimension is fundamental in any loan as it deals most directly with the pool of assets out of which lender can collect at delinquency and default. This paper calls attention to an exceptional feature of the American home mortgage market, compared to mortgage markets...

According to the RF Federal Service for State Registration, Cadastre and Cartography (Rosreestr), the land area in the ownership of RF individuals continues to decrease. As of 1 January 2012, it amounted to 119.6 million hectares (m ha) (7% of the total land surface) vs. 121.4 m ha (7.1%) in...

126,100 apartments covering a total of 10.4 million square meters floor space were constructed in Q1 2013, accounting for 106.5% against Q1 2012. Average actual cost of construction of 1 square meter in the housing total floor space increased 7.89% in Q1 2013 vs. Q1 2012 and amounted to Rb...

Despite growth in interest rates on MHL in rubles in the first quarter of 2013, the total volume of the extended MHL exceeded by 25.18% (142,393 loans worth Rb 226.94bn during the quarter) the volume of loans extended in the 1st quarter 2012. As of April 1, 2013, the share of the overdue debt in...