Florida has long been a beacon for retirees, but for many, the
American dream of owning a home there was a fantasy. That changed
in the 1950s, when the so-called "installment land sales industry"
...hawked billions of dollars of Florida residential property, sight
unseen, to retiring northerners. For only $10 down and $10 a month,
working-class pensioners could buy a piece of the Florida dream: a
graded home site that would be waiting for them in a planned
community when they were ready to build. The result was Cape Coral,
Port St. Lucie, Deltona, Port Charlotte, Palm Coast, and Spring
Hill, among many others-sprawling communities with no downtowns,
little industry, and millions of residential lots. In The Swamp
Peddlers , Jason Vuic tells the raucous tale of the sale of
residential lots in postwar Florida. Initially selling cheap homes
to retirees with disposable income, by the mid-1950s developers
realized that they could make more money selling parcels of land on
installment to their customers. These "swamp peddlers" completely
transformed the landscape and demographics of Florida, devastating
the state environmentally by felling forests, draining wetlands,
digging canals, and chopping up at least one million acres into
grid-like subdivisions crisscrossed by thousands of miles of roads.
Generations of northerners moved to Florida cheaply, but at a huge
price: high-pressure sales tactics begat fraud; poor urban planning
begat sprawl; poorly-regulated development begat environmental
destruction, culminating in the perfect storm of the 21st-century
subprime mortgage crisis.
This iteration of the rankings is the ninth release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. The top three real estate journals - The Journal of Real ...Estate Finance and Economics, The Journal of Real Estate Research, and Real Estate Economics – continue to serve as the basis for these rankings. Trends in the rankings continue to highlight the fact that an author does not need to be in academia to produce high-quality research published in the top real estate journals. Additionally, changes in the rankings reflect stability and staying power of author productivity and institutional productivity. Compared to previous iterations of the rankings, there are fewer changes in institutional rankings based on the movement of a productive individual.
This article examines the effects of walkability on property values and investment returns. Walkability is the degree to which an area within walking distance of a property encourages walking for ...recreational or functional purposes. We use data from the National Council of Real Estate Investment Fiduciaries and Walk Score to examine the effects of walkability on the market value and investment returns of more than 4,200 office, apartment, retail and industrial properties from 2001 to 2008 in the United States. We found that, all else being equal, the benefits of greater walkability were capitalized into higher office, retail and apartment values. We found no effect on industrial properties. On a 100‐point scale, a 10‐point increase in walkability increased values by 1–9%, depending on property type. We also found that walkability was associated with lower cap rates and higher incomes, suggesting it has been favored in both the capital asset and building space markets. Walkability had no significant effect on historical total investment returns. All walkable property types have the potential to generate returns as good as or better than less walkable properties, as long as they are priced correctly. Developers should be willing to develop more walkable properties as long as any additional cost for more walkable locations and related development expenses do not exhaust the walkability premium.
This is the eighth release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. Similar to the previous seven releases, the rankings reflect articles contained in the ...top three real estate journals (The Journal of Real Estate Finance and Economics, The Journal of Real Estate Research, and Real Estate Economics) based on multiple indices. Unlike trends from the previous rankings, minor changes regarding academic institutions reflected one of two scenarios: faculty retirements and/or deaths; and faculty and recent PhD graduates transitioning to positions in industry rather than academia. Larger changes in the rankings related to academic institutions continue to reflect movement of productive research faculty from one university to another university.
The book integrates research-based theory with practical application and first-hand insights into a sector that underpins the Australian economy, its communities and its sustainability.
As real estate forms a significant part of the asset portfolios of most investors and lenders, it is crucial that analysts and institutions employ sound techniques for modelling and forecasting the ...performance of real estate assets. Assuming no prior knowledge of econometrics, this book introduces and explains a broad range of quantitative techniques that are relevant for the analysis of real estate data. It includes numerous detailed examples, giving readers the confidence they need to estimate and interpret their own models. Throughout, the book emphasises how various statistical techniques may be used for forecasting and shows how forecasts can be evaluated. Written by a highly experienced teacher of econometrics and a senior real estate professional, both of whom are widely known for their research, Real Estate Modelling and Forecasting is the first book to provide a practical introduction to the econometric analysis of real estate for students and practitioners.
Co-Listing Strategies: Better Transaction Outcomes? Allen, Marcus T.; Benefield, Justin D.; Rutherford, Ronald C.
The journal of real estate finance and economics,
10/2023, Letnik:
67, Številka:
3
Journal Article
Recenzirano
A co-listing strategy exists when two or more listing agents jointly represent the owner of a property who desires to sell it. This strategy is not new in the real estate brokerage industry, but its ...popularity has increased during recent years with the formation of teams of agents who repeatedly work together using the co-listing strategy. To date, the literature has not analyzed this business strategy. This study investigates the probability of selling, selling price, and time on market effects related to the use of the co-listing strategy. The results of this study indicate that co-listing is associated with a higher probability of sale, an increased selling price, and a marginal longer or shorter marketing time, depending on the situation. Comparing market outcomes for agents who form teams and repeatedly employ the co-listing strategy against market outcomes for agents who are involved in only one co-listing indicates that both types of co-listing produce higher prices and are more likely to result in a sale, but the effects for repeated co-listings are larger in magnitude. Additionally, repeated co-listing slightly reduces marketing time, but single co-listing slightly increases marketing time. The marketing time effects in both repeated and single co-listings, however, are too small to be economically important. In general, this study suggests that sellers are better served by the co-listing strategy compared to no co-listing, especially when the co-listing agents repeatedly work together in teams.
Challenges of the Housing Economy Jones, Colin; White, Michael; Dunse, Neil
2012, 2012., 2012-03-05, 2012-02-24, 20120101, Letnik:
60
eBook
This timely book addresses key challenges faced by policy makers and the house-building industry in a post-credit crunch world. It examines the implications for households, the housing market, the ...economy, as well as for government's policy choices.Challenges of the Housing Economy: an international perspectivebrings together experts from around the world to examine recent housing market trends. The contributions reveal common long-term trends in housing markets worldwide. Despite differences in supply conditions and the role of planning, there is a trend toward rising house prices that has created significant barriers to home ownership for young households while increasing the wealth of older generations. The financial crisis had a differential impact on housing markets but in many countries where mortgage finance became severely constrained, house prices fell and there was a dramatic fall in housing construction. The falls in house prices in these countries have ostensibly improved affordability but the housing markets have been dominated by the lowering of loan to values applicable to new mortgages which has further raised the hurdles to potential first-time purchasers.At the same time as young households are increasingly rationed out of owner-occupation, public sector expenditure cut-backs in many countries result in limited new social housing. Instead, value for money imperatives will mean new funding models for affordable housing that require greater use of public-private partnerships. The private rented sector could potentially meet the demand for the new generation of long-term renters. However, there are doubts - in the UK at least - that this sector will be able to expand significantly or provide an appropriate type and standard of housing.This is an essential advanced text for students and researchers of land economy and land management; property and real estate; housing policy; and urban studies.
Real‐time release testing (RTRT) is defined as “the ability to evaluate and ensure the quality of in‐process and/or final drug product based on process data, which typically includes a valid ...combination of measured material attributes and process controls” (ICH Q8R2). This article discusses sensors (process analytical technology, PAT) and control strategies that enable RTRT for the spectrum of critical quality attributes (CQAs) in biopharmaceutical manufacturing. Case studies from the small‐molecule and biologic pharmaceutical industry are described to demonstrate how RTRT can be facilitated by integrated manufacturing and multivariable control strategies to ensure the quality of products. RTRT can enable increased assurance of product safety, efficacy, and quality—with improved productivity including faster release and potentially decreased costs—all of which improve the value to patients. To implement a complete RTRT solution, biologic drug manufacturers need to consider the special attributes of their industry, particularly sterility and the measurement of viral and microbial contamination. Continued advances in on‐line and in‐line sensor technologies are key for the biopharmaceutical manufacturing industry to achieve the potential of RTRT.
Related article: http://onlinelibrary.wiley.com/doi/10.1002/bit.26378/full
Sensors (process analytical technology, PAT) and control strategies are reviewed that enable real‐time release testing (RTRT) for the spectrum of critical quality attributes (CQAs) in biopharmaceutical manufacturing. To implement a complete RTRT solution, biologic drug manufacturers need to consider the special attributes of their industry, particularly sterility and the measurement of viral and microbial contamination. Continued advances in on‐line and in‐line sensor technologies are key for the biopharmaceutical manufacturing industry to achieve the potential of RTRT.
