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Displaying results 1 to 15 of 15.

  1. The real estate market in Portugal
    prices, rents, tourism and accessibility
    Contributor: Rodrigues, Paulo M. M. (HerausgeberIn)
    Published: March 2022
    Publisher:  Fundação Francisco Manuel dos Santos, Lisboa

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    Source: Union catalogues
    Contributor: Rodrigues, Paulo M. M. (HerausgeberIn)
    Language: Portuguese
    Media type: Ebook
    Format: Online
    ISBN: 9789899064805
    Series: Estudos da Fundação
    Subjects: Immobilienmarkt; Wohneigentum; Immobilienpreis; Portugal
    Scope: 1 Online-Ressource (circa 172 Seiten), Illustrationen
  2. Economic Crises and Mental Health
    Effects of the Great Recession on Older Americans
    Author: Cutler, David M.; Sportiche, Noémie
    Published: March 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We examine the effect of the Great Recession of 2007-2009 on the mental health of older adults, using longitudinal Health and Retirement Study data linked to area-level data on house prices. We use a variety of measures to capture mental health and... more

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    We examine the effect of the Great Recession of 2007-2009 on the mental health of older adults, using longitudinal Health and Retirement Study data linked to area-level data on house prices. We use a variety of measures to capture mental health and rely on the very large cross-sectional variation in falling house prices to identify the impact of the Great Recession on those outcomes. We also account for people who moved in response to falling prices by fixing each person's location immediately prior to the house price collapse. Our central finding is that the Great Recession had heterogeneous effects on health. While mental health was not affected for the average older adult, mental health declined among homeowners with few financial assets, who were therefore more vulnerable to falling house prices. Importantly, health impacts in this group differed by race and ethnicity: depression and functional limitations worsened among Black and other non-white homeowners and medication use increased among white homeowners. There were no measurable impacts for Hispanic homeowners. These results highlight the importance of examining heterogeneity across multiple dimensions when examining the health impacts of economic conditions

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w29817
    Subjects: Weltwirtschaftskrise; Immobilienpreis; Wirkungsanalyse; Psychische Krankheit; Ältere Menschen; Wohneigentum; USA
    Scope: 1 Online-Ressource, illustrations (black and white)
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  3. Human-Algorithm Interactions
    Evidence from Zillow.com
    Author: Fu, Runshan; Jin, Ginger Zhe; Liu, Meng
    Published: March 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Using bi-weekly snapshots of Zillow in three US cities, we document how home sellers and buyers interact with Zillow's Zestimate algorithm during the sales cycle of residential properties. We find that listing and selling outcomes respond... more

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    Using bi-weekly snapshots of Zillow in three US cities, we document how home sellers and buyers interact with Zillow's Zestimate algorithm during the sales cycle of residential properties. We find that listing and selling outcomes respond significantly to Zestimate, and Zestimate is quickly updated for the focal and comparable houses after a listing or a transaction is completed. The user-Zestimate interactions have mixed implications: on the one hand, listing price depends more on Zestimate if the city does not mandate disclosure of sales information or if the neighborhood is more heterogeneous, suggesting that Zestimate provides valuable information when alternative information is more difficult to obtain; on the other hand, the post-listing update of Zestimate tracks listing price more closely in non-disclosure and heterogeneous neighborhoods, raising the concern that the feedback loop may propagate disturbances in the sales process. However, by leveraging COVID-19 pandemic as a natural experiment, we find no evidence that Zestimate propagates the initial shock from the March-2020 declaration of national emergency, probably because Zestimate has built-in guard rails and users tend to adjust their confidence in Zestimate according to observed market outcomes

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w29880
    Subjects: Online-Handel; Künstliche Intelligenz; Wohnimmobilien; Wohnung; Wohneigentum; Immobilien; Wohnungsmarkt; USA
    Scope: 1 Online-Ressource, illustrations (black and white)
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  4. Do the retired elderly in Europe decumulate their wealth?
    the importance of bequest motives, precautionary saving, public pensions, and homeownership
    Author: Horioka, Charles; Ventura, Luigi
    Published: September 2022
    Publisher:  The Institute of Social and Economic Research, Osaka University, Osaka, Japan

    In this paper, we use micro data on a large number of European countries from the Survey of Health, Ageing and Retirement in Europe (SHARE) to examine the wealth accumulation (saving) behavior of the retired elderly in Europe. To summarize our main... more

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    In this paper, we use micro data on a large number of European countries from the Survey of Health, Ageing and Retirement in Europe (SHARE) to examine the wealth accumulation (saving) behavior of the retired elderly in Europe. To summarize our main findings, we find that less than half of the retired elderly in Europe are decumulating their wealth and that the average wealth accumulation rate of the retired elderly in Europe is positive though relatively moderate (6.6% over a 3-year period). These findings strongly suggest that the Wealth Decumulation (or Retirement Saving) Puzzle (the tendency of the retired elderly to not decumulate their wealth or to decumulate their wealth more slowly than expected) applies in the case of Europe. Moreover, our regression results suggest that bequest motives, generous public pension systems, and the reluctance of retired elderly homeowners to sell or borrow against their owner-occupied housing are the primary explanations for the existence of the Wealth Decumulation Puzzle in Europe. Journal of Economic Literature classification numbers: D14, D15, D64, E21, H55, J14 Keywords: Aged, bequests, bequest intentions, bequest motives, dissaving, elderly, Europe, household saving, inheritances, intergenerational transfers, life cycle model or hypothesis, precautionary saving, retired elderly, Retirement Saving Puzzle, saving, SHARE, wealth accumulation, wealth decumulation, Wealth Decumulation Puzzle

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/267801
    Series: Discussion paper / The Institute of Social and Economic Research ; no. 1189
    Subjects: Ältere Menschen; Altersgrenze; Private Finanzplanung; Vermögen; Wohneigentum; Erbe; Intergenerationale Übertragung; Gesetzliche Rentenversicherung; Europa
    Scope: 1 Online-Ressource (circa 42 Seiten)
  5. Housing Wealth and Online Consumer Behavior
    Evidence from Xiong'an New Area in China
    Author: Fang, Hanming; Wang, Long; Yang, Yang
    Published: September 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We provide new evidence on the causal effects of housing wealth on consumer behavior. To overcome the empirical challenge of non-random housing wealth changes, we exploit the unexpected announcement of China's newest national-level new area--Xiong'an... more

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    We provide new evidence on the causal effects of housing wealth on consumer behavior. To overcome the empirical challenge of non-random housing wealth changes, we exploit the unexpected announcement of China's newest national-level new area--Xiong'an New Area--on April 1, 2017 as an exogenous shock to housing prices. We use a proprietary dataset of individual-level online consumption from the largest e-commerce company in China to measure various aspects of consumer behavior, such as consumption patterns, purchase hesitation, tolerance to unsatisfied products, and shirking (proxied by making online purchases during work hours). We explore the underlying mechanisms through which the housing shock affects consumer behavior; in particular, we attempt to disentangle the realizable and unrealizable housing wealth effects

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w30465
    Subjects: Wohneigentum; Online-Handel; Konsumentenverhalten; China; Microeconomic Behavior: Underlying Principles; Retail and Wholesale Trade; e-Commerce; Real Estate Markets, Spatial Production Analysis, and Firm Location
    Scope: 1 Online-Ressource, illustrations (black and white)
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  6. Do the Retired Elderly in Europe Decumulate Their Wealth? The Importance of Bequest Motives, Precautionary Saving, Public Pensions, and Homeownership
    Author: Horioka, Charles; Ventura, Luigi
    Published: September 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    In this paper, we use micro data on a large number of European countries from the Survey of Health, Ageing and Retirement in Europe (SHARE) to examine the wealth accumulation (saving) behavior of the retired elderly in Europe. To summarize our main... more

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    In this paper, we use micro data on a large number of European countries from the Survey of Health, Ageing and Retirement in Europe (SHARE) to examine the wealth accumulation (saving) behavior of the retired elderly in Europe. To summarize our main findings, we find that less than half of the retired elderly in Europe are decumulating their wealth and that the average wealth accumulation rate of the retired elderly in Europe is positive though relatively moderate (6.6% over a 3-year period). These findings strongly suggest that the Wealth Decumulation (or Retirement Saving) Puzzle (the tendency of the retired elderly to not decumulate their wealth or to decumulate their wealth more slowly than expected) applies in the case of Europe. Moreover, our regression results suggest that bequest motives, generous public pension systems, and the reluctance of retired elderly homeowners to sell or borrow against their owner-occupied housing are the primary explanations for the existence of the Wealth Decumulation Puzzle in Europe

     
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  7. Future trends in housing tenure and the adequacy of retirement income
    Author: Slaymaker, Rachel; Roantree, Barra; Nolan, Anne; O'Toole, Conor
    Published: July 2022
    Publisher:  The Economic and Social Research Institute, Dublin

    In recent years, Ireland has experienced a notable decline in homeownership and a rise in the proportion of households in private rental accommodation. Concurrently, the cost of both rents and house prices have risen markedly and affordability... more

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    In recent years, Ireland has experienced a notable decline in homeownership and a rise in the proportion of households in private rental accommodation. Concurrently, the cost of both rents and house prices have risen markedly and affordability challenges in terms of meeting housing costs have been well documented. While these challenges are immediate in terms of the housing costs burden, a longer-term issue arises as to how renting households will manage the financial adjustment to retirement with ongoing rent payments. This transition historically in Ireland has been smoothed by high homeownership rates and mortgage amortisation which lowered the cost of housing payments and increased financial assets. Indeed, existing international evidence suggests that being a homeowner can provide a 'double dividend' of lowering housing costs and increasing assets in retirement. This can help manage changes to income in retirement and allow households to maintain their standard of living. The continued requirement to cover housing costs for renters in retirement can be seen as an additional vulnerability in terms of retirement income adequacy in Ireland, over and above the general concern of sufficient pension income. While considerable research to date has documented this well-known challenge of providing a sufficient standard of living in retirement for many households in Ireland, the drop in the homeownership rate layers an additional complication in terms of the policy challenge. To address these related issues, this report explores indicative future paths for homeownership rates in Ireland and explores the impact in terms of income poverty in retirement. Using data from the Survey on Income and Living Conditions (SILC) and the Irish Longitudinal Study on Ageing (TILDA), we consider a number of scenarios to assess the possibility of renting households becoming homeowners, and then test the impact on income poverty rates if households were to continue to have rental costs into retirement.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/268079
    Series: ESRI research series ; number 143
    Subjects: Besitzformwahl; Wohneigentum; Mietwohnung; Rentner; Altersvorsorge; Wohnkosten; Wohneigentumspolitik; Irland
    Scope: 1 Online-Ressource (circa 71 Seiten), Illustrationen
  8. Heterogenous Rates of Return on Homes and Other Real Estate
    Do the Rich Do Better? Do Black Households Do Worse?
    Author: Wolff, Edward N.
    Published: October 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Recent work on wealth inequality based on the capitalization method wherein aggregate wealth totals are distributed in proportion to various forms of income like dividends has motivated a concern about whether rates of return on assets vary across... more

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    Recent work on wealth inequality based on the capitalization method wherein aggregate wealth totals are distributed in proportion to various forms of income like dividends has motivated a concern about whether rates of return on assets vary across the wealth distribution. In this study, I use a new data source, accrued capital gains on homes and other real estate as reported in the Survey of Consumer Finances. I find strong econometric evidence that returns on homes vary directly with wealth level and are considerably higher for the very wealthy compared to the middle class and lower wealth households. However, there is no evidence from the preferred specification that Black or Hispanic families receive lower returns on their property once controlling for factors such as years of occupancy and overall house price movements in the market. The number of years of occupancy is also a highly significant determinant of returns on homes. The effect is strongly negative because communities of residence become less desirable and real properties deteriorate physically over time, both factors reducing property values. Returns on individual homes are also strongly related to overall house price movements in the market, suggesting that timing the market is a key determinant

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w30543
    Subjects: Wohnimmobilien; Wohneigentum; Rentabilität; Privater Haushalt; Schwarze Menschen; Hispano-Amerikaner; Vermögensverteilung; USA; Personal Income, Wealth, and Their Distributions; Household; Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
    Scope: 1 Online-Ressource, illustrations (black and white)
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  9. Disparities in Pollution Capitalization Rates
    The Role of Direct and Systemic Discrimination
    Author: Zivin, Joshua S. Graff; Singer, Gregor
    Published: December 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We examine how exogenous changes in exposure to air pollution over the past two decades have altered the disparities in home values between Black and White homeowners. We find that air quality capitalization rates are significantly lower for Black... more

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    We examine how exogenous changes in exposure to air pollution over the past two decades have altered the disparities in home values between Black and White homeowners. We find that air quality capitalization rates are significantly lower for Black homeowners. In fact, they are so much lower that, despite secular reductions in the Black-White pollution exposure gap, disparities in housing values have increased during this period. An exploration of mechanisms suggests that roughly one-quarter of this difference is the result of direct discrimination while the remaining three-quarters can be attributed to systemic discrimination through differential access to complementary amenities

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w30814
    Subjects: Luftverschmutzung; Wohneigentum; Ethnische Diskriminierung; USA; Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination; Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling; Housing Supply and Markets
    Scope: 1 Online-Ressource, illustrations (black and white)
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  10. The Effect of Financial Resources on Homeownership, Marriage, and Fertility
    Evidence from State Lotteries
    Author: Bulman, George; Goodman, Sarena; Isen, Adam
    Published: December 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    This paper leverages the universe of U.S. tax data and state lottery wins between 2000 and 2019 to estimate the causal effect of financial resources on three key lifecycle outcomes for young adults. We find large and persistent effects on... more

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    This paper leverages the universe of U.S. tax data and state lottery wins between 2000 and 2019 to estimate the causal effect of financial resources on three key lifecycle outcomes for young adults. We find large and persistent effects on homeownership, with a response function that exhibits substantial concavity but also an extremely high upper bound, and larger responses among higher-income individuals. Resources generate persistent increases in marriage for single men and women but do not increase the likelihood existing marriages are preserved. Fertility is modestly accelerated by a lottery win, but there is little effect on total fertility. Our results support a causal pathway behind differences in homeownership and marriage by socioeconomic status and inform theories of household formation and the family

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w30743
    Subjects: Glücksspiel; Vermögen; Wohneigentum; Ehe; Fertilität; USA; Household Behavior and Family Economics; Household Finance; Marriage; Marital Dissolution; Family Structure; Domestic Abuse; Fertility; Family Planning; Child Care; Children; Youth; Housing Demand
    Scope: 1 Online-Ressource, illustrations (black and white)
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  11. The Stench of Failure
    How Perception Affects House Prices
    Author: Cortés, Kristle; Singh, Mandeep; Solomon, David H.; Strahan, Philip E.
    Published: December 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    In Australian real estate markets, about a third of properties are sold at auction. We show that properties that fail auctions sell later for a 2.6% discount. This effect increases for properties failing multiple auctions and when no bids are made.... more

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    In Australian real estate markets, about a third of properties are sold at auction. We show that properties that fail auctions sell later for a 2.6% discount. This effect increases for properties failing multiple auctions and when no bids are made. Consistent with a causal channel, the effect holds when auction failure is instrumented by the tendency of owners to anchor on nearby better properties (and thus set reserve prices too high). Prices cluster just below salient round numbers, and the discount fades over time, inconsistent with our effects reflecting unobserved property characteristics. We test for several mechanisms and conclude that most of the pricing discounts reflect stigma, which reduces potential buyers' willingness to pay

     
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    Source: Union catalogues
    Language: English
    Media type: Book
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    Series: NBER working paper series ; no. w30760
    Subjects: Immobilienmarkt; Wohneigentum; Immobilienpreis; Konsumentenpräferenzen; Konsumentenverhalten; Australien; General; Real Estate Markets, Spatial Production Analysis, and Firm Location
    Scope: 1 Online-Ressource, illustrations (black and white)
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  12. Wohneigentumsbildung und Wohnflächenverbrauch
    Bestandsaufnahme und zukünftige Entwicklung
    Author: Ammann, Iris; Müther, Anna Maria
    Published: 2022
    Publisher:  Bundesinstitut für Bau-, Stadt- und Raumforschung (BBSR) im Bundesamt für Bauwesen und Raumordnung (BBR), Bonn

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    Leibniz-Institut für Wirtschaftsforschung Halle, Bibliothek
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    LVR-Amt für Denkmalpflege im Rheinland, Bibliothek
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    Location:
    UB Weimar
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    Source: Staatsbibliothek zu Berlin
    Language: German
    Media type: Book
    Format: Online
    Other identifier:
    Series: BBSR-Analysen kompakt ; 2022, 14
    Subjects: Wohneigentum; Wohnimmobilien; Bauland; Deutschland
    Scope: 1 Online-Ressource (20 Seiten), Illustrationen, Diagramme
  13. Mecanismos para promover el acceso de las mujeres al financiamiento para vivienda en El Salvado
    Author: Álvarez Rodríguez, Aída Mercedes
    Published: [2022]
    Publisher:  Departamento de Investigación Económica y Financiera, Banco Central de Reserva de El Salvador, San Salvador, El Salvador, C.A.

    Access:
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    Keine Rechte
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    Source: Union catalogues
    Language: Spanish
    Media type: Book
    Format: Online
    Series: Documento de trabajo / Banco Central de Reserva ; 2023, 03
    Subjects: Frauen; Wohneigentum; Immobilienfinanzierung; Finanzielle Inklusion; El Salvador
    Scope: 1 Online-Ressource (circa 27 Seiten), Illustrationen
  14. Wohneigentumsbildung und Wohnflächenverbrauch
    Bestandsaufnahme und zukünftige Entwicklung
    Author: Ammann, Iris; Müther, Anna Maria
    Published: 2022
    Publisher:  Bundesinstitut für Bau-, Stadt- und Raumforschung (BBSR) im Bundesamt für Bauwesen und Raumordnung (BBR), Bonn

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    Source: Union catalogues
    Language: German
    Media type: Ebook
    Format: Online
    ISBN: 9783986550684
    Other identifier:
    Series: BBSR-Analysen kompakt ; 2022, 14
    Subjects: Wohneigentum; Haushalt; Wohnungsmarkt; Einfamilienhaus; Wohnen; Selbstgenutztes Wohneigentum; Wohneigentum; Wohnimmobilien; Bauland
    Other subjects: (stw)Wohneigentum; (stw)Wohnimmobilien; (stw)Bauland; (stw)Deutschland; Graue Literatur
    Scope: Online-Ressource
  15. Wohneigentumsbildung und Wohnflächenverbrauch
    Bestandsaufnahme und zukünftige Entwicklung
    Author: Ammann, Iris; Müther, Anna Maria
    Published: 2022
    Publisher:  Bundesinstitut für Bau-, Stadt- und Raumforschung (BBSR) im Bundesamt für Bauwesen und Raumordnung (BBR), Bonn

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Unter den Linden
    Inter-library loan:
    Unlimited inter-library loan, copies and loan

    Location:
    Verbund der Öffentlichen Bibliotheken Berlins - VÖBB
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    Unlimited inter-library loan, copies and loan
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    Source: Staatsbibliothek zu Berlin
    Language: German
    Media type: Book
    Format: Online
    Other identifier:
    Series: BBSR-Analysen kompakt ; 2022, 14
    Subjects: Wohneigentum; Wohnimmobilien; Bauland; Deutschland
    Scope: 1 Online-Ressource (20 Seiten), Illustrationen, Diagramme