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functioning of urban real estate markets. As such, it first reviews the fundamental concepts of demand, supply, prices, and price adjustments, then expands on how they apply to real estate, and finally elaborates on their relevance to market analysis.
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- Demand, Supply, and House Price Determination
- The Effect of Planning Controls on The Housing Market
- Other Types of Intervention in The Housing Market
- Housing Market and The Macroeconomy
One of the building blocks of housing economics is the assumption that in the short-run, housing supply is inelastic. Factors such as uncertainty, monopolistic ownership, high transaction costs of property changing hands, and, most importantly, the time new housing takes to be constructed imply that short-run supply is measured in terms of just the...
The responsiveness of housing supply is affected by the availability of developable land, which in turn depends on the land use regulations in place. Studies of the European (including the UK) and US housing markets demonstrate a strong positive correlation between the level of strictness of land use regulations, low house supply elasticities, and ...
Other than planning restrictions, housing markets in most countries feature various degrees of government involvement, which can take several forms, from direct subsidies (housing allowances, public housing) and fiscal interventions (taxation, mortgage incentives) to market regulations such as rent controls or tenure protection legislation (For an ...
Housing constitutes a major sector in national economies and represents the largest share of household assets. As a result, changes in house prices will have an effect on many aspects of national and regional economies and, most importantly, incomes, consumption, and the labor market. There is the argument that one of the most important aspects of ...
Real estate economics refers to the study of the housing sector from an investment perspective, specifically focusing on the relationships between real estate values, investment decisions, and the broader economy.
Definition. Residential real estate refers to properties designed for people to live in, including single-family homes, apartments, condominiums, and townhouses. It plays a crucial role in shaping communities and impacts the economy significantly through housing markets, property values, and homeownership trends.
Aug 3, 2023 · Real estate economics is the study of how real estate supply and demand impact the price, trends, and how an investment will be impacted in the long term. Housing economics is related...
Dec 17, 2012 · Real Estate Economics: A point-to-point handbook introduces the main tools and concepts of real estate (RE) economics. It covers areas such as the relation between RE and the macro-economy, RE finance, investment appraisal, taxation, demand and supply, development, market dynamics and price bubbles, and price estimation.
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Lecture presentation with an introduction to the course and discussion of the space versus asset market, real estate micro economics, and real estate macro economics.
