Filling the Gap: Affordable housing markets in Johannesburg May
... Joburg’s affordability index is 4.3 – it takes just over four times the average income to afford the average house in the city; Tshwane’s has the closest relationship between value and income. These affordability index are lower than the national index, indicating that these metros have relatively b ...
... Joburg’s affordability index is 4.3 – it takes just over four times the average income to afford the average house in the city; Tshwane’s has the closest relationship between value and income. These affordability index are lower than the national index, indicating that these metros have relatively b ...
understanding mortgage market behavior: creating good mortgage
... This study was funded by a Ford Foundation grant to the Joint Center for Housing Studies of Harvard University. Nicolas P. Retsinas, the Joint Center Director and Blue Ribbon Committee Chair, gratefully acknowledges the guidance and support of Brandee McHale and George McCarthy of the Ford Foundatio ...
... This study was funded by a Ford Foundation grant to the Joint Center for Housing Studies of Harvard University. Nicolas P. Retsinas, the Joint Center Director and Blue Ribbon Committee Chair, gratefully acknowledges the guidance and support of Brandee McHale and George McCarthy of the Ford Foundatio ...
Shipping Rates
... allowing a normalization of financial markets by mid-year 2009. The economy emerges from recession in the second half of 2009. Inflation turns negative early in 2009, but rises by the end of the year. The stock market, as measured by the S&P 500, posts a return in the mid-teens, as a volatile first ...
... allowing a normalization of financial markets by mid-year 2009. The economy emerges from recession in the second half of 2009. Inflation turns negative early in 2009, but rises by the end of the year. The stock market, as measured by the S&P 500, posts a return in the mid-teens, as a volatile first ...
Homeownership 2.0 - Chicago Unbound
... many of the household's eggs in one basket not only runs counter to basic principles of portfolio diversification, but also motivates potentially costly basket-guarding behaviors.1 2 Moreover, households that lack the financial wherewithal or risk tolerance to take on such a large investment simply ...
... many of the household's eggs in one basket not only runs counter to basic principles of portfolio diversification, but also motivates potentially costly basket-guarding behaviors.1 2 Moreover, households that lack the financial wherewithal or risk tolerance to take on such a large investment simply ...
Unique Durable Assets - University of Virginia Darden School of
... Third, there is an empirical literature that examines endogenous sale decisions and reserve prices in the markets for illiquid assets, together with their effects on the estimation of returns. Goetzmann and Peng (2006) recognize that reserve prices in housing sales must be a function of both private ...
... Third, there is an empirical literature that examines endogenous sale decisions and reserve prices in the markets for illiquid assets, together with their effects on the estimation of returns. Goetzmann and Peng (2006) recognize that reserve prices in housing sales must be a function of both private ...
House Prices, Expectations, and Time
... Shiller (2000) developed a questionnaire to study investor expectations about future stock market returns in Japan and the U.S. during the 1990s. From the data, he constructed an index of “bubble expectations” which reflected the belief that stock prices would continue to rise despite being high rel ...
... Shiller (2000) developed a questionnaire to study investor expectations about future stock market returns in Japan and the U.S. during the 1990s. From the data, he constructed an index of “bubble expectations” which reflected the belief that stock prices would continue to rise despite being high rel ...
LONGzTERM INVESTORS?
... rising inflation erodes the purchasing power of coupons and the capital. Inflation-linked bonds have become increasingly popular as they pay coupons linked to inflation. • Property: Theoretically, rental fees should rise in line with inflation and household and business incomes. Over time, house pr ...
... rising inflation erodes the purchasing power of coupons and the capital. Inflation-linked bonds have become increasingly popular as they pay coupons linked to inflation. • Property: Theoretically, rental fees should rise in line with inflation and household and business incomes. Over time, house pr ...
Hedge Fund Fee Structure Study
... range of qualitative characteristics. Our commercial dataset, which includes both currently active and liquidated funds, covers over 23,000 products. The following study investigates historical trends in fee structures based on product inception. ...
... range of qualitative characteristics. Our commercial dataset, which includes both currently active and liquidated funds, covers over 23,000 products. The following study investigates historical trends in fee structures based on product inception. ...
PDP-Working Paper
... I: Mortgage Funding ......................................................................................................... 21 References........................................................................................................................ 18 ...
... I: Mortgage Funding ......................................................................................................... 21 References........................................................................................................................ 18 ...
PDF
... following “generally accepted accounting principles”. Henry Kaufman, the “bond wizard” of Wall Street has been warning that little or no regulation existed for many of the newer “creative financing arrangements”. He argued that democratic governments traditionally establish regulations as a reaction ...
... following “generally accepted accounting principles”. Henry Kaufman, the “bond wizard” of Wall Street has been warning that little or no regulation existed for many of the newer “creative financing arrangements”. He argued that democratic governments traditionally establish regulations as a reaction ...
Housing and Portfolio Choice: A Life Cycle Simulation Model
... that households can acquire either by renting from the owner or by buying their own housing stock from which housing services can then be derived. At the same time, households may follow an investment incentive in that they consider real estate as an attractive long-term investment that is not subje ...
... that households can acquire either by renting from the owner or by buying their own housing stock from which housing services can then be derived. At the same time, households may follow an investment incentive in that they consider real estate as an attractive long-term investment that is not subje ...
Land Leverage and House Prices
... compared with 35% in 1975. To construct their land price indexes, a benchmark market value of housing is calculated for 2000 based on the decennial census and other data. Various data sources, including Office of Federal Housing Enterprise Oversight (now the Federal Housing Finance Agency) price ind ...
... compared with 35% in 1975. To construct their land price indexes, a benchmark market value of housing is calculated for 2000 based on the decennial census and other data. Various data sources, including Office of Federal Housing Enterprise Oversight (now the Federal Housing Finance Agency) price ind ...
Accounting for Changes in the Homeownership Rate
... a general equilibrium overlapping generations model with housing and mortgage markets. The model generates participation rates, it ; that result from household’s optimal behavior. Some of the features of the model are: homeownership is part of the household’s portfolio decision; life-cycle e¤ects pl ...
... a general equilibrium overlapping generations model with housing and mortgage markets. The model generates participation rates, it ; that result from household’s optimal behavior. Some of the features of the model are: homeownership is part of the household’s portfolio decision; life-cycle e¤ects pl ...
An Experimental Examination of the House Money Effect
... The average bid in the first trading period in the low endowment sessions is $19.70. For the high endowment sessions, the average initial bid is $24.95. The difference between the two average bids is $5.25 and is significantly different from zero at p = 0.0001. In periods 2 and 3 bids are again sign ...
... The average bid in the first trading period in the low endowment sessions is $19.70. For the high endowment sessions, the average initial bid is $24.95. The difference between the two average bids is $5.25 and is significantly different from zero at p = 0.0001. In periods 2 and 3 bids are again sign ...
1Q16 Market Intelligence Book
... (Each share class is counted as a fraction of one fund within this scale and is rated separately, which may cause slight variations in the distribution percentages.) The overall Morningstar rating for a fund is derived from a weighted average of the performance associated with its 3-, 5-, and 10-yea ...
... (Each share class is counted as a fraction of one fund within this scale and is rated separately, which may cause slight variations in the distribution percentages.) The overall Morningstar rating for a fund is derived from a weighted average of the performance associated with its 3-, 5-, and 10-yea ...
Subprime Lending, Suboptimal Bankruptcy: A Proposal to Amend
... in 1978, policymakers were not concerned with the impact of mortgage lending on bankruptcy policy. Quite the opposite: in the environment of the late 1970s, in which home mortgage credit was highly rationed,9 policymakers were concerned primarily with ensuring that the Code did not further discourag ...
... in 1978, policymakers were not concerned with the impact of mortgage lending on bankruptcy policy. Quite the opposite: in the environment of the late 1970s, in which home mortgage credit was highly rationed,9 policymakers were concerned primarily with ensuring that the Code did not further discourag ...
United States housing bubble
The United States housing bubble was an economic bubble affecting many parts of the United States housing market in over half of American states. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2012. On December 30, 2008, the Case-Shiller home price index reported its largest price drop in its history. The credit crisis resulting from the bursting of the housing bubble is—according to general consensus—the primary cause of the 2007–2009 recession in the United States.Increased foreclosure rates in 2006–2007 among U.S. homeowners led to a crisis in August 2008 for the subprime, Alt-A, collateralized debt obligation (CDO), mortgage, credit, hedge fund, and foreign bank markets. In October 2007, the U.S. Secretary of the Treasury called the bursting housing bubble ""the most significant risk to our economy.""Any collapse of the U.S. housing bubble has a direct impact not only on home valuations, but the nation's mortgage markets, home builders, real estate, home supply retail outlets, Wall Street hedge funds held by large institutional investors, and foreign banks, increasing the risk of a nationwide recession. Concerns about the impact of the collapsing housing and credit markets on the larger U.S. economy caused President George W. Bush and the Chairman of the Federal Reserve Ben Bernanke to announce a limited bailout of the U.S. housing market for homeowners who were unable to pay their mortgage debts.In 2008 alone, the United States government allocated over $900 billion to special loans and rescues related to the U.S. housing bubble, with over half going to Fannie Mae and Freddie Mac (both of which are government-sponsored enterprises) as well as the Federal Housing Administration. On December 24, 2009, the Treasury Department made an unprecedented announcement that it would be providing Fannie Mae and Freddie Mac unlimited financial support for the next three years despite acknowledging losses in excess of $400 billion so far. The Treasury has been criticized for encroaching on spending powers that are enumerated for Congress alone by the United States Constitution, and for violating limits imposed by the Housing and Economic Recovery Act of 2008.