Acolin, Arthur; Vitiello, Domenic. (2018). Who Owns Chinatown: Neighbourhood Preservation and Change in Boston and Philadelphia. Urban Studies, 55(8), 1690 – 1710.
View Publication
Abstract
The survival of Chinatowns and other ethnic enclaves in cities is largely determined by who owns property. Ethnic enclaves such as Chinatowns have traditionally played important economic, social and cultural functions as places for recent immigrants to live and work, though Chinatowns have long faced redevelopment pressures. In North America, as Chinese immigrants and their descendants settle in the suburbs, and as historic Chinatowns’ locations close to revitalising downtowns attract increasing investment, the future of these historic enclaves is shaped by various, often intense and divergent, forces. This article describes changes in the patterns of property ownership in Boston and Philadelphia’s downtown Chinatowns over the last decade (2003–2013) and relates them to changes and continuities in these neighbourhoods’ population, commercial activities and building stock. The trends we observe simultaneously reinforce and complicate debates about gentrification and longstanding efforts to preserve these Chinatowns as ethnic Chinese residential, commercial, and cultural centres.]
Keywords
Chinatown, Ethnic Enclave, Neighbourhood Change, Ownership
Bourassa, Steven C.; Hoesli, Martin. (2022). Hedonic, Residual, and Matching Methods for Residential Land Valuation. Journal Of Housing Economics, 58.
View Publication
Abstract
• Our first method involves a hedonic model estimated for sales of vacant lots. • Another method depreciates improvements, obtaining land value as a residual. • Our third approach matches the sales of vacant and subsequently developed lots. • This allows us to estimate a hedonic model of land leverage (the ratio of land to total property value) for improved properties. • We conclude that the third approach is the most promising of the three methods. Accurate estimates of land values on a property-by-property basis are an important requirement for the effective implementation of land-based property taxes. We compare hedonic, residual, and matching techniques for mass appraisal of residential land values, using data from Maricopa County, Arizona. The first method involves a hedonic valuation model estimated for transactions of vacant lots. The second approach subtracts the depreciated cost of improvements from the value of improved properties to obtain land value as a residual. The third approach matches the sales of vacant lots with subsequent sales of the same properties once they have been developed. For each pair, we use a land price index to inflate the land price to the time of the improved property transaction and then calculate land leverage (the ratio of land to total property value). A hedonic model is estimated and used to predict land leverage for all improved properties. We conclude that the matching approach is the most promising of the methods considered. [ABSTRACT FROM AUTHOR]; Copyright of Journal of Housing Economics is the property of Academic Press Inc. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
Keywords
Hedonic Method; Land Leverage; Land Valuation; Matching Approach; Residual Approach
Acolin, Arthur;hoek-smit, Marja;green, Richard K. (2022). Measuring the Housing Sector’s Contribution to GDP in Emerging Market Countries. International Journal Of Housing Markets And Analysis, 15(5), 977-994.
View Publication
Abstract
Purpose > This paper aims to document the economic importance of the housing sector, as measured by its contribution to gross domestic product (GDP), which is not fully recognized. In response to the joint economic and health crises caused by the COVID-19 pandemic, there is an opportunity for emerging market countries to develop and implement inclusive housing strategies that stimulate the economy and improve community health outcomes. However, so far housing does not feature prominently in the recovery plans of many emerging market countries. Design/methodology/approach > This paper uses national account data and informal housing estimates for 11 emerging market economies to estimate the contribution of housing investments and housing services to the GDP of these countries. Findings > This paper finds that the combined contribution of housing investments and housing services represents between 6.9% and 18.5% of GDP, averaging 13.1% in the countries with information about both. This puts the housing sector roughly on par with other key sectors such as manufacturing. In addition, if the informal housing sector is undercounted in the official national account figures used in this analysis by 50% or 100%, for example, then the true averages of housing investments and housing services’ contribution to GDP would increase to 14.3% or 16.1% of GDP, respectively. Research limitations/implications > Further efforts to improve data collection about housing investments and consumption, particularly imputed rent for owner occupiers and informal activity require national government to conduct regular household and housing surveys. Researcher can help make these surveys more robust and leverage new data sources such as scraped housing price and rent data to complement traditional surveys. Better data are needed in order to capture housing contribution to the economy. Practical implications > The size of the housing sector and its impact in terms of employment and community resilience indicate the potential of inclusive housing investments to both serve short-term economic stimulus and increase long-term community resilience. Originality/value > The role of housing in the economy is often limited to housing investment, despite the importance of housing services and well-documented methodologies to include them. This analysis highlights the importance of housing to the economy of emerging market countries (in addition to all the non-GDP related impact of housing on welfare) and indicate data limitation that need to be addressed to further strengthen the case for focusing on housing as part of economic recovery plans.
Keywords
Pandemics; Economic Importance; Investments; Housing; Sanitation; Recovery; International Organizations; Covid-19; Economic Growth; Data Collection; Economic Indicators; Economics; Housing Conditions; Economic Policy; Economic Conditions; Market Economies; Resilience; Low Income Groups; Economic Activity; Consumption; Emerging Markets; Earthquakes; Surveys; Gross Domestic Product--gdp; Coronaviruses; Affordable Housing; Economic Development; Informal Economy; Households; Recovery Plans; Disease Transmission; Africa; South Africa; India
Ramiller, Alex; Acolin, Arthur; Walter, Rebecca J.; Wang, Ruoniu. (2022). Moving to Shared Equity: Locational Outcomes for Households in Shared Equity Homeownership Programs. Housing Studies, 44586.
View Publication
Abstract
Abstract The impact of U.S. housing policy on household locational outcomes has primarily been studied in the context of rental housing assistance programs, but the impact of alternative homeownership models is less fully explored. In this study, we assess residential trajectories for households that have participated in shared-equity homeownership (SEH) programs such as Community Land Trusts and Limited Equity Housing Cooperatives. We examine changes in neighborhood characteristics that occur when households enter and exit SEH units, and compare those outcomes with similar households that entered traditional homeownership or continued to rent. We find that while entering SEH is associated with decreases in neighborhood opportunity measures, exiting SEH is associated with improvements in key measures including lower concentrations of poverty. We conclude that while entering SEH may entail moving to lower-opportunity neighborhoods, participation in SEH programs increases the long-term economic and socio-spatial mobility of participating households by enabling them to access a broader array of neighborhood contexts in their subsequent move. [ABSTRACT FROM AUTHOR]; Copyright of Housing Studies is the property of Routledge and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
Keywords
Community Land Trusts; Geographies Of Opportunity; Locational Outcomes; Residential Mobility; Shared-equity Homeownership
Ruoniu (Vince) Wang is an Assistant Professor in the Runstad Department of Real Estate in the College of Built Environments at the University of Washington. He studies spatial justice and inclusive communities, including their impacts reflected in the built environment, human behaviors, and policy interventions. Vince joined the University of Washington after serving six years as the research manager and director in a national non-profit organization Grounded Solutions Network. He has designed and conducted a U.S. Census of inclusionary housing policies, a U.S. census of community land trusts, and a national performance evaluation of shared equity homeownership programs. His research expands to policy evaluation for the two largest federal assisted housing rental programs in the U.S.: the Low-Income Housing Tax Credit program and the Housing Choice Voucher program. Vince grounds his research with applied tools to democratize data for low-income communities.
Armbruster, Ginger; Endicott-Popousky, Barbara; Whittington, Jan. (2012). Are We Prepared for the Economic Risk Resulting from Telecom Hotel Disruptions? International Journal Of Critical Infrastructure Protection, 5(2), 55 – 65.
View Publication
Abstract
Large and small businesses in Seattle, Washington, as in most urban centers across the United States, increasingly rely on telecom hotels and related telecommunications centers to conduct business operations. What would be the economic impact to these businesses if a natural or man-made disaster were to make this infrastructure unavailable for a significant period of time? How long would it take for the owners of small businesses, which provide the foundation for economic recovery, to give up and move away? Are metropolitan regions prepared for this risk? This paper draws on publicly available reports of telecom hotel investments to examine the economic risks that such telecommunications hubs pose at the regional scale. New York City and Seattle are two urban areas that depend on key investments in telecom hotels. In the Pacific Northwest, these assets are located downtown, primarily in the center of the urban real estate market of Seattle. Although the terrorist attacks of September 11, 2001 were directed at the World Trade Center in Lower Manhattan, collateral damage to a major telecommunications hub brought outages during and after the attacks that highlighted the serious risk posed to small- and mid-sized businesses from disruptions in telecommunications service. The Seattle case study illustrates the potential to learn from the experience in Lower Manhattan and apply this knowledge across the United States. Regional economic analysis of the benefits of and the means to protect small- and mid-sized businesses can provide the basis for strategic investments that minimize economic loss and reduce the recovery time. (C) 2012 Elsevier B.V. All rights reserved.
Keywords
Telecommunications Hubs; Telecom Hotels; Business Continuity; Risk
Choi, Kunhee; Lee, Hyun Woo; Bae, Junseo; Bilbo, David. (2016). Time-Cost Performance Effect of Change Orders from Accelerated Contract Provisions. Journal Of Construction Engineering And Management, 142(3).
View Publication
Abstract
Accelerated contract provisions (ACPs) such as cost-plus-time (A+B) and incentives/disincentives (I/D) are increasingly common, yet very little is known about their pure time-cost performance effects on change orders. To fill this large knowledge gap, a two-stage research methodology drawing on 1,372 highway improvement projects completed in California was adopted for this study. The Stage I study investigated the marginal change-order impacts of two ACPs, pure A+B and I/D combined with A+B. How ACP change orders affect projects' time-cost performance was numerically modeled and successfully validated over the Stage II study. The results clearly showed that both ACPs led to more schedule-change and cost-change orders than conventionally contracted projects, whereas I/D combined with A+B performed significantly better than pure A+B in terms of the magnitude of schedule-change orders. This conveys an important recommendation to state transportation agencies (STAs) that A+B be used with an I/D provision. The results and numerical models of this study would help STAs better assess and justify the impact of change orders on the duration and cost of projects, enabling them to more effectively use contingency amounts. Use of the models can also benefit contractors requesting a change order because the models can provide them with advanced knowledge of the probable time-cost growth rates specifically for the pursued ACP. (C) 2015 American Society of Civil Engineers.
Keywords
Construction Industry; Contracts; Costing; Incentive Schemes; Numerical Analysis; Order Processing; Performance Evaluation; Roads; Scheduling; Time Management; Transportation; Projects Time-cost Performance Effect; Cost-change Order; Accelerated Contract Provision; Knowledge Gap; California; Acp; Schedule-change Order; State Transportation Agency; Numerical Model; Sta; Incentive; Highway Improvement Project; Labor Productivity; Construction; Impact; Model; Projects; Change Order; Highway Rehabilitation; Decision Modeling; Regression; Validation; Contracting
Lin, Xiongbin; Maclachlan, Ian; Ren, Ting; Sun, Feiyang. (2019). Quantifying Economic Effects of Transportation Investment Considering Spatiotemporal Heterogeneity in China: A Spatial Panel Data Model Perspective. The Annals Of Regional Science, 63(3), 437 – 459.
View Publication
Abstract
Transportation investment plays a significant role in promoting economic development. However, in what scenario and to what extent transportation investment can stimulate economic growth still remains debatable. For developing countries undergoing rapid urbanization, answering these questions is necessary for evaluating proposals and determining investment plans, especially considering the heterogeneity of spatiotemporal conditions. Current literature lacks systematical research to consider the impacts of panel data and spatial correlation issue in examining the economic effects of transportation investment. To fill this gap, this study collects provincial panel data in China from 1997 to 2015 to evaluate multi-level temporal and spatial effects of transportation investment on economic growth by using spatial panel data analysis. Results show that transportation investment leads to significant and positive effects on growth and spatial concentration of economic activities, but these results vary significantly depending on the temporal and spatial characteristics of each province. The economic impacts of transportation investment are quite positive even considering the time lag effects. This study suggests that both central and local governments should carefully evaluate the multifaceted economic effects of transportation investment, such as a balanced transportation investment and economic development between growing and lagging regions, and considering the spatiotemporal heterogeneity of the economic environment.
Keywords
High-speed Rail; Infrastructure Investment; Causal Relationship; Empirical-analysis; Growth; Impact; Productivity; Efficiency; Spillover; Agglomeration; C33; R40; R58; Spatial Analysis; Time Lag; Urbanization; Transportation; Heterogeneity; Economic Growth; Economic Models; Economic Impact; Data Analysis; Spatial Data; Panel Data; Economic Development; Developing Countries--ldcs; Investments; Economic Analysis; Investment; Local Government; China
Acolin, Arthur; Ramiller, Alex; Walter, Rebecca J; Thompson, Samantha; Wang, Ruoniu. (2021). Transitioning to Homeownership: Asset Building for Low- and Moderate-Income Households. Housing Policy Debate, 31(6), 1032 – 1049.
View Publication
Abstract
This article assesses the asset building of households that take part in shared-equity homeownership (SEH) models. The contribution of this article is a comparison of outcomes for households participating in shared-equity programs with other low- and moderate-income households who rent or own properties without restrictions on appreciation. We matched participants in SEH programs to households with similar characteristics from the Panel Study of Income Dynamics (PSID) over the 1997-2017 period. The findings indicate that in real terms, median SEH homeowners accumulated about $1,700 in housing wealth annually or around $10,000 during their holding period. This amount is lower than the $2,100 median annual gain in home equity experienced by similar PSID owners but statistically and economically significantly larger than the $16 in annual gain experienced by similar PSID renters. The findings provide evidence that households participating in SEH programs experienced positive, but modest, wealth gains that were slightly lower than those of homeowners in unrestricted units but substantially higher than those of renters.
Keywords
Appreciation; Households; Property; Wealth; Income; Housing; Dynamic Tests; Home Ownership; Assets; Tenants; Equity; Owners
Rehm, Colin D.; Moudon, Anne V.; Hurvitz, Philip M.; Drewnowski, Adam. (2012). Residential Property Values are Associated with Obesity among Women in King County, WA, USA. Social Science & Medicine, 75(3), 491 – 495.
View Publication
Abstract
Studies of social determinants of weight and health in the US have typically relied on self-reported education and incomes as the two primary measures of socioeconomic status (SES). The assessed value of one's home, an important component of wealth, may be a better measure of the underlying SES construct and a better predictor of obesity. The Seattle Obesity Study (SOS), conducted in 2008-9, was a cross-sectional random digit dial telephone survey of 2001 adults in King County, Washington State, US. Participants' addresses were geocoded and residential property values for each tax parcel were obtained from the county tax assessor's database. Prevalence ratios of obesity by property values, education, and household income were estimated separately for women and men, after adjusting for age, race/ethnicity, household size, employment status and home ownership. Among women, the inverse association between property values and obesity was very strong and independent of other SES factors. Women in the bottom quartile of property values were 3.4 times more likely to be obese than women in the top quartile. No association between property values and obesity was observed for men. The present data strengthen the evidence for a social gradient in obesity among women. Property values may represent a novel and objective measure of SES at the individual level in the US. Measures based on tax assessment data will provide a valuable resource for future health studies. (C) 2012 Elsevier Ltd. All rights reserved.
Keywords
Communities; Employment; Income; Obesity; Poisson Distribution; Probability Theory; Research Funding; Self-evaluation; Sex Distribution; Social Classes; Statistics; Surveys; Data Analysis; Educational Attainment; Cross-sectional Method; Data Analysis Software; Descriptive Statistics; Washington (state); Health Status Disparities; Health Surveys; Social Class; Socioeconomic Factors; Usa; Women; Body-mass Index; Socioeconomic-status; Aged Men; Health; Weight; Disparities; Overweight; Disease; Poverty; Height