Alfalah, Abdullah; Eamonn D’arcy; Heinig, Steffen; Stevenson, Simon. (2022). Modelling Housing Market Fundamentals And The Response To Economic And Political Events: Empirical Evidence From Kuwait. International Journal Of Housing Markets And Analysis, 15(4), 736 – 761.
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Abstract
Purpose > The purpose of this paper is to examine the sensitivity of the Kuwait housing market to major local and regional geo-political and economic events. Design/methodology/approach > This paper examines the market dynamics of the housing market in Kuwait. Kuwait provides an interesting market to consider owing to its position as a major oil producer, its sensitivity to geo-political events and its unusual demographic characteristics. Findings > The error-correction model highlights that market is relatively volatile, with evidence of mean-reverting behaviour. Only when the data is smoothed are their more consistent findings with respect to underlying fundamentals. This paper also examines the response of the market to seven regional and local events. Of particular interest is that the one event that results in a consistent significant response is domestic legislation directly concerned with housing. This has a far greater impact than local or regional geo-political events. Originality/value > Very few papers have considered how economic and political shocks directly impact housing markets using an event study approach. Given its geographic location and also its economic dependence on oil, Kuwait is an interesting market to consider.
Keywords
Politics; Regional Development; Population; Legislation; Housing; Sensitivity; Error Correction; Housing Prices; Impact Analysis; Emerging Markets; Economic Models; Gross Domestic Product--gdp; Reits; Economic Growth; Petroleum Production; Geographical Locations; Middle East; United States--us; Kuwait
El-Anwar, Omar; El-Rayes, Khaled; Elnashai, Amr. (2010). Maximizing Temporary Housing Safety after Natural Disasters. Journal Of Infrastructure Systems, 16(2), 138 – 148.
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Abstract
In the aftermath of large-scale natural disasters, emergency management organizations are expected to provide safe temporary housing for a large number of displaced families and to ensure that these housing arrangements are not located in hazardous areas. Potential postdisaster hazards can take many forms such as earthquake aftershocks, landslides, postearthquake soil liquefaction, flooding, hazardous material releases, etc. This paper presents the development of a multiobjective optimization methodology to support decision-makers in emergency management organizations in optimizing postdisaster temporary housing arrangements. The developed methodology incorporates (1) a safety model to measure and quantify temporary housing safety in the presence of multiple potential postdisaster hazards; (2) a cost model to minimize total public expenditures on temporary housing; and (3) a multiobjective optimization model to simultaneously maximize temporary housing safety and minimize public expenditures on temporary housing. An application to a large region is presented to illustrate the use of the models and demonstrate their capabilities in optimizing postdisaster temporary housing arrangements.
Keywords
Earthquake; Landslides; Optimization; Temporary Housing; Postdisaster Hazards; Housing Safety; Postdisaster Recovery
Hong, Jinhyun; Shen, Qing. (2013). Residential Density and Transportation Emissions: Examining the Connection by Addressing Spatial Autocorrelation and Self-Selection. Transportation Research Part D-transport And Environment, 22, 75 – 79.
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Abstract
This paper examines the effect of residential density on CO2 equivalent from automobile using more specific emission factors based on vehicle and trip characteristics, and by addressing problems of spatial autocorrelation and self-selection. Drawing on the 2006 Puget Sound Regional Council Household Activity Survey data, the 2005 parcel and building database, the 2000 US Census data, and emission factors estimated using the Motor Vehicle Emission Simulator, we analyze the influence of residential density on road-based transportation emissions. In addition, a Bayesian multilevel model with spatial random effects and instrumental variables is employed to control for spatial autocorrelation and self-selection. The results indicate that the effect of residential density on transportation emissions is influenced by spatial correlation and self-selection. Our results still show, however, that increasing residential density leads to a significant reduction in transportation emissions. (C) 2013 Elsevier Ltd. All rights reserved.
Keywords
Urban Form; Travel; Transportation Emissions; Residential Density; Confounding By Location; Self-selection
Acolin, Arthur. (2019). Housing Trajectories of Immigrants and Their Children in France: Between Integration and Stratification. Urban Studies (sage Publications, Ltd.), 56(10), 2021 – 2039.
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Abstract
Immigrants have been found to exhibit different housing tenure patterns from the rest of the population in a number of contexts. This article tests whether observed differences in tenure in France can be explained by differences in socio-demographic characteristics or whether unexplained differences might result from housing market mechanisms that affect immigrants differentially from the rest of the population, and extends this to the second generation. The article relies on data from TeO, a survey of 21,761 persons designed to oversample and identify immigrants and their children, providing information about the outcomes of children of immigrants that is otherwise lacking in French statistics. The results indicate that while immigrants are significantly less likely to be homeowners, even after controlling for compositional difference, the gap in homeownership between the second generation and the rest of the population is smaller and not statistically significant. This suggests a progressive integration in the housing market over time and over generations rather than overall stratified housing trajectories. Differences in terms of the share of social housing residents, the level of residential crowding, and housing and neighbourhood characteristics also decline across generations. However, children of immigrants from some non-European origins are experiencing higher levels of stratification than other groups, with continued significant differences in tenure.
Keywords
Immigrants; Housing; Home Ownership; Children Of Immigrants; Housing Market; Social Stratification; France; Homeownership; Housing Trajectories; Tenure; Segmented Assimilation; Location Choices; Wealth; 2nd-generation; Discrimination; Segregation; Inequality; Quality; Markets; Demographics; Homeowners; Neighborhoods; Crowding; Statistical Analysis; Residential Patterns; Children; Trajectories; Residents; Residential Areas; Integration; Statistics; European Cultural Groups; Sociodemographics; Stratification; Demographic Aspects; Second Generation; Property; Public Housing; Noncitizens
Hess, Chris; Colburn, Gregg; Crowder, Kyle; Allen, Ryan. (2020). Racial Disparity in Exposure to Housing Cost Burden in the United States: 1980-2017. Housing Studies.
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Abstract
This article uses the Panel Study of Income Dynamics to analyse Black-White differences in housing cost burden exposure among renter households in the USA from 1980 to 2017, expanding understanding of this phenomenon in two respects. Specifically, we document how much this racial disparity changed among renters over almost four decades and identify how much factors associated with income or housing costs explain Black-White inequality in exposure to housing cost burden. For White households, the net contribution of household, neighbourhood and metropolitan covariates accounts for much of the change in the probability of housing cost burden over time. For Black households, however, the probability of experiencing housing cost burden continued to rise throughout the period of this study, even after controlling for household, neighbourhood and metropolitan covariates. This suggests that unobserved variables like racial discrimination, social networks or employment quality might explain the increasing disparity in cost burden among for Black and White households in the USA.
Keywords
Cost Burden; Housing Cost; Racial Inequality; Income Inequality; Rent Burden; Affordability; Neighborhoods; Segregation; Dynamics; Hardship; Prices; Market; Poor
El-Anwar, Omar; El-Rayes, Khaled; Elnashai, Amr. (2010). Minimization of Socioeconomic Disruption for Displaced Populations Following Disasters. Disasters, 34(3), 865 – 883.
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Abstract
In the aftermath of catastrophic natural disasters such as hurricanes, tsunamis and earthquakes, emergency management agencies come under intense pressure to provide temporary housing to address the large-scale displacement of the vulnerable population. Temporary housing is essential to enable displaced families to reestablish their normal daily activities until permanent housing solutions can be provided. Temporary housing decisions, however, have often been criticized for their failure to fulfil the socioeconomic needs of the displaced families within acceptable budgets. This paper presents the development of (1) socioeconomic disruption metrics that are capable of quantifying the socioeconomic impacts of temporary housing decisions on displaced populations; and (2) a robust multi-objective optimization model for temporary housing that is capable of simultaneously minimizing socioeconomic disruptions and public expenditures in an effective and efficient manner. A large-scale application example is optimized to illustrate the use of the model and demonstrate its capabilities ingenerating optimal plans for realistic temporary housing problems.
Keywords
Natural Disasters; Hurricanes; Disaster Relief; Temporary Housing; Tsunamis; Multi-objective Optimization; Post-disaster Recovery; Social Welfare; Socioeconomic Disruption
Bitter, Christopher. (2014). Subdivision Vintage and Housing Prices: Do Home Buyers Value Traditional Development? Urban Studies, 51(5), 1038 – 1056.
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Abstract
New Urbanism and traditional neighbourhood development (TND) have been championed as solutions to the problems associated with post-war suburban sprawl. However, they have yet to capture a substantial share of the US housing market. The market context for TND is not well understood as the paucity of TND makes it difficult to study directly. This paper takes a novel approach by focusing on the market for 'traditional' development itself, defined as subdivisions recorded prior to World War II, in the sprawling Tucson, Arizona, MSA. The results of the hedonic analysis demonstrate that home buyers value the features embodied in traditional development, as homes in subdivisions platted before 1940 command premiums over those in their modern counterparts, even after carefully controlling for locational and structural characteristics. Moreover, the analysis finds that the premiums have increased through time, which suggests growing demand for traditionally designed subdivisions.
Keywords
Land-use; Neighborhood; Urbanism; Transportation; Preferences; Choice; Time
Acolin, Arthur; Goodman, Laurie; Wachter, Susan M. (2019). Accessing Homeownership with Credit Constraints. Housing Policy Debate, 29(1), 108 – 125.
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Abstract
The tightening of mortgage credit in the aftermath of the global financial crisis has been identified as a factor in the decline of homeownership in the United States to 50-year lows. In this article, we review findings about the role of borrowing constraints and tightened credit in lowering access to homeownership. We also discuss how institutional changes could hinder or support this access going forward.
Keywords
Borrowing Constraints; Home Ownership; Mortgage; Model; Race; Homeownership; Credit Access; International Finance; Economic Crisis; Property; Aftermath; Access; Credit; Access To Credit; Economic Models; United States--us
Kim, Jinyhup; Bae, Chang-Hee Christine. (2020). Do Home Buyers Value the New Urbanist Neighborhood? The Case of Issaquah Highlands, WA. Journal Of Urbanism, 13(3), 303 – 324.
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Abstract
This study compares Issaquah Highlands’ home prices with those of traditional suburban single-family homes in the city of Issaquah. Issaquah Highlands is a community that was developed using New Urbanism principles. The null hypothesis is that the sale prices of houses in Issaquah Highlands are not different from the conventional suburban neighborhood in the city of Issaquah. The principal database consists of US Census Washington State Geospatial Data Archive, and the King County Tax Assessments. The final dataset contains 1,780 single family homes over the seven-year period from 2012 to 2018 based on sale records throughout the city of Issaquah. This study uses the hedonic pricing technique to assess the impact of New Urbanism on the value of single-family residences. The findings suggest that people are willing to pay a $92,700–96,800 premium (approximately 7.1–12.0 percent of the sales prices) for houses in Issaquah Highlands.
Keywords
New Urbanism; Home Prices; Real Property; Sustainable Development; Spatial Analysis (statistics); Hedonic Pricing Model; Property Value; Smart Growth; Spatial Autocorrelation; Neighborhoods; Databases; Taxation; Spatial Data; Suburban Areas; Census; Prices; Housing Prices; Urbanism; Houses; Willingness To Pay; Residential Areas; Null Hypothesis; Cities; Buyers; Hedonism; Sales; Highlands; Tax Assessments
El-Anwar, Omar; El-Rayes, Khaled; Elnashai, Amr S. (2010). Maximizing the Sustainability of Integrated Housing Recovery Efforts. Journal Of Construction Engineering And Management, 136(7), 794 – 802.
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Abstract
The large-scale and catastrophic impacts of Hurricanes Katrina and Rita in 2005 challenged the efficacy of traditional postdisaster temporary housing methods. To address these challenges, the U.S. Congress appropriated $400 million to the Department of Homeland Security to support alternative housing pilot programs, which encourage innovative housing solutions that will facilitate sustainable and permanent affordable housing in addition to serving as temporary housing. Facilitating and maximizing the sustainability of postdisaster alternative housing is an important objective that has significant social, economic, and environmental impacts. This paper presents the development of a novel optimization model that is capable of (1) evaluating the sustainability of integrated housing recovery efforts under the alternative housing pilot program and (2) identifying the housing projects that maximize sustainability. An application example is analyzed to demonstrate the use of the developed model and its unique capabilities in maximizing the sustainability of integrated housing recovery efforts after natural disasters.
Keywords
Northridge Earthquake; United-states; Disasters; Optimization; Postdisaster Alternative Housing; Sustainability; Housing Recovery