Journal articles: 'Rent housing'

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Kolotilkin, B. "Housing Rent." Soviet Review 32, no. 5 (September 1991): 61–73. http://dx.doi.org/10.2753/rss1061-1428320561.

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Furth, Salim. "Decomposing Housing Unaffordability." Critical Housing Analysis 8, no. 1 (June 2021): 62–71. http://dx.doi.org/10.13060/23362839.2021.8.1.523.

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A US household is considered ‘rent burdened’ when its rent exceeds 30% of its income. This simple ratio can be decomposed to better understand the sources of unaffordability across space. To demonstrate this new approach, I rewrite the equation for rent burden as a sum of four factors: rent gap, income gap, excess size cost, and demographic baseline, and show that US rental unaffordability is mostly the result of low incomes. Focusing on the New England region, however, I show that high rent is the primary cause of unaffordability in high-cost, high-wage metro areas. This decomposition can help affordability advocates prioritise strategies appropriately across space.

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Flambard, Véronique. "Housing Allowances Alone Cannot Prevent Rent Arrears." Economie et Statistique / Economics and Statistics, no. 507d (July 11, 2019): 53–69. http://dx.doi.org/10.24187/ecostat.2019.507d.1974.

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Indriliūnaitė, Rasa, and Apolonijus Žilys. "Risks Induced by Lithuanian Housing Policy for the Youth Living in the Private Rental Sector." Public Policy And Administration 17, no. 3 (October 29, 2018): 454–69. http://dx.doi.org/10.5755/j01.ppaa.17.3.21958.

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Rapid expansion of welfare state model and persistent processes of housing sector commodification are corroding the stable social security net and transforming the structure of housing sector at the same time. The growing private rent sector becomes a desirable option for those households which struggle to acquire housing in private housing sector. Lithuanian private rent sector is a peculiar case because the rent segment is poorly regulated and the practice of informal rent is widely spread. Even the general official framework of Lithuanian housing policy considers private rent sector an economic activity, but not the residential one – the rent is legally treated as just a contract between the renter and the tenant. The study aims at showcasing the situation of Lithuanian youth (18–35 yr.) who rent housing units privately, and their attitudes towards private rent sector. The analysis presents the differences in socio-demographic features and value orientations among young tenants and home-owners. The article describes several profiles of young tenants: they usually live in more compact housing units and are more likely to be single or cohabitate with a partner and without any children. Important feature of Lithuanian private rent sector is a quite short residential period, and the fact that the majority of young tenants have not declared or registered rented housing unit as their primary place of residency. Young tenants are more anxious about their liability to the renter, but not about their rights as the tenants. More than one quarter of young tenants participate in informal housing rent sector, only about half of young tenants have legal contracts with renters. All these features of the private sector allow concluding about the rent sector’s ambivalence or existence of various levels of residential security for young tenants.DOI: http://dx.doi.org/10.5755/j01.ppaa.17.3.21958

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Liu, Guangping, and Xiayuan Chang. "The Impact of Rising Housing Rent on Residents’ Consumption and Its Underlying Mechanism: Empirical Evidence from China." SAGE Open 11, no. 2 (April 2021): 215824402110157. http://dx.doi.org/10.1177/21582440211015709.

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Based on 465 panel data from 31 provinces, autonomous regions, and municipalities in China from 2001 to 2015 (data come from “China Statistical Yearbook”), static and dynamic panel models were established by Stata16.0 software to analyze the impact of housing rent on household consumption. In order to explore the specific impact of rising housing rents on residents’ consumption, and then adjust housing policies to stimulate consumer demand, this article analyses three research topics: (a) the impact of rising housing rent on the overall consumption level of residents and whether there are regional differences; (b) the internal mechanism underlying the effect of rising housing rent on residents’ consumption; and (c) the different impacts of rising housing rent on different types of residents’ consumption by establishing fixed-effects and random-effects models. The results show that a rise in housing rent causes a wealth effect on residents’ consumption at the national level in all regions. The upgrading of the industrial structure plays a positive role in the relationship between the fluctuation in housing rent and residents’ consumption, that is, the more rational the industrial structure, the stronger the wealth effect of rising housing rent on residents’ consumption. The rise in housing rent positively affects residents’ daily necessities and services consumption; transportation and telecommunication consumption; education, culture, and entertainment consumption; and habitation consumption; while negatively affects food, tobacco, and alcohol consumption; clothing consumption; and other supplies and services consumption. However, the impact on health care consumption is not significant. Accordingly, the government should start by improving the housing rental market and reasonably promote the further development of the housing rental market, thereby further stimulating Chinese consumption level.

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Cui, Yu Ying, Jin Xin Tian, and Zhi Qing Li. "Design of Housing Security Model Based on Family Lifecycle." Advanced Materials Research 472-475 (February 2012): 2111–15. http://dx.doi.org/10.4028/www.scientific.net/amr.472-475.2111.

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In order to understand the demand characteristics of housing security and improve the implementation effect of security policies, the subdivided family lifecycle of low-income family housing need was analyzed by fuzzy clustering with some Harbin samples, and the characteristics of various stages of housing security need, which was meet by four modes, such as “high subsidy +cheap-rent housing”, “rent subsidy”, “home ownership subsidy+ affordable housing”, “low rent subsidy + public rental housing”. The study has positive theoretical significance and practical value on the housing security policy.

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Koning, Ruud H., and Geert Ridder. "Rent assistance and housing demand." Journal of Public Economics 66, no. 1 (October 1997): 1–31. http://dx.doi.org/10.1016/s0047-2727(97)00024-8.

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Stafford, David C., and Robert Albon. "Housing: Anyone for Rent Control?" Economic Affairs 8, no. 5 (June 1988): 40–44. http://dx.doi.org/10.1111/j.1468-0270.1988.tb01592.x.

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Perrie, Victoria, and Walter Block. "Rent Control and Public Housing." Dialogi Polityczne, no. 24 (June 15, 2018): 49. http://dx.doi.org/10.12775/dp.2018.004.

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Albon, Robert P., and David C. Stafford. "Rent Control and Housing Maintenance." Urban Studies 27, no. 2 (April 1990): 233–40. http://dx.doi.org/10.1080/00420989020080191.

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Rondinelli, Concetta, and Giovanni Veronese. "Housing rent dynamics in Italy." Economic Modelling 28, no. 1-2 (January 2011): 540–48. http://dx.doi.org/10.1016/j.econmod.2010.06.018.

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Liu, Xiaoxin, Di Wu, Xiuting Li, and Jichang Dong. "Financing of Low-Rent Housing REITs in China." Journal of Systems Science and Information 1, no. 1 (February 25, 2013): 1–21. http://dx.doi.org/10.1515/jssi-2013-0001.

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AbstractTaking the special features of the Chinese real estate market and financial market into account, this paper explores the application of real estate investment trusts (REITs) in low-rent housing and introduces an agent-based simulation model for low-rent housing REITs in the issuing and trading markets. Overcoming the difficulty of lacking relevant REITs models and data in China, We find that how the rental income and government subsidy, market fixed interest rate, dividend proportion of low-rent housing REITs and market surplus fund influence the financing of low-rent housing REITs.

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WU, DI, PENG GAO, and JICHANG DONG. "IMPACT OF SUBSIDY ON LOW-RENT HOUSING LESSEES' WELFARE IN CHINA." International Journal of Information Technology & Decision Making 11, no. 03 (May 2012): 643–60. http://dx.doi.org/10.1142/s0219622012500150.

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Chinese Low-rent housing subsidy has been increasing year by year. However, it will be a very one-sided view if we only take the increasing number of subsidy into consideration when evaluating the effects of subsidy policy on low-rent housing lessees. Thus we studied on the impact of subsidy increase on low-rent housing lessees' welfare in China, and explored a valid way to evaluate the utility of the subsidy policy. At first, basing on the theory of welfare, we analyze the indifference curve model within consumption budget condition. After that, we applied the Cobb–Douglas utility function to establish a low-rent housing lessees' welfare model. Finally, some suggestions, especially in regard to the use of Information Technology to support subsidy making and protect low-rent housing lessees' welfare, are given to the Ministry of Housing and Urban–Rural Development of the People's Republic of China (MOHURD) and local Municipal Commissions of Housing and Urban–Rural Development (MCOHURD).

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McLaverty, P., and P. A. Kemp. "Housing Benefit and Tenant Coping Strategies in the Private Rental Housing Market." Environment and Planning A: Economy and Space 30, no. 2 (February 1998): 355–66. http://dx.doi.org/10.1068/a300355.

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In this paper we report findings of interviews with housing benefit claimants whose eligible rent for housing benefit was less than the contractual rent ‘agreed’ with their landlord. Linking into debates about the usefulness of the concept of ‘strategy’ in social analysis, we consider whether the claimants interviewed pursued strategies in coping with the shortfalls in their eligible rent for housing benefit. Though claimants often had difficulty in pursuing ‘strategies' successfully, the research shows that most of those interviewed did try to act strategically. They were not simply the passive victims of circumstances beyond their control.

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Zhang, Shiwei, Lin Wang, and Feng Lu. "Exploring Housing Rent by Mixed Geographically Weighted Regression: A Case Study in Nanjing." ISPRS International Journal of Geo-Information 8, no. 10 (September 29, 2019): 431. http://dx.doi.org/10.3390/ijgi8100431.

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In China, the housing rent can clearly reveal the actual utility value of a house due to its low capital premium. However, few studies have examined the spatial variability of housing rent. Accordingly, this study attempted to determine the utility value of houses based on housing rent data. In this study, we applied mixed geographically weighted regression (MGWR) to explore the residential rent in Nanjing, the largest city in Jiangsu Province. The results show that the distribution of residential rent has a multi-center group pattern. Commercial centers, primary and middle schools, campuses, subways, expressways, and railways are the most significant influencing factors of residential rent in Nanjing, and each factor has its own unique characteristics of spatial differentiation. In addition, the MGWR has a better fit with housing rent than geographically weighted regression (GWR). These research results provide a scientific basis for local real estate management and urban planning departments.

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Zhai, Dong, Yishu Shang, Haizhen Wen, and Junbo Ye. "Housing Price, Housing Rent, and Rent-Price Ratio: Evidence from 30 Cities in China." Journal of Urban Planning and Development 144, no. 1 (March 2018): 04017026. http://dx.doi.org/10.1061/(asce)up.1943-5444.0000426.

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Eriksen, Michael D., and Amanda Ross. "Housing Vouchers and the Price of Rental Housing." American Economic Journal: Economic Policy 7, no. 3 (August 1, 2015): 154–76. http://dx.doi.org/10.1257/pol.20130064.

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We estimate the effect of increasing the supply of housing vouchers on rents using a panel of housing units in the American Housing Survey. We do not find that an increase in vouchers affected the overall price of rental housing but do estimate differences in effects based on an individual unit's rent before the voucher expansion. Our results are consistent with voucher recipients renting more expensive units after receiving the subsidy. We also find that the largest price increases were for units near the maximum allowable voucher rent in cities with an inelastic housing supply. (JEL H23, I38, R31, R38)

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Li, Dai Yuan, Cong Wei Xie, Shu Hao Chen, and Xiu Xiang Zou. "Research on the Pricing of Shared Ownership Housing." Applied Economics and Finance 6, no. 1 (December 4, 2018): 30. http://dx.doi.org/10.11114/aef.v6i1.3832.

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To a great extent, the abnormal phenomena of profit making in speculation houses will disappear and the rigid housing demand of ordinary families will be resolved by shared ownership housing. Starting from the consumption structure of the target group of the shared ownership housing, this paper makes an in-depth analysis of the pilot cities that have implemented the shared ownership housing through literature review and data survey, empirically analyses the deviation degree of house rent and the unbalanced situation of residents' housing affordability, and studies the rent of the shared ownership housing and the unbalanced situation of residents' housing affordability through panel data model. Through the comprehensive index of housing affordability to find out the best proportion of the rent of shared ownership housing in the monthly income of young workers aged 20-35, and then get the monthly rent, give relevant feasible suggestions. The research shows that government departments should implement the common property right housing from the aspects of reducing land transferring fees and taxes, strengthening the qualification examination mechanism and so on.

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ACHEAMPONG, PRINCE, and George William Earl. "Can Build-To-Rent Generate Affordable Housing Outcomes? A Whole-Life Costing Approach to Investment Analysis." Accounting and Finance Research 9, no. 4 (November 22, 2020): 85. http://dx.doi.org/10.5430/afr.v9n4p85.

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Doubts remain among stakeholders in academia and the housing industry about the potential success of build-to-rent to generate positive outcomes for institutional investors and affordable dwellings for low- and moderate-income households. However, a systematic study on the viability of build-to-rent to deliver affordable housing in Australia is largely rare and non-existent in the literature. We fill this gap in the literature by investigating the financial viability of build-to-rent and its potential to generate affordable rental housing outcomes in Brisbane, Australia. Using rental prices from CoreLogic (Formerly RP data) and construction-related costing data from WT Partners Australia for 2019, we apply the whole-life costing approach to investment analysis and confirm that build-to-rent can be feasible in Australia under equity financing. Also, we find that under the current regulatory regimes and market structure, build-to-rent will fail to deliver affordable housing outcomes. Moreover, providing free land alone cannot help to make build-to-rent affordable. Thus, significant public subsidy and tax concessions, particularly on Goods and Services Tax (GST) on construction-related costs, may be required if build-to-rent developments are to generate affordable housing outcomes in Australia.

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Zakaria, Yakubu A., and Kuusaana Elias Danyi. "Housing Affordability: Factors Influencing Housing in the Tamale Metropolis of Ghana." International Journal of Regional Development 7, no. 2 (September 17, 2020): 1. http://dx.doi.org/10.5296/ijrd.v7i2.17540.

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Housing is considered a basic human need. Yet deficit housing supply plagues Ghana. Studies on housing concentrate mainly on offering accommodation that neglects the problem of its affordability. As a result, this study examines factors influencing housing affordability using the Tamale Metropolis as a case study. Using stratified random sampling methodology, 271 renters and homeowners was chosen. Data analysis utilized descriptive statistics. The study showed inflation, rapid urbanization, and building material costs were the dominant factors that influence housing affordability. Rent was also found to be relatively affordable for all categories of housing units. Furthermore, it emerged that the efforts of homeowners, the private sector developers, and the state in the provision of housing were insufficient in providing affordable housing. Consequently, tenants are forced to invest over longer years for constructing or buying a home. The private sector should use less-cost building materials in its projects to provide housing for rent and/or sale, and still present minimum quality standards. It will mean that construction costs will not be too high to justify a high rent once the building is completed. Rent will be on the low side when this happens so tenants can afford to. Equally, it is precarious that the government joins forces with the private estate developers to put up flats at reasonable prices using cheap local building materials.

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Yrigoy, Ismael. "Rent gap reloaded: Airbnb and the shift from residential to touristic rental housing in the Palma Old Quarter in Mallorca, Spain." Urban Studies 56, no. 13 (December 12, 2018): 2709–26. http://dx.doi.org/10.1177/0042098018803261.

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In light of the advent of Airbnb, rent gap theory can be helpful for understanding how tourist rentals affect residential rental housing. It is argued that on those properties currently rented to residents, rental payments are not only ‘actual ground rent’, but also ‘potential ground rent’. The shift from a residential to a touristic use of rental housing thereby creates a potential ground rent. Taking as a case study the Palma Old Quarter in Mallorca, Spain, this paper analyses the evolution of the stock, prices, and revenues of residential rentals vis-à-vis tourist rentals and finds that, because it is more profitable to rent to tourists than to residents, the number of houses listed on Airbnb has increased, housing affordability for residents has shrunk, and the threat of displacement has increased.

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Farahani, Ilia, and Shadi Yousefi. "Public housing, intersectoral competition, and urban ground rent: Iran’s first public housing program that never was." Human Geography 14, no. 1 (March 2021): 45–61. http://dx.doi.org/10.1177/1942778621996383.

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This paper investigates the structural political economic drivers of the housing market in urban Iran and the ways in which social and economic dynamics of the housing sector are rooted in peculiarities of Iranian capitalism, characterized by a relatively small public economy, low productivity of capital, and an underdeveloped financial system. The paper examines these processes and mechanisms in the light of the illustrative case of the country’s first and largest state-led housing program, the Mehr Housing Program (MHP). The paper argues that the program’s failure is due primarily to the state’s market-oriented approach toward housing. The MHP’s units were sold at their market prices, and the state subsidized the land to the developers with low rent, facilitating investments. Utilizing an intersectoral and multi-scalar analytical framework, we further argue that what drives the investment is absolute ground rent present in the housing sector due to its labor-intensive character. The high level of rent is due to persistently low profitability in the manufacturing sector and, subsequently, excess profits in construction and housing. Thus, rent-seeking investors tend to invest in housing. These peculiarities of the Iranian economy determined the trajectory and the failure of the MHP as a public housing initiative.

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Cherry, Gordon E. "Land rent, housing and urban planning." Cities 2, no. 3 (August 1985): 272. http://dx.doi.org/10.1016/0264-2751(85)90048-4.

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Malone, Patrick. "Land rent, housing and urban planning." Habitat International 13, no. 4 (January 1989): 168–69. http://dx.doi.org/10.1016/0197-3975(89)90052-0.

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Li, Liu, and Qi. "Regional Heterogeneity of Migrant Rent Affordability Stress in Urban China: A Comparison between Skilled and Unskilled Migrants at Prefecture Level and Above." Sustainability 11, no. 21 (October 24, 2019): 5920. http://dx.doi.org/10.3390/su11215920.

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Rental housing unaffordability has been widely used to assess the housing poverty problem among immigrants in the developed and developing countries. China is experiencing an unprecedented urbanization process, with two-thirds of its 250 million migrants now being sheltered in private rental housing in the host cities. In this paper, we aimed to examine the rental housing unaffordability problems faced by migrant workers in urban China and provide policy recommendations for a more accessible and affordable migrant housing provision system. We used the household data on China’s Migrant Dynamics Monitoring Survey (MDMS), released in 2016, across China’s 329 prefecture-level cities and above to look into the sociality and spatiality of migrant rent expenses and rent-income ratio at the prefecture-level cities and above. The statistical tests were conducted to examine the socio- and spatial-variance of these rent stress indexes, and it was found that educational level is a significant and quite powerful indicator in predicting who will or will not assume the heavier rental housing pressure. We then continued to reveal the different spatiality of high-rent-stress migrants across the high- and low-skilled categories. An agglomeration of the high-skilled high-rent-stress migrants was witnessed in the coastal growth engines of urban clusters, while a more spillover-like pattern among the low-skilled high-rent-stress migrants was reported in our study. An ordinary least square and spatial regression analysis was conducted to explain their respective mechanisms.

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Diamond, Rebecca, Tim McQuade, and Franklin Qian. "Who Pays for Rent Control? Heterogeneous Landlord Response to San Francisco’s Rent Control Expansion." AEA Papers and Proceedings 109 (May 1, 2019): 377–80. http://dx.doi.org/10.1257/pandp.20191021.

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Using a 1994 law change, we exploit quasi-experimental variation in the assignment of rent control in San Francisco to study which types of landlords bear the burden of decreased rental payments versus substitute away from supplying rent-controlled housing. We find rent control leads to a long-run decrease in the supply of rental housing. This effect is more pronounced among properties managed by corporate landlords versus individual landlords. Raising revenue for rental subsidies through rent control appears to be regressive, since corporations can evade the tax burden of rent control more easily, likely due to their superior access to capital.

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Chapelle, Guillaume, Etienne Wasmer, and Pierre-Henri Bono. "Spatial Misallocation and Rent Controls." AEA Papers and Proceedings 109 (May 1, 2019): 389–92. http://dx.doi.org/10.1257/pandp.20191024.

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In many global cities the rental housing market is partially regulated. We document that the Paris housing market is dual: a flexible rent sector coexists with a large controlled rent sector. The two sectors have very different rent gradients towards the center of the agglomeration. We develop a model explicitly accounting for these features which allows to investigate general equilibrium effects of rent controls at the city level. In this framework the coexistence of a controlled and flexible rent sector increases the spatial misallocation of households. This mismatch can generally be alleviated by an improvement in urban transport infrastructures.

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Lin, Che-Chun, and I.-Chun Tsai. "HOUSE PRICES, RENTAL COSTS, AND MORTGAGE INTEREST RATES." International Journal of Strategic Property Management 25, no. 5 (May 31, 2021): 356–68. http://dx.doi.org/10.3846/ijspm.2021.14966.

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Studies have typically adopted the price-rent ratio to determine whether housing exuberance exists and the periods of imbalance between house prices and rental costs. Using the price-rent ratio to conduct tests without considering the effects of mortgage interest rates on user costs may overestimate episodes of exuberance. This study uses data of the overall housing market and those of 10 major metropolitan statistical areas (MSAs) in the United States from 1979Q1 to 2018Q1 to evaluate whether housing exuberance exists in the markets; the results indicate that all the MSAs experienced episodes of exuberance at different times and the overall housing U.S. market was overheated from 1998Q2 to 2007Q3. By considering mortgage rates and using the user-cost-rent ratio, we further determine that short-term housing exuberance emerged in only two MSAs, Los Angeles and Miami, in 2006Q2, which was followed by immediate corrections. Thus, the research results of this study signify that only use the price-rent ratio to determine whether or not rational housing tenure choice made by traders exists is not sufficient. This study provides evidence showing that the method incorporating mortgage interest rates tends to obtain an equilibrium relationship between the rental and housing markets, indicating interest rates play an important role in housing tenure choice.

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Kholodilin, Konstantin A., Leonid E. Limonov, and Sofie R. Waltl. "Housing rent dynamics and rent regulation in St. Petersburg (1880–1917)." Explorations in Economic History 81 (July 2021): 101398. http://dx.doi.org/10.1016/j.eeh.2021.101398.

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Chen, Lin, Wei Liang Zou, and Jian Tan. "An Empirical Study on the Implementation Effect Evaluation of Housing Policy Expansion Project - A Case from Guangzhou." Applied Mechanics and Materials 638-640 (September 2014): 2355–63. http://dx.doi.org/10.4028/www.scientific.net/amm.638-640.2355.

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In recent years, many cities have been broadening the scope of housing security, in order to safeguard low income families, by increasing the low income cut-off and by lowering the thresholds of application for housing security. Firstly, an empirical analysis on the implementation effect is applied in this paper focused on the expansion of low-rent housing security policy in Guangzhou. Secondly, the existing problems during the expansion policy implementation is also concluded in this paper from perspective of working style, effectiveness, security standard, and application experience of residents. Finally, possible suggestions are proposed in this paper for improving the low-rent housing security policy in Guangzhou, in the mean time, providing the reference for the setting and implementation of the expansion of low-rent housing security policy in other cities.

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Chinloy, Peter, Man Cho, Cheng Jiang, and Inho Song. "Housing Returns with Mortgage and Price Shocks." Journal of Real Estate Research 42, no. 1 (January 2020): 105–24. http://dx.doi.org/10.22300/0896-5803.42.1.105.

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We examine the sum of the net rent-price ratio plus the expected real capital gains, which is the real return to holding a house. The rent-price ratio depends on expectations about interest rates, inflation, and real house prices. The shock coefficients are their incidences, which are the proportions of risk that occupants bear. Occupants are on the demand side, as tenants or owners. For U.S. houses with quarterly data between 1981 and 2016, these incidences are below 0.15, limiting rent-price volatility. The low-volatility yield forces real capital gains to near zero, leading houses to bond-like returns.

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Nishi, Hayato, Yasushi Asami, and Chihiro Shimizu. "Housing features and rent: estimating the microstructures of rental housing." International Journal of Housing Markets and Analysis 12, no. 2 (April 1, 2019): 210–25. http://dx.doi.org/10.1108/ijhma-09-2018-0067.

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Purpose While consumers did not previously have information on detailed housing features via traditional media, such as magazines, nowadays, due to the progress in information technology, they can access detailed information on various housing features via housing information websites. Therefore, detailed housing features may affect current rents to some extent. This paper aims to identify the effects of detailed housing features on rent and on omitted variable bias in Tokyo, Japan. Design/methodology/approach This paper applies the hedonic approach. To identify the effects of features which are not observed previously, we use a unique data set that contains various housing features and over 200,000 housing units. This data set enables to simulate the situations when the researcher cannot get some variables, and this simulation shows which variables cause omitted variable bias. Findings The analysis shows that housing features significantly influence housing rent. If significant housing feature variables are not included in the hedonic model, the estimated coefficients show omitted variable bias. Additionally, unit-specific features such auto-locking door can cause omitted variable bias on location-specific features such accessibility to downtown. Originality/values This paper shows empirical evidence that detailed housing features can cause omitted variable bias on other features including variables which are often used in previous searches. The result from our unique data set can be a guide for variable selection to reduce omitted variable bias.

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King, R. J. "Capital Switching and the Role of Ground Rent: 2 Switching between Circuits and Switching between Submarkets." Environment and Planning A: Economy and Space 21, no. 6 (June 1989): 711–38. http://dx.doi.org/10.1068/a210711.

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In the first paper of this series of three, Harvey's ‘circuits of capital’ argument was discussed, and was linked first to ground rent theory, and second to forms of social change and crisis in advanced, Western-style economies. In the present paper these various theoretical insights are used to reflect upon the urban housing market in Melbourne from the 1930s to the 1980s. It is concluded (1) that average rent (average annual cost relative to wages), and thereby housing-related accumulation, rose virtually uninterrupted from 1932 to 1977, providing the incentive to the suburbanisation boom of the 1950s and 1960s; (2) that an extraordinary rise in average rent in 1973 – 74 (to be viewed as ‘absolute rent’) created an affordability barrier, inhibiting the ability of the housing sector to provide an outlet for speculative investment in the current ‘global crisis’; and (3) that differentiated shifts in monopoly ground rent (that is, price rises in some submarkets and falls in others) thereby became increasingly important in providing incentive for both speculative and productive investment in housing. The third paper will extend this empirical exploration to the social conditions enabling these processes, and in turn affected by them.

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Gupta, Manish, and Ruchita Gupta. "Demand for Rental Housing: Evidence from Slum Settlements in Delhi." Urbanisation 2, no. 1 (May 2017): 9–27. http://dx.doi.org/10.1177/2455747117700942.

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Government policies have largely focussed on ownership-based models while addressing the challenge of low-income housing in urban India. Possibilities of rental housing, which is an important form of housing for the urban poor, have not been explored meaningfully. This article estimates the demand for rental housing and its attributes in Delhi’s slums using primary survey data of tenant households. Estimates of demand for rental housing attributes reveal rent to be higher for dwellings that have a separate kitchen, bathroom, reasonably good access to water and wide approach roads. The results further show the demand for rental housing to be inelastic with respect to price (i.e., rent) and income. However, rent has a greater influence on housing consumption than income. Households prefer living closer to their workplace and value security of tenure. Policies aimed at moderating rents are likely to be more effective in enhancing housing consumption. The policy focus should be on improving infrastructure in the slums, their in situ redevelopment and ensuring security of tenure.

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Zhou, Shumin, Huijun Sun, Tianchao Guan, and Tongfei Li. "Equilibrium Model of Housing Choice for Heterogeneous Households under Public Rental Housing Policy." Sustainability 10, no. 12 (November 29, 2018): 4505. http://dx.doi.org/10.3390/su10124505.

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The rapid development of urban rail transit system leads to the rising land rent and housing rent along the rail transit line. In order to respond to housing demand for low-income households, the public rental housing policy came into being. Public rental housing, with the advantage of lower rent than commercial housing, has become the primary choice for low-income households. However, the preset location of public rental housing is usually in the suburbs, separating the workplace and residence, which increases in travel cost. Consequently, it is particularly necessary to study the effect of public rental housing on the utilities of heterogeneous households from the perspective of transportation, and an equilibrium model of housing choice for heterogeneous households under public rental housing policy has been suggested in this paper. The result shows that the change in average operating speed of the rail may lead to the difference in urban residential formation and the increased speed of the rail may not be able to eliminate the location disadvantage of public rental housing. Furthermore, we find that ultra-limit public rental housing with the remote location is detrimental for low-income households. The model explicitly considers the interaction among the government, property developers, and heterogeneous households in the housing market, and can be utilized as an instruction for the future sustainable development of public rental housing.

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Borgersen, Trond-Arne. "Loan-to-value and the price-rent ratio." Journal of European Real Estate Research 13, no. 2 (April 23, 2020): 149–59. http://dx.doi.org/10.1108/jerer-12-2019-0053.

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Purpose The purpose of this paper is to highlight the relation between the loan-to-value (LTV) ratio and the price-rent (PR) ratio. The paper intends to relate the PR-ratio to housing return and the potential for a leverage gain in housing investments by considering the funding structure of housing investments. Design/methodology/approach Combining a PR-ratio approach with the housing return in the case of mortgage-financed housing, as presented by Borgersen and Greibrokk (2012), this paper relates LTV to the PR-ratio. Findings When formalising the relationship between leverage and housing return, as given by Muellbauer and Murphy (1997), the paper finds the effect of a higher LTV on the user cost of housing as the net effect of a higher borrowing cost and the associated leverage gain. The latter depends on the relationship between house price growth and the mortgage rate and, because the leverage gain has an ambiguous effect on the user cost of housing, the relation between the LTV-ratio and the PR-ratio is context-specific. Originality/value The paper aims to contribute to the literature on PR ratios in two ways. First, by explicitly including the LTV-ratio in the user cost of mortgage financed housing and, correspondingly, in the PR-ratio derived from the user cost. Second, by including the funding structure of housing investments the expression for the capital gain, which often is discussed in the PR-ratio literature, is related to the funding structure and includes both a price gain and a leverage gain.

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Quigley, John M., and Steven Raphael. "Is Housing Unaffordable? Why Isn't It More Affordable?" Journal of Economic Perspectives 18, no. 1 (February 1, 2004): 191–214. http://dx.doi.org/10.1257/089533004773563494.

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This paper reviews trends in housing affordability in the U.S. over the past four decades. There is little evidence that owner-occupied housing has become less affordable. In contrast, there have been modest increases in the fraction of income that the median renter household devotes to housing. We find pronounced increases in the rent burdens for poor households. We explore the low-income rental market in more detail, analyzing the relative importance of changes in the income distribution, in housing quality, land use regulation, and zoning in affecting rent burdens. We also sketch out some policies that might improve housing affordability.

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Diamond, Rebecca, Tim McQuade, and Franklin Qian. "The Effects of Rent Control Expansion on Tenants, Landlords, and Inequality: Evidence from San Francisco." American Economic Review 109, no. 9 (September 1, 2019): 3365–94. http://dx.doi.org/10.1257/aer.20181289.

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Using a 1994 law change, we exploit quasi-experimental variation in the assignment of rent control in San Francisco to study its impacts on tenants and landlords. Leveraging new data tracking individuals’ migration, we find rent control limits renters’ mobility by 20 percent and lowers displacement from San Francisco. Landlords treated by rent control reduce rental housing supplies by 15 percent by selling to owner-occupants and redeveloping buildings. Thus, while rent control prevents displacement of incumbent renters in the short run, the lost rental housing supply likely drove up market rents in the long run, ultimately undermining the goals of the law. (JEL R23, R31, R38)

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Ruan, Ke. "On the Institutional Arrangements to Effectively Allocate Housing Resources." Applied Mechanics and Materials 174-177 (May 2012): 3215–18. http://dx.doi.org/10.4028/www.scientific.net/amm.174-177.3215.

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Taking Hangzhou as an example, this paper analyzes the present situation and problems of low-rent housing exit, and developed countries and regions’ practice and experience as well. It proposes the countermeasures to optimize low-rent housing exit mechanism, including the building of information sharing mechanism, the legal system perfection and the establishment of gravity mechanism, etc.

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Pourcelot, Alexis, Alain Coën, Richard Malle, and Arnaud Simon. "Rent dynamics in France between 1970 and 2013." Journal of European Real Estate Research 13, no. 2 (July 14, 2020): 127–48. http://dx.doi.org/10.1108/jerer-12-2019-0057.

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Purpose The purpose of this study is to highlight the determinants of market rents and to build a hedonic market rent index for each urban area and rental sector in France for the period 1970–2013. The authors also analyse the market rent dynamics over this period, with a special attention to the turning points in the French housing policy. Design/methodology/approach For this purpose, the authors implement a hedonic model, called stratified time dummy variable, using the Box–Cox transformation as a functional form. Findings The contribution of this study to the housing research is threefold: First, the study improves our understanding of the French’s rental submarket specificities and their valuation. It sheds new light on the determinants of rents. Second, this study builds a hedonic market rent index over the period 1970–2013 for each geographical and sectoral segment (Paris urban area, urban areas of more and less than 100,000 inhabitants and private and public rental sectors). Third, this study explains rent dynamics focusing on the turning points in the French housing policy. Originality/value Finally, the authors provide the first long-term market rent index in France by submarket (geographical and sectoral). In the case of the French market, no long-term market rent exists. The only long series available is an indexed rent.

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Ali, Suhaila, and Abdul Rashid Abdul Aziz. "Malaysia's Housing Planning Approval: Rent-seeking Behaviours." Asia Proceedings of Social Sciences 2, no. 1 (December 2, 2018): 33–38. http://dx.doi.org/10.31580/apss.v2i1.282.

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Malaysiaâ€™s housing planning approval is complex. The involvement of various staff of approving agencies provides ample opportunities for rent-seeking behaviours. The operational definition of rent-seeking behaviours for this research is the act of receiving â€˜unearned wagesâ€™ (e.g. cash, food treats, etc.) by staff of approving agencies in exchange for privileges (e.g. faster approval, compliance flexibility, etc.) given to developers. The objective of this paper is to explore the problems in obtaining planning approval and developersâ€™ expectations when giving out rents to staff of approving agencies. Exploratory sequential mixed method (QUALÃ quan) was conducted to derive to the solutions. Lengthy period is the key problem in obtaining planning approval. Receiving sufficient and timely information, reducing unreasonable reviews and comments, reducing poor discretion and expediting appointments with approving officer are the main developersâ€™ expectations when giving out rents as a last recourse to provide the solution to the problem in obtaining planning approval.

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Kolotilkin, B. "Housing Rent Cost Accounting and Social Justice." Problems in Economics 34, no. 2 (June 1991): 83–95. http://dx.doi.org/10.2753/pet1061-1991340283.

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Fuerst, J. S. "Tenant Management in Low-Rent Public Housing." Social Service Review 62, no. 2 (June 1988): 337–45. http://dx.doi.org/10.1086/644550.

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Glaeser, Edward L., and Erzo F. P. Luttmer. "The Misallocation of Housing Under Rent Control." American Economic Review 93, no. 4 (August 1, 2003): 1027–46. http://dx.doi.org/10.1257/000282803769206188.

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The standard analysis of price controls assumes that goods are efficiently allocated, even when there are shortages. But if shortages mean that goods are randomly allocated across the consumers that want them, the welfare costs from misallocation may be greater than the undersupply costs. We develop a framework to empirically test for misallocation. The methodology compares consumption patterns for demographic subgroups in rent-controlled and free-market places. We find that in New York City, which is rent-controlled, an economically and statistically significant fraction of apartments appears to be misallocated across demographic subgroups.

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Bettendorf, Leon, and Erik Buyst. "Rent Control and Virtual Prices: A Case Study for Interwar Belgium." Journal of Economic History 57, no. 3 (September 1997): 654–73. http://dx.doi.org/10.1017/s0022050700019082.

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After World War I rent control became a cornerstone of housing policy in many European countries, resulting in quantity constraints on the demand for housing. The theory on complete demand systems provides a framework for analyzing the effects of these policies on consumption. As a test case, a demand model is estimated to calculate virtual rent prices for interwar Belgium. The results are well in line with historical evidence, providing insight into the extent of rationing Simulations with the demand model show that the severe rent restrictions especially favored expenditures on food.

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Bettendorf, Leon, and Erik Buyst. "Rent Control and Virtual Prices: A Case Study for Interwar Belgium." Journal of Economic History 57, no. 3 (September 1997): 654–73. http://dx.doi.org/10.1017/s0022050700113403.

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After World War I rent control became a cornerstone of housing policy in many European countries, resulting in quantity constraints on the demand for housing. The theory on complete demand systems provides a framework for analyzing the effects of these policies on consumption. As a test case, a demand model is estimated to calculate virtual rent prices for interwar Belgium. The results are well in line with historical evidence, providing insight into the extent of rationing Simulations with the demand model show that the severe rent restrictions especially favored expenditures on food.

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HANKINSON, MICHAEL. "When Do Renters Behave Like Homeowners? High Rent, Price Anxiety, and NIMBYism." American Political Science Review 112, no. 3 (March 9, 2018): 473–93. http://dx.doi.org/10.1017/s0003055418000035.

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How does spatial scale affect support for public policy? Does supporting housing citywide but “Not In My Back Yard” (NIMBY) help explain why housing has become increasingly difficult to build in once-affordable cities? I use two original surveys to measure how support for new housing varies between the city scale and neighborhood scale. Together, an exit poll of 1,660 voters during the 2015 San Francisco election and a national survey of over 3,000 respondents provide the first experimental measurements of NIMBYism. While homeowners are sensitive to housing’s proximity, renters typically do not express NIMBYism. However, in high-rent cities, renters demonstrate NIMBYism on par with homeowners, despite continuing to support large increases in the housing supply citywide. These scale-dependent preferences not only help explain the deepening affordability crisis, but show how institutions can undersupply even widely supported public goods. When preferences are scale dependent, the scale of decision-making matters.

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Robertson, Mary. "The great British housing crisis." Capital & Class 41, no. 2 (December 2, 2016): 195–215. http://dx.doi.org/10.1177/0309816816678571.

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Noting the recent resurgence of housing as a political issue, this article takes a historic view of the origins of the current housing crisis. While the foundations of the contemporary housing system were laid in the period following the First World War, the roots of the crisis lie in two developments in the 1980s: the privatisation of the social housing stock through the Right to Buy and the growth of mortgage lending in response to financial liberalisation. These two changes combined to produce an upsurge in ground rent on residential land and a restructuring of housing consumption and production around the pursuit of this ground rent. This article ends by outlining a range of policy measures and considering the prospects for their implementation.

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Aalbers, Manuel B., and Anne Haila. "A conversation about land rent, financialisation and housing." Urban Studies 55, no. 8 (March 19, 2018): 1821–35. http://dx.doi.org/10.1177/0042098018759251.

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Manuel B Aalbers and Anne Haila discuss their respective recent books, The Financialization of Housing: A Political Economy Approach (Aalbers, 2016) and Urban Land Rent: Singapore as a Property State (Haila, 2016). Their debate focuses on issues such as comparative research, a political economy approach to urban studies, and topics of interest such as land rent, financialisation, housing, property states, path dependency, regulation and the role of the state.

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Gao, Xiu Qing, Hong Hai Wang, and Feng Tao Sui. "Discussion on Cost Control of Low-Rent Housing Projects." Applied Mechanics and Materials 209-211 (October 2012): 1531–34. http://dx.doi.org/10.4028/www.scientific.net/amm.209-211.1531.

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This paper proceeds from the cost problems in low-rent housing projects and proposes that the cost control of such programs consist of subjective control and objective control. With analysis on subjective and objective controls, it gives the government detailed suggestions for cost control in low-rent housing program, specifically developing policies and regulations for cost control and introducing non-governmental funds into the program.

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Journal articles on the topic 'Rent housing'

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