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This paper studies the real effects of foreign real estate capital inflows. Using transaction-level data, we document (i) a "China shock" in the U.S. housing market characterized by surging foreign Chinese housing purchases after 2008, and (ii) "home bias" in these purchases, as they concentrate in neighborhoods historically populated by ethnic Chinese. Exploiting their temporal and spatial variation, we find that these capital inflows raise local employment, with the effect transmitted through a housing net worth channel. However, they displace local lower-income residents. Our results show that real estate capital inflows can both stimulate the real economy and induce gentrification. [ABSTRACT FROM AUTHOR]

This article reports the results of a community-based, participatory action research project comparing Shaw, in Washington, DC, and Orange, NJ, which were at different stages in the process of gentrification. We were specifically interested in sources of stress that may lead to physical and mental illness. Our data show that gentrification, a form of redevelopment in chronically disinvested neighbourhoods, is a drawn-out and high-conflict situation with many inbuilt stressors including: long-term deprivation preceding redevelopment; displacement by gentrification; loss of social bonds; rent burden; improper manoeuvres by landlords; and betrayal by politicians. The process also undermines the sense that society has solidarity with all people. Harmful as these processes are, of even more concern was the increasing financialization of real estate, which is making these experiences more common among communities across much of the socioeconomic spectrum. Community organizing has been a key strategy in this asymmetric conflict, but given the international financialization of housing, additional strategies will be needed. [ABSTRACT FROM AUTHOR]

The autoregressive heteroscedastic effects of the conditional volatility processes of direct real estate (capital value) returns are subject to a broad range of econometrics. However, while many specifications have been utilised in the empirical design, the literature has commonly modelled the innovation term within the GARCH volatility processes of real estate capital values through a Gaussian normal distribution. This a priori assumption falls short of the data characteristics exhibited by capital value returns, implying that capital value returns cannot be adequately modelled without adapting to the innovation term distribution. Misspecification can underestimate risk and lead to the over-allocation of riskier assets. This study investigates the impact of the a priori assumption about the innovation terms applied to capital value returns, as well as their robustness, through a time-varying framework. The main findings are that misspecification and parameterisation occur when assuming the normality of the innovation term, and that the application of a priori assumptions of the innovation term beyond those of a normal, Student's t, or generalised error distribution currently employed in the literature can increase the validity of volatility models when applied to capital value returns. The application of the Johnson – SU distribution yields the best overall performance. [ABSTRACT FROM AUTHOR]

Buying and selling real estate is time consuming and labor intensive, requires many intermediaries, and incurs high fees. Blockchain technology provides the real estate industry with a reliable means of tracking transactions and increases trust between the parties involved. Despite the benefits of blockchain, its adoption in the real estate industry is still in its infancy. Therefore, we investigate the factors that influence the acceptance of blockchain technology by buyers and sellers of real estate. A research model was designed based on the combined strengths of the unified theory of technology acceptance and use model and the technology readiness index model. Data were collected from 301 real estate buyers and sellers and analyzed using the partial least squares method. The study found that real estate stakeholders should focus on psychological factors rather than technological factors when adopting blockchain. This study adds to the existing body of knowledge and provides valuable insights to real estate stakeholders on how to implement blockchain technology. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Planning Education & Research is the property of Sage Publications 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.)

This article analyzes how urban development and property management strategies shape and accelerate new-build speculation (i.e., speculation mechanisms attached to the development of newly built real estate projects) in Phnom Penh (the capital of Cambodia), a city experiencing a growing financialization of its real estate markets. By discussing dominant conceptions of property speculation within critical research in geography and urban studies, the article shows that speculation has primarily been seen as a fictitious and unproductive form of capital accumulation rather than as an effective mechanism of urban production. Analyzing the development of mixed-use, large-scale, and condominium projects, the article argues that not only does property speculation participate in shaping real estate development but also that the production and management of real estate projects "engineer" property speculation and the spatialization logics of real estate financialization. Four main mechanisms of new-build speculation are identified: the design of speculative urbanity, the refining of the liquidity of real estate assets, the spatialization of speculation, and the production of territorial investment platforms. Ultimately, the article discusses how the intensification of the construction of large-scale, mixed-use, and condominium projects in Global South cities is supporting a speculative turn of urban development in so-called frontier markets. [ABSTRACT FROM AUTHOR]

The construction is one of the key contributing sectors in the U.S. economy. For operational purposes, the construction sector uses inputs from other producing sectors. That dependence makes the construction sector vulnerable to shocks in other sectors. This paper has quantified that vulnerability measured in terms of the annual percentage production loss due to shocks in other sectors. As such, this paper has collected 25 years of historical data from the U.S. Bureau of Economic Analysis and used them in an input–output model to derive the intersectoral relationships, which were further used to calculate the impact of exogenous shocks on the construction sector. It has been found that a 1% annual production loss in the (1) finance, insurance, real estate, rental, and leasing sector; (2) government sector; and (3) manufacturing sector will cause an annual production loss of 0.16%, 0.11%, and 0.05% in the construction sector, respectively. These three sectors exert the most significant influence on the construction sector's annual production. The outcomes of this paper can also be used to measure the cumulative impact of multiple exogenous shocks originating in different sectors, which could ultimately help to make the U.S. construction sector resilient to external shocks. [ABSTRACT FROM AUTHOR]

Purpose: To explore value vs worth in the context of compulsory acquisition. Design/methodology/approach: Analysis of statutory environment within the context of valuation theory. Findings: Value and worth could be reconciled by redefining special value in Act. Research limitations/implications: Public policy amendment. Practical implications: Public policy amendment. Social implications: Facilitate just compensation. Originality/value: Topical issue in New South Wales, where massive compulsory acquisition programme underway to facilitate infrastructure development. [ABSTRACT FROM AUTHOR]

Purpose: Building information modeling (BIM) is a striking development in the architecture, engineering and construction (AEC) industry, which provides in-depth information on different stages of the building lifecycle. Real estate valuation, as a fully interconnected field with the AEC industry, can benefit from 3D technical achievements in BIM technologies. Some studies have attempted to use BIM for real estate valuation procedures. However, there is still a limited understanding of appropriate mechanisms to utilize BIM for valuation purposes and the consequent impact that BIM can have on decreasing the existing uncertainties in the valuation methods. Therefore, the paper aims to analyze the literature on BIM for real estate valuation practices. Design/methodology/approach: This paper presents a systematic review to analyze existing utilizations of BIM for real estate valuation practices, discovers the challenges, limitations and gaps of the current applications and presents potential domains for future investigations. Research was conducted on the Web of Science, Scopus and Google Scholar databases to find relevant references that could contribute to the study. A total of 52 publications including journal papers, conference papers and proceedings, book chapters and PhD and master's theses were identified and thoroughly reviewed. There was no limitation on the starting date of research, but the end date was May 2022. Findings: Four domains of application have been identified: (1) developing machine learning-based valuation models using the variables that could directly be captured through BIM and industry foundation classes (IFC) data instances of building objects and their attributes; (2) evaluating the capacity of 3D factors extractable from BIM and 3D GIS in increasing the accuracy of existing valuation models; (3) employing BIM for accurate estimation of components of cost approach-based valuation practices; and (4) extraction of useful visual features for real estate valuation from BIM representations instead of 2D images through deep learning and computer vision. Originality/value: This paper contributes to research efforts on utilization of 3D modeling in real estate valuation practices. In this regard, this paper presents a broad overview of the current applications of BIM for valuation procedures and provides potential ways forward for future investigations. [ABSTRACT FROM AUTHOR]

The importance of real estate development has been widely accepted by all countries. Through early warning and avoidance of real estate financial risks, it can effectively promote the healthy and healthy development of the real estate industry, avoiding the impact of accidental factors, such as the COVID-19 pandemic, and promoting the overall economic development. Based on multiple regression analysis and grey prediction methods, this article constructs a real estate financial risk estimation model, and the real estate financial risk is estimated using the relevant data of Liaoning Province from 2001 to 2020. Analyzing the research results of financial risks in Liaoning Province, we can find that the real estate financial risks reached the peak in 2013, and then the real estate financial risks gradually showed a slow decline trend. In general, the financial risks in Liaoning Province are controllable. The study of financial risks in Liaoning Province will help to judge the development of the real estate industry and promote the continuous improvement of the overall economy. The article, through the study of real estate financial risks in Liaoning Province, can promote the development of regional real estate in Liaoning Province and promote the overall economic development of Liaoning Province, which has strong practical significance. The study of real estate financial risks, relevant risk research theories can be enriched, the identification of financial risks can be improved, and the study of real estate financial risks can be strengthened. The article uses a combination of multivariate statistics and grey fuzzy theory to complete the study of real estate financial risks. Therefore, through the exploration of multivariate statistics and grey fuzzy theory, its application value can be elevated. [ABSTRACT FROM AUTHOR]

The urban rail transit network has gradually realized grid operation with the increase in the coverage rate. Therefore, the stopping schemes in accordance with the trend of the passenger flow are more conducive to improving the attractiveness of the rail transit and improving the sharing rate of the urban public transit. Traditional data from a single source may not be sufficient to describe the overall trend of the passenger flow in a period of time, and the error is possible in the case of insufficient data. Based on the multisource data, the spatial weight function is introduced to fuse the point of interest data and real estate information data, from which one obtains the residential index and office index, and the cluster analysis is conducted to obtain the potential stop scheme. Then, the optimization model of the train operation plan is established, aiming at minimizing the passenger travel time and the generalized system cost, and is constrained by a series of driving conditions. Compared with the single data source, multisource data can better reflect passenger flow trends and land use characteristics. Compared with the traditional all-station stopping scheme, a reasonable setting of crossing stations and running express-local trains can better satisfy the demands of the passenger flow. Finally, the optimization of Changchun rail Transit Line 1 shows that the model can reduce the travel time of passengers and the operating cost of the rail transit company and improve the quality of service, so as to achieve a win-win situation between passengers and the rail transit company. [ABSTRACT FROM AUTHOR]

From at least the early twentieth century, legal scholars have recognized that rights and other legal relations inhere between individual legal actors, forming a vast and complex social network. Yet, no legal scholar has used the mathematical machinery of network theory to formalize these relationships. Here, we propose the first such approach by modelling a rudimentary, static set of real property relations using network theory. Then, we apply our toy model to measure the level of modularity—essentially, the community structure—among aggregations of these real property relations and associated actors. In so doing, we show that even for a very basic set of relations and actors, law may employ modular structures to manage complexity. Property, torts, contracts, intellectual property, and other areas of the law arguably reduce information costs in similar, quantifiable ways by chopping up the world of interactions between parties into manageable modules that are semi-autonomous. We also posit that our network science approach to jurisprudential issues can be adapted to quantify many other important aspects of legal systems. This article is part of the theme issue 'A complexity science approach to law and governance'. [ABSTRACT FROM AUTHOR]

Copyright of FinanzRundschau is the property of De Gruyter 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.)

This study aims to analyze the amount of low-cost housing backlog (MBR) in the city of Palembang in 2025; calculate the number of uninhabitable houses as an addition to the housing backlog figure; calculate the land requirement for MBR housing in meeting the backlog in the city of Palembang; analyze the zoning for the placement of MBR housing with spatial patterns and spatial structures in the city of Palembang. This research uses a descriptive research method with a quantitative approach. The study was conducted in the city of Palembang, which is the seventh city with the highest housing backlog in Indonesia, with a backlog figure reaching 122,932 houses. Data collection was done through face-toface interviews by asking questions to the chairman of the South Sumatra Real Estate Association, the Palembang City Perkim Department, about housing backlog in Palembang. Data analysis used the Cambridge method, Sustainable Development Goals method, Minister of Public Works and Public Housing Regulation No.995/KPTS/M/2021 method, & Regional Regulation No.05 of 2022 method. The latest backlog figure recorded in 2018 was 122,932 dwellings (Palembang City Perkim Department, 2021). Uninhabitable houses (RTLH) in Palembang in 2019 experienced a decrease and continued to increase in 2020. The effective land requirement for MBR housing and Fasum Fasos with a ratio of 60:40 is calculated, followed by data on built houses according to REI data in Palembang. The zoning for the placement of MBR housing land in Palembang, which reached 4,987.62 ha in 2025, must consider the spatial patterns and spatial structures of Palembang City. [ABSTRACT FROM AUTHOR]

What is the impact of large swings in economic policy on the risk-return trade-off faced by i nvestors? What is the impact of changes in policy regimes on investment strategies? In this paper we study the impact on returns of switches between periods of market-friendly economic policies and periods of populist policies. To quantify the impact of policy instability, we use data from Argentina--a country that has experienced frequent and very large regime changes--and find that the risk-return for individual assets and minimum variance portfolios are quite different across regimes. We then develop a dynamic model to understand optimal portfolios when investors are cognizant that regimes can change. We find that when portfolios are unrestricted, it is optimal for investors to take a large amount of risk. On the other hand, when portfolios are restricted to include only long positions, a real asset (real estate) dominates financial assets. [ABSTRACT FROM AUTHOR]

In this article, we consider the current status of the governance of the Algerian waqf and provide an analysis of how governance may be altered in the light of the implementation of Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) governance standard 13 and the emergence of standardisation as new regulatory process in order to achieve the waqf objectives in a more effective and efficient manner. We argue that the establishment of the National Office of Awqaf and Zakat and the implementation of investment regulation of waqf real estate are an important shift in the governance of the Algerian waqf that could strengthen the governance, transparency, and disclosure of this sector. We recommend devising an investment policy, including risk management, that drives a balance between the waqf revenue and its ultimate objectives, in addition to establishing anticorruption procedures. [ABSTRACT FROM AUTHOR]

Copyright of European Journal of Applied Economics is the property of Singidunum University 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.)

We investigate the potential of global real estate to improve the long-term performance of a US equity portfolio, utilizing a recent dataset of 40 years' worth of US stocks, US real estate, 13 foreign stock markets, and 13 foreign real estate markets across diverse regions. Despite a modest performance in terms of risk and return, foreign real estate has consistently lower correlations with US stocks compared to foreign equities. Rolling correlation analysis indicates that foreign real estate markets remain relatively segmented compared to foreign equity, despite increasing financial market correlations over time. Efficient frontier analysis demonstrates that portfolios including foreign real estate consistently outperform those limited to US stocks and US real estate or those including foreign stocks, indicating the importance of foreign real estate in optimizing portfolio performance. Subperiod analysis reveals that foreign real estate retains its diversification benefits even in the latter, more integrated period. Our results are robust when using Conditional Value-at-Risk as a measure of risk. Overall, our findings highlight the persistent diversification benefits and superior risk-adjusted returns from incorporating foreign real estate into US equity portfolios. [ABSTRACT FROM AUTHOR]

In the fallout of the 2008 crisis, macroprudential policy has been installed as the policy remedy against future financial instability, a primary focus being developments in the real estate sector. With house prices consistently rising in the EU since 2014, causing alarm among macroprudential supervisory bodies, a core question of EU regulatory governance is how far macroprudential bodies have been capable of bringing about countercyclical actions against the build‐up of such vulnerabilities. This paper investigates this question using a novel dataset of macroprudential intensity coded for the 17 EU countries that experienced real estate vulnerabilities post‐euro crisis. Specifically, it asks which configuration of conditions account for the (in)capacity of countries to impose stringent countercyclical regulations against housing booms? Using fuzzy set qualitative comparative analysis technics coupled with qualitative analysis of country cases using expert interviews, we find that the absence of political salience of homeownership and the political independence of macroprudential authorities to be crucial conditions that jointly explain countercyclical macroprudential activity. These findings, which show two pathways to action have implications for the capacity of the EU to prevent future crises and future reform of the EU prudential framework. [ABSTRACT FROM AUTHOR]

We use data from Pakistan to establish a reciprocal exchange relationship between the judiciary and the government. We document large transfers in the form of expensive real estate from the government to the judiciary, and reciprocation in the form of pro-government rulings from the judiciary to the government. Our estimates indicate that the allocation of houses to judges increases pro-government rulings and reduces decisions on case merits. The allocation also incurs a cumulative cost of 0.03% of GDP to the government. However, it allows the government to expropriate additional land worth 0.2% of GDP in one year. [ABSTRACT FROM AUTHOR]

Copyright of Umsatzsteuer-Rundschau is the property of De Gruyter 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.)

Copyright of FinanzRundschau is the property of De Gruyter 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.)