Repeat Sales House Price Index Methodology
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| Author | : W. Erwin Diewert |
| Publisher | : Springer |
| Total Pages | : 0 |
| Release | : 2020-01-25 |
| Genre | : Business & Economics |
| ISBN | : 9784431559405 |
This book answers the question of how exactly property price indexes should be constructed. The formation and collapse of property bubbles has had a profound impact on the economic administration of many nations. The property price bubble that began around the mid-1980s in Japan has been called the 20th century's biggest bubble. In its aftermath, the country faced a period of long-term economic stagnation dubbed the "lost decade." Sweden and the United States have also faced collapses of property bubbles in the 20th and early 21st centuries, respectively. It has been pointed out that the "information gap" that existed between policy-making authorities and the property (including housing) and financial markets was a problem. In 2009, the IMF proposed the creation of a housing price index to the G20 in order to fill this information gap, and the proposal was adopted. Furthermore, in 2011, it was suggested that the next economic crisis would be caused by a bubble in commercial property prices, and it was decided to create a commercial property index as well. This book provides practical examples of how the theory of property price indexes can be applied to the issues of property as a non-homogenous good and a technological and environmental change.
| Author | : Tom Kauko |
| Publisher | : John Wiley & Sons |
| Total Pages | : 360 |
| Release | : 2009-01-28 |
| Genre | : Business & Economics |
| ISBN | : 9781444301038 |
This book takes a cross-disciplinary and cross-cultural look atmass appraisal expertise for property valuation in different marketconditions, and offers some cutting- edge approaches. The editors establish an international platform and present thescientific debate as well as practical feasibility considerations.Heretic and orthodox valuation methods are assessed based onspecific criteria, partly technical and partly institutional.Methodological evaluation is approached using two types ofcriteria: operational concerns about how to determine propertyvalue differentials between spatial and functional units of realestate in a valid and reliable way (technical criteria); and thekind of market circumstances being operated in (institutionalcriteria). While technical criteria are relatively well-researched,there is little theoretically informed work on the connectionbetween country context and selection of property appraisalmethods. The book starts with an examination of current mass propertyappraisal practices, presenting case studies from widely differingmarkets - from the American and Dutch, where regression-basedmethods have been used successfully for some time; to the EasternEuropean and other emerging economies, where limitations have to becompensated by focusing on the modelling assumptions. The second part of the book looks at sophisticated modellingapproaches, some of which represent combinations of elements fromtwo or more techniques. Whatever the exact modelling approach, therequirements are always high for the quality of the data andsuitability of the method. In the final section, methods areevaluated and compared according to technical criteria and againstinstitutional contexts.With its exceptionally wide coverage ofvaluation issues, Mass Appraisal Methods: an internationalperspective for property valuers addresses property valuationproblems common to different countries and approaches applicable inboth developed and emerging economies.
| Author | : Thomas G. Thibodeau |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 266 |
| Release | : 1997-03-31 |
| Genre | : Business & Economics |
| ISBN | : 9780792398837 |
This book contains a special issue of the Journal of Real Estate Finance and Economics, comprising thirteen articles on house price measurement. These articles address the various procedures used to compute cross-sectional or temporal house price indices. Specifically, these articles contain research that: (1) evaluates hedonic, repeat sales, or hybrid approaches to constructing house price indices; (2) evaluates alternative sources of data on house prices and corresponding housing characteristics; (3) identifies the most influential land, structural, neighborhood, and proximity determinants of house prices (and associated changes in house prices); (4) provides a methodology for identifying housing market segments; (5) incorporates spatial autocorrelation in house price indices; and (6) provides more accurate estimates of the variance in house prices.
| Author | : OECD |
| Publisher | : OECD Publishing |
| Total Pages | : 186 |
| Release | : 2013-04-22 |
| Genre | : |
| ISBN | : 9264197184 |
This Handbook provides, for the first time, comprehensive guidelines for the compilation of Residential Property Price Indexes and explains in depth the methods and best practices used to calculate an RPPI.
| Author | : Mingxiu Hu |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 340 |
| Release | : 2013-09-14 |
| Genre | : Medical |
| ISBN | : 1461478464 |
This volume presents 27 selected papers in topics that range from statistical applications in business and finance to applications in clinical trials and biomarker analysis. All papers feature original, peer-reviewed content. The editors intentionally selected papers that cover many topics so that the volume will serve the whole statistical community and a variety of research interests. The papers represent select contributions to the 21st ICSA Applied Statistics Symposium. The International Chinese Statistical Association (ICSA) Symposium took place between the 23rd and 26th of June, 2012 in Boston, Massachusetts. It was co-sponsored by the International Society for Biopharmaceutical Statistics (ISBS) and American Statistical Association (ASA). This is the inaugural proceedings volume to share research from the ICSA Applied Statistics Symposium.
| Author | : Anthony Owusu-Ansah |
| Publisher | : Routledge |
| Total Pages | : 222 |
| Release | : 2018-07-11 |
| Genre | : Business & Economics |
| ISBN | : 1351590995 |
The importance of house prices to households, real estate developers, banks and policy-makers cannot be overemphasised. House price changes affect consumer spending and business investment patterns, which in turn affect the wider macro economy and the entire business cycle. Measuring and understanding house prices is therefore essential to a functioning economy, but researchers continue to disagree on the best methodological approach for constructing real estate indices. This book argues the need for more accurate house price indices, outlines the various methods used to construct indices and discusses the existing house price indices around the globe. It shows how the raw data of property transactions can be prepared for the purpose of constructing indices, discusses various applications of property price indices and empirically demonstrates how the index numbers can be used to model the supply of new houses and to estimate the price elasticity of supply. Essential reading for economists, real estate professionals and researchers, and policy-makers.
| Author | : Peter M von der Lippe |
| Publisher | : Walter de Gruyter GmbH & Co KG |
| Total Pages | : 193 |
| Release | : 2016-11-21 |
| Genre | : Business & Economics |
| ISBN | : 3110511126 |
| Author | : |
| Publisher | : Elsevier |
| Total Pages | : 3870 |
| Release | : 2012-10-09 |
| Genre | : Social Science |
| ISBN | : 0080471714 |
Available online via SciVerse ScienceDirect, or in print for a limited time only, The International Encyclopedia of Housing and Home, Seven Volume Set is the first international reference work for housing scholars and professionals, that uses studies in economics and finance, psychology, social policy, sociology, anthropology, geography, architecture, law, and other disciplines to create an international portrait of housing in all its facets: from meanings of home at the microscale, to impacts on macro-economy. This comprehensive work is edited by distinguished housing expert Susan J. Smith, together with Marja Elsinga, Ong Seow Eng, Lorna Fox O'Mahony and Susan Wachter, and a multi-disciplinary editorial team of 20 world-class scholars in all. Working at the cutting edge of their subject, liaising with an expert editorial advisory board, and engaging with policy-makers and professionals, the editors have worked for almost five years to secure the quality, reach, relevance and coherence of this work. A broad and inclusive table of contents signals (or tesitifes to) detailed investigation of historical and theoretical material as well as in-depth analysis of current issues. This seven-volume set contains over 500 entries, listed alphabetically, but grouped into seven thematic sections including methods and approaches; economics and finance; environments; home and homelessness; institutions; policy; and welfare and well-being. Housing professionals, both academics and practitioners, will find The International Encyclopedia of Housing and Home useful for teaching, discovery, and research needs. International in scope, engaging with trends in every world region The editorial board and contributors are drawn from a wide constituency, collating expertise from academics, policy makers, professionals and practitioners, and from every key center for housing research Every entry stands alone on its merits and is accessed alphabetically, yet each is fully cross-referenced, and attached to one of seven thematic categories whose ‘wholes' far exceed the sum of their parts
| Author | : Mick Silver |
| Publisher | : International Monetary Fund |
| Total Pages | : 89 |
| Release | : 2016-11-16 |
| Genre | : Business & Economics |
| ISBN | : 1475555296 |
Hedonic regressions are used for property price index measurement to control for changes in the quality-mix of properties transacted. The paper consolidates the hedonic time dummy approach, characteristics approach, and imputation approaches. A practical hedonic methodology is proposed that (i) is weighted at a basic level; (ii) has a new (quasi-) superlative form and thus mitigates substitution bias; (iii) is suitable for sparse data in thin markets; and (iv) only requires the periodic estimation of hedonic regressions for reference periods and is not subject to the vagrancies of misspecification and estimation issues.
| Author | : Kimberly Winson-Geideman |
| Publisher | : Routledge |
| Total Pages | : 296 |
| Release | : 2017-11-09 |
| Genre | : Business & Economics |
| ISBN | : 1315311119 |
The creation, accumulation, and use of copious amounts of data are driving rapid change across a wide variety of industries and academic disciplines. This ‘Big Data’ phenomenon is the result of recent developments in computational technology and improved data gathering techniques that have led to substantial innovation in the collection, storage, management, and analysis of data. Real Estate Analysis in the Information Age: Techniques for Big Data and Statistical Modeling focuses on the real estate discipline, guiding researchers and practitioners alike on the use of data-centric methods and analysis from applied and theoretical perspectives. In it, the authors detail the integration of Big Data into conventional real estate research and analysis. The book is process-oriented, not only describing Big Data and associated methods, but also showing the reader how to use these methods through case studies supported by supplemental online material. The running theme is the construction of efficient, transparent, and reproducible research through the systematic organization and application of data, both traditional and 'big'. The final chapters investigate legal issues, particularly related to those data that are publicly available, and conclude by speculating on the future of Big Data in real estate.
