High-Frequency Contagion between Aggregate and Regional Housing Markets of the United States with Financial Assets: Evidence from Multichannel Tests [0.03%]
基于金融资产的美国住房市场高频率传染性研究：来自多渠道证据的视角
Goodness C Aye,Christina Christou,Rangan Gupta et al.
Goodness C Aye et al.
This study examined contagion involving the aggregate and regional housing markets of the United States (US) with other asset markets using multichannel tests during the 2007-2008 global financial crisis based on a unique high-frequency, i....
Kelley Cours Anderson,Julia Freybote,Kerry T Manis
Kelley Cours Anderson
Virtual tours such as pre-recorded videos or self-guided virtual reality (VR) tours represent marketing strategies that agents can use to promote homes for sale. Assuming agents aim at maximizing their net commissions, we expect virtual tou...
Uncertainty Measures and Sector-Specific REITs in a Regime-Switching Environment [0.03%]
不确定性和基于行业的房地产投资信托基金在环境切换中表现
Sercan Demiralay,Erhan Kilincarslan
Sercan Demiralay
In this paper, we attempt to explore the effects of various uncertainty measures - namely, implied volatility (VIX), tail risk (SKEW), economic policy uncertainty (EPU) and partisan conflict (PCI) indices-, on U.S. REITs returns at sector l...
Does Bike Sharing increase House Prices? Evidence from Micro-level Data and the Impact of COVID-19 [0.03%]
共享单车的兴起会推高房价吗？——来自微观数据和新冠疫情的证据
Zhengyi Zhou,Hongchang Li,Anming Zhang
Zhengyi Zhou
With unique datasets, this paper studies the effects of dockless bike sharing on house prices. We find that in neighborhoods relatively far from subway stations, house prices increase with the usage intensity of shared bikes. This indicates...
Introducing "Focused Firms": Implications from REIT Prime Operating Revenue [0.03%]
“聚焦企业”：来自房地产投资信托基金主营业务收入的启示
Zifeng Feng,Peng Liu
Zifeng Feng
We examine the relationship between a firm's main business focus and its risk and performance, using the unique settings of U.S. equity real estate investment trusts (REITs). In this paper, a REIT's prime operating revenue ratio (POR) is me...
Examining the Cash-Only Price Discount and the Driving Forces of Cash-Only Transactions in the Housing Market [0.03%]
仅付现金的房价折扣及住房市场中只用现金交易的动力因素分析
Youngme Seo,Cynthia Holmes,Mark Seung Hwan Lee
Youngme Seo
This paper investigates the effects of cash-only transactions on residential property values before, during and after the financial crisis. Using a comprehensive database of residential property sales in Tallahassee, FL from 2006 to 2015 an...
Heterogeneous Effects of Mortgage Rates on Housing Returns: Evidence from an Interacted Panel VAR [0.03%]
房贷对房价影响的异质性证据：交互面板VAR模型估计结果
Robert Forster,Xiaojin Sun
Robert Forster
This paper develops a theoretical and empirical framework to assess the heterogeneous effects of mortgage rates on housing returns when accounting for the zero lower bound regime of the policy interest rate and local market supply and deman...
Zifeng Feng,Zhonghua Wu
Zifeng Feng
Using recently available GRESB ESG public disclosure data for REITs around the world, we examine how ESG disclosure is related to REIT debt financing and firm value. We find that REITs with higher levels of ESG disclosure have lower cost of...
Housing Risk and Returns in Submarkets with Spatial Dependence and Heterogeneity [0.03%]
具有空间依赖性和异质性的子市场中的住房风险和收益
P S Morawakage,G Earl,B Liu et al.
P S Morawakage et al.
Employing a recently developed panel econometric technique, first, we show that accounting for spatial dependence and heterogeneity yields more accurate risk factor coefficients and abnormal housing returns. Rather than systematic risks, id...
Health Crisis and Housing Market Effects - Evidence from the U.S. Opioid Epidemic [0.03%]
健康危机与住房市场效应——来自美国阿片类药物流行的证据
Walter D&#x;Lima,Mark Thibodeau
Walter D&#x;Lima
We present evidence on the effect of a public health crisis on housing markets through the lens of the recent opioid crisis in the U.S. Using data on opioid prescriptions and repeat sales in Ohio, we find that house price changes around opi...