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Even Fannie Mae and Freddie Mac should be made totally independent from the government. This should be followed up by other methods to increase the individual ownership of housing and at the same time reduce the costs of owning a house. Even if the housing sector cannot be made totally private, it is important that the government make statements saying that it has no intentions of supporting Fannie Mae and Freddie Mac any further, and at the same time, try to improve the operations of these two companies. This can be achieved by limiting the amount of debt that these regulatory deposit organizations can hold and also focusing clearly with the two institutions on the sections of the housing market where their activities would provide the best social benefits. (Fannie Mae, Freddie Mac, and Housing Finance: Why True Privatization Is Good Public Policy)
The weakness comes from the feeling that…
After the Housing Boom. 11 April, 2005. Retrieved at http://www.businessweek.com/magazine/content/05_15/b3928001_mz001.htm . Accessed on 30 April, 2005
Cederholm, Fred. Is the Housing Market Going to Crash? Retrieved at http://baltimorechronicle.com/033105Cederholm.shtml . Accessed on 30 April, 2005
Federal Home Loan Bank System. Retrieved at http://www.fhfb.gov/FHLB/FHLBS.htm. Accessed on 30 April, 2005
Housing' Direct Economic Impact. 2005. Retrieved at http://www.nahb.org/generic.aspx?sectionID=784&genericContentID=543Accessed on 30 April, 2005
Externalities in the Housing Industry (Additional Pages Request)
The housing industry is quite profitable a venture, though it is one that has caused many problems in today's economy, for two main reasons. First, the housing market has been quite volatile, simply because it has been under-regulated in certain areas and has therefore been the subject of a game of chess led by big corporations. Second, the housing industry is often a local matter, and is thus something that cannot be easily moved, transported, or transplanted, and for this reason it is in many ways unique. In order to better understand the way in which this industry works, this paper will discuss externalities, goods and services within this arena, as well as the many other concepts that relate to these terms.
Just as many other sectors of an economy, the housing industry is subject to positive and negative externalities.…
N.A. (2012). Market Failures and Externalities. Basic Economics. Retrieved January 22, from .
N.A. (2012). Private Goods and Public Goods. San Jose State University. Retrieved January 22, from .
Housing Market in China: A Critical Survey of the Literature
This is a critical survey of the literature on the state of housing market in China. It highlights the high and rising cost of housing in major markets, which have attracted worldwide attention, as well as the interest of the Chinese government. It is difficult to understand the Chinese housing market without delving into the background. In this regard, the paper also examines the housing reforms and the growth of housing sector in general. Furthermore, the paper looks at Price-to-rent ratios in Beijing and seven other major housing markets in China. The findings suggest that even simple declines in expected appreciation would result in substantial price declines in these markets. It concludes that Price-to-income ratios are at their peak in Beijing and some selected Chinese housing markets.
Since the beginning of People's epublic of China, most of the citizenry…
Ka Yui Leung, C., & Wang, W. (2007). An Examination of the Chinese Housing Market. International Real Estate Review, 131-165.
Bian, Y., & Logan, J.R. (1996). Market transition and the persistence of power: the changing strati-cation system in urban China. American Sociological Review, 739 -- 58.
Chan, K.W. (1994). Cities with invisible walls:reinterpreting urbanization in post-1949 China. Hong Kong: Oxford University Press.
Deutsche Bank . (2011). China's housing markets: Regulatory interventions mitigate risk of severe bust. Current Issues.
This draws a pattern of the land price model, concentric as one moves away from CBD.
An interesting element of the Japanese housing market system that is worth considering in terms of its impact on the housing market is the savings rate and savings behavior in Japan. Traditionally, the savings rate in Japan is high, with a population that is risk averse and tends to invest in instruments that have lower returns, but are also less risky. With that in mind, Noguchi and Poterba (1994) tend to support the idea, first of all, that the conditions of owned houses differ from those of rented houses, in that they are especially more spacious and with overall better amenities.
Second to that, there appears to be a clear relationship between geographical location and wealth accumulation, as determined by the savings levels in different regions. Households in larger conurbations, such as Tokyo, accumulated…
Baumgartner, U., Meredith, G., Kahkonen, J., Saving behavior and the asset price "bubble" in Japan: analytical studies, International Monetary Fund, 1995
Cecchetti, S.G., Asset prices and central bank policy, Center for Economic Policy Research, 2000
Hunter, W.C., Asset price bubbles: the implications for monetary, regulatory and international policies, MIT Press, 2005
Noguchi, Yukio; Poterba, James. Housing Markets in the United States and Japan. The University of Chicago Press. 1994.
China Housing Market
Starting with 2008, and deepening in 2009, the world has been facing an economic crisis, the severity of which has often assimilated with that of the depression between 1929 and 1933. At the beginning of the twentieth century, the major problems laid in overproduction, whereas the crisis of the twenty first century was constructed on the credit crunch, brought out by the subprime mortgages offered by the American banks. What is however common to both crises is the fact, that while emerged within the United States, they soon expanded to impact numerous other regions. The main element which allowed the Great Depression to expand to other regions was that, after the First World War, the United States became the creditor of the European regions suffering war losses. As the U.S. however faced financial challenges, they proved unable to any longer support the economic revival of the other…
Batson, A., April 2, 2009, China Housing Market Shows Signs of Life, The Wall Street Journal
2007, China to Raise Downpayment for Second Homes: Sources, Latest News and the Property Market in Singapore, http://sgpropertypress.wordpress.com/2007/09/19/china-to-raise-downpayment-for-second-homes-sources / last accessed on November 26, 2009
2007, European Real Estate in 2008: Spain and UK Deep into the Crisis / Eastern Europe near Housing Bubble Burst, Leap 2020, http://www.leap2020.eu/European-real-estate-in-2008-Spain-and-UK-deep-into-the-crisis-Eastern-Europe-near-housing-bubble-burst_a1511.html last accessed on November 26, 2009
2008, China Real Estate Market Faces Slump, NuWire Investor, http://www.nuwireinvestor.com/articles/looming-housing-slump-in-china-52103.aspx last accessed on November 26, 2009
(Der Hovanesian, 2010)
Increased Promotion of Discounted mortgages.
The way that subprime lending practices, and some call predatory lending practices affect the housing market has yet to be realized on such a large scale, as these tactics have always been carefully controlled by lending institutions, due in large part to their historical long-range view. Subprime lending on the other hand is fundamentally not a long-term view practice; it is a short-term tactic that is now being dealt with on a massive scale as foreclosures mount and more and more families see foreclosure looming in their future and more and more banks take on this debt, with the added burden of holding on to mortgages that far exceed the new depleted value of homes as the market corrects naturally from the housing bubble. The marketing for such subprime lending was absolutely saturated as nearly every individual was admonished to buy a…
"Construction. Country Profile. United States," the Economist Intelligence Unit Limited (2007), p42-43, Retrieved from Database Business Search Premier December 4, 2010: http://search.ebscohost.com/login.aspx?direct=true&db=buh&an=25830278&loginpage=Login.asp&site=ehost-live
Der Hovanesian, M. (2006). Nightmare Mortgages. BusinessWeek, (4002), 79-80. Retrieved from Business Source Premier database December 10, 2010 http://0-search.ebscohost.com.library.pcc.edu/login.aspx?direct=true&db=buh&an=22374294&site=ehost-live
Gopal, Prashant (November 29, 2007) Northeast Home Prices Remain Strong. Business Week Online, 11/29/2007, p1, Retrieved from Database Business Search Premier December 4, 2010: http://search.ebscohost.com/login.aspx?direct=true&db=buh&an=27673398&loginpage=Login.asp&site=ehost-live
Killelea, P. (Dec, 1, 2010) Housing crash continues -- it's a terrible time to buy an expensive house: Why? Retrieved December 10, 2010 from http://patrick.net/housing/crash.html
The fall in demand derives from the increase in gas prices, which has altered consumer spending habits and encouraged home buyers from buying in outer suburbs. Demand has also fallen because of the lack of easy credit and the high price of homes. Much of the rise was attributable to easy credit, reasonable home prices and low fuel prices. The reversal of these factors has resulted in a steep dropoff in demand, which is causing most of the decline in prices. One exception may be the outer suburbs, however. That is the area where new supply was being created, and so those areas had a large number of new homes constructed. This gives those regions a greater supply problem than inner suburbs. That is why prices have fallen much further in the outer suburbs than they have in the inner suburbs and city. These less desirable areas have suffered steep…
Vincent, Roger. (2008). Gas Prices Latest Worry for Housing Market. LA Times. Retrieved July 23, 2008 at http://www.latimes.com/business/la-fi-homes17-2008jun17,0,2766175.story
Showley, Roger & Pierce, Emmet. (2008). Housing Slump in No Hurry to End. San Diego Union-Tribune. Retrieved July 23, 2008 at http://www.signonsandiego.com/uniontrib/20080716/news_1b16housing.html
Hong, Peter. (2008). Bargain Hunting Picks up as Southern California Home Values Fall Further. LA Times. Retrieved July 23, 2008 at http://www.latimes.com/business/la-fi-homesales17-2008jul17,0,3250369.story
Vincent, Roger. (2008). Gas Prices Latest Worry for Housing Market. LA Times.
Future of the Housing Market
The housing crash that began in 2007 resulted in the worst economic catastrophe in the United States since the Great Depression of the 1930s, although few observers who realized that the bubble was about to burst truly understood the severity of the depression that would follow. In reality, it led not only to a collapse of the housing market but also to the failure of large banks, mortgage and insurance companies and very quickly to mass unemployment. The much touted service sector that was supposed to be the engine of the economy in the postindustrial age came to a grinding halt and had to be bailed out by the largest government expenditures since the Second World War. For a public that was accustomed to decades of rhetoric about the virtues of laissez faire and free markets, all this came as quite as shock, perhaps even…
Goodman, L.S. (2010). "Dimensioning the Housing Crisis" Financial Analysts Journal 66(3), May/June 2010, pp. 26-37.
Holt, J. (2009). "A Summary of the Primary Causes of the Housing Bubble and the Resulting Credit Crisis: A Non-Technical Paper" Journal of Business Inquiry 8(1), 2009, pp. 120-29.
Myers, D. And S. Ryo (2008). "Aging Boomers and the Generational Housing Bubble" Journal of the American Planning Association 74(1) 2008, pp. 17-33.
Vitner, M. And A. York. (2008). "How Far Will Housing Prices Fall?" ABA Banking Journal, August 2008, p. 56.
S. Department of Housing and Urban Development.
HouseHunt (2008), http://www.househuntnews.com/MC/North-Carolina/
Masnik, George and Zhu Xiao Di (2003), "A Sensitivity Analysis," HUD - U.S. Department of Housing and Urban Development.
National Association of ealtors, (2007), http://www.realtor.com/
North Carolina Housing Finance Agency (2007), "The State of Housing in North Carolina," www.nchfa.com/
iche, Martha Farnsworth (2003), "How Changes in the Nation's Age and Household Structure Will eshape Housing Demand in the 21st Century," PhD, HUD - U.S. Department of Housing and Urban Development.
The Economist (2007), "Surviving the Markets," August 18th, www.economist.com
US Census, www.census.gov
FED - Federal eserve "is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system" www.federalreserve.gov
ECB - European Central Bank "The ECB is the central bank for Europe's single currency, the euro. The ECB's main task is…
Chiswick, Barry and Paul Miller (2003), "Issue Paper on the Impact of Immigration for Housing," HUD - U.S. Department of Housing and Urban Development.
HouseHunt (2008), http://www.househuntnews.com/MCR/North-Carolina/
Masnik, George and Zhu Xiao Di (2003), "A Sensitivity Analysis," HUD - U.S. Department of Housing and Urban Development.
National Association of Realtors, (2007), http://www.realtor.com/
The defined market is the new housing market; initially in the United States, then slowly expanding into Canada, Mexico and from there into the international markets around the world. Wherever new houses are being built, a prospective market will exist. The initial market will concentrate on residential housing only, but within the first five years, the market will be expanded to include the commercial real estate new building market as well. The first markets to be penetrated will include flood prone areas only. The flood prone areas are areas around lakes, waterways, rivers and oceans. These areas comprise approximately 25% of the overall new housing market(s), therefore; research will be based on the overall new housing market in the United States at a 25% ratio, and then expand to include other countries who may or may not be calculated at the same percentage depending on flood areas for those…
Houston's large supply of land means that demand growth primarily results in more construction, not higher prices" (McCullagh & Gilmer, 2008).
However, it is important to realize that land supply is only one part of the reason that new home construction formed such a large part of the Houston housing market. Yes, Houston has more available surrounding land than almost any other major metropolitan area in the United States, but it also applies different rules to its surrounding areas, making development more of a possibility than in other areas:
In Houston, developers can create a munici-pal utility district, or MUD, to provide these [water, sewage, and drainage] services on their properties and can finance these with tax-free bonds. Houston requires developers to build MUDs in such a way that they eventually could be connected to the city's corresponding infra-structure, but they begin as self-sufficient enterprises.
In other cities, develop-ments must…
Amromin, G., Huang, J., Sialm, C., & Zhong, E. (2010, Oct. 31). Mortgage complexity and house price dynamics. Retrieved March 18, 2011 from University of Maryland Robert H. Smith School of Business Website: http://www.rhsmith.umd.edu/feaconference/docs/Session1SialmMortgage.pdf
Aydin, R. & Smith, B.A. (2008), Evidence of the dual nature of property value recovery following environmental remediation. Real Estate Economics, 36: 777 -- 812. doi: 10.1111/j.1540-6229.2008.00230.x
Bajari, P., Chu, C.S., & Park, M. (2010). An empirical model of subprime mortgage default from 2000 to 2007. Retrieved March 19, 2011 from the National Bureau of Economic
Research Website: http://www.nber.org/papers/w14625.pdf
Using a timeline from the peak of new housing construction to the present day, the following occurred. GDP growth slowed, followed by a three-quarter recession and slow growth has resumed on the other side of that recession. The unemployment rate skyrocketed, more than doubling in a short period of time, and has lingered at high levels for over a year. The rate of inflation fell well below the Fed's target rate, this despite aggressive expansionary monetary policy. The federal government, whose budget had previously oscillated between monthly surpluses and deficits, has been in deficit every single month -- and deeper deficits than every before -- as it has taken several fiscal policy measures to contain the economic damage. This evidence makes the clear case that steps should be taken to avoid a repeat of this housing crisis in the future, since the economic impacts are uniformly negative and in many…
US Census Bureau: New housing starts. Retrieved March 8, 2011 from http://www.census.gov/const/startssa.pdf
Bureau of Economic Analysis: Gross Domestic Product. Retrieved March 8, 2011 from http://www.bea.gov/national/index.htm#gdp
Bureau of Labor Statistics: Unemployment. Retrieved March 8, 2011 from http://data.bls.gov/pdq/SurveyOutputServlet-data_tool=latest_numbers&series_id=LNS14
Bureau of Labor Statistics: Consumer Price Index -- all Urban Consumers (all items less food and energy). Retrieved March 8, 2011 from http://data.bls.gov/cgi-bin/surveymost
Change must be imminent yet it is hard to know where it will come from as racial and economic inequity that leads to and sustains segregated housing remains multifaceted, with no universal answer that will touch on all issues. The program must be comprehensive and yet it cannot exclude grass roots efforts to improve the situation, either in racially segregated areas or within the whole community of the United States. Probably the most important message of any research at this juncture would be to responsibly inform the majority in a way that will hit home the reality of the continuation of racial segregation in housing and discrimination in general, as the end of the civil rights era is not even in sight even though many think it passed before they were born.
Bickford, Adam, and Douglas S. Massey. "Segregation in the Second Ghetto: Racial and Ethnic Segregation…
Differences in opinions between various study groups are expected to become apparent. These differences will help to determine the amount of bias present in opinions regarding housing discrimination among non-Irish nationals. Interpretation of these hypotheses will depend on the consistencies in opinion found between various groups.
The hypotheses will help to determine if the opinions of various groups in Dublin are biased. However, in order to gain a deeper understanding of the concepts being examined, the following research questions will also be explored, in addition to the hypotheses. These research questions will be addressed through specific sets of survey questions.
1. Are there differences in opinion regarding the quality of housing between Irish and non-Irish nationals living in Dublin?
2. Are non-Irish nationals well educated, at least as much as the Irish national population in Ireland?
3. Do non-Irish nationals deserve to become home owners, as much as…
Broman, C. (2002). Perceived discrimination and alcohol use among black and white college students. American Sociological Association. August 2002. Retrieved April 11, 2009
Central Statistics Office (CSO). (2008). Census 2006. Non-Irish National Living in Ireland. June 2008. Retrieved April 11, 2009 from http://www.cso.ie/census/..%5Ccensus%5Cdocuments%5CNON%20IRISH%20NATON
Kindleberger's premise is that psychological mechanisms, rather than actual economic realities, are at the basis of market phenomena and crises. According to the author's model, there are several steps within the cycle towards economic crises. The six stages he identifies can be applied to the current housing market, which seems to be in the process of reaching the stage of crisis.
The housing market, more than many other economic factors, is very dependent upon environment-specific factors. These are flexible according to elements such as reputation and maintenance issues. The psychological factor then plays a particularly important role in the housing market. Generally, homeowners expect to sell at a substantial profit. This factor then makes home buying an attractive investment option. It is however also true that the apparent profit made by the home seller is not necessarily a realistic outlook in terms of investment. When elements such as maintenance costs…
Tiny House: Target Market Analysis
The tiny house market for homes "typically between 100 and 500 square" has a wide demographic outreach in terms of its age range: "Millennials, who have limited funds and might not be able to afford a traditional mortgage because they have to pay off college loans; and Baby Boomers, who are retiring and seeking ways to stretch their pension by finding affordable homes" (Hyde n.d.). The concerns of both groups are strikingly similar. Idealistic Millennials embrace the environmental benefits provided by such homes and Baby Boomers are seeking to save money on utilities. However, demographically, the impressive size of the Millennial generation makes this an even more attractive potential target market: "By sheer numbers, the 75 million members of the millennial generation overtook baby boomers last year" (Lee 2016). Slice of Heaven's emphasis on the luxury market of tiny homes would allow both demographics to…
Hyde, R. (n.d.) Tiny house movement: Making market opportunities. Investopedia. Retrieved from: http://www.investopedia.com/articles/investing/092815/tiny-house-movement-making-market-opportunities.asp
Lee, D. (2016). Why millennials are staying away from homeownership despite an improving economy. The LA Times. Retrieved from: http://www.latimes.com/business/la-fi-0301-housing-economy-20160301-story.html
Patel, N. (2015). Tiny house, big benefits: Freedom from a mortgage and worries -- and stuff.
The Washington Post. Retrieved from: https://www.washingtonpost.com/lifestyle/magazine/tiny-house-big-benefitsfreedom-from-a-mortgage -- and-stuff/2015/06/23/f8f706f0-0acc-11e5-9e39-0db921c47b93_story.html
arket Analysis of House of Fraser
House of Fraser was founded in 1891 by James Arthur in Glasgow. Originally a drapery shop, the store quickly expanded and by the end of 1891, the entire Fraser family was investing in the company. At this point, the store was renamed to Frasers & Sons. Over time, the store expanded from selling draperies to selling clothing, shoes and other department store apparel.
The company has continued to grow through the purchase of smaller companies. In 2005, House of Fraser aquaired Jenner's department store and in 2006 it took over Baugur. In 2008, the company had three new openings in London, Belfast and Bristol. The company continues to grow and is a ripe competitor.
House of Fraser is ranked high in the market overall with its six major competitors being arks & Spencer, John Lewis, Harrods, Debenhams, Selfridges and Fenwick. John Lewis is by…
Mintel (2011), Department Stores Retailing-UK-March 2011, http://academic.mintel.com/sinatra/oxygen_academic//display/&id=545274
Office for National Statistics (2012), Consumer Prices Indices- RPI Annual Percentage Changes 1948 to 2011, http://www.ons.gov.uk/ons/datasets-and-tables/data-selector.html?cdid=CDKQ&dataset=mm23&table-id=2.2
Wikipedia (2012), House of Fraser, http://en.wikipedia.org/wiki/House_of_Fraser
Housing Support on Teenager Parents
Housing Support on Teenagers
The Impacts of Housing Support on Teenagers Parent in United Kingdom
UK leads Europe in teenage pregnancies in Western Europe with 35,966 conceptions in the under 18s in 2009. Majority of these unplanned pregnancies are the cause and consequence of social exclusion in UK. (UNICEF, 2001) There are 90K teenagers under 20 years and 8k under 16-year's pregnancies in England each year; it is the highest rate in Western Europe (SEU, 1999).
Teenage pregnancy can take place before first menstrual period (12or 13 years), which can result into pregnancy but usually occurs between 13 to 20 years of age. The National Health Services spends over £63 million a year on teenage pregnancies in UK. (Dennison, 2004).
Teenage parenthood is a serious social problem; it has adverse effects on parents and children. These young mothers have greater chances of being poor, less…
Botting, B., Rosato, M. And Wood, R. (1998). Teenage mothers and the health of their children. ONS Population Trends 93: 19-28.
Dennison, C. (2004) Teenage pregnancy: An overview of the research evidence, London: Health Development Agency.
DfES (2006a)"Teenage Pregnancy: Accelerating the Strategy to 2010," DfES, Nottingham.
James R. Rest (1986), "Moral Development Advances in Research and Theory," published by Praeger, New York.
It is however important to come up with an integrated proactive management of real property in order to cover most of the risks that affect this market sector.
The requirement for the integrated property management
So as to achieve the required alignment between the strategic decisions of a business and other elements like the organization structure, enabling physical environment and work processes, it is necessary that organizations come with clear methods of managing their property. Proactive management of real estate/corporate property is one of the ways of ensuring that the property is not at risk. It however demands that very clear strategic positions are taken by senior management with clarity of the expected deliverable in measurable terms.
Fig.2 Proactive real estate management
Source: Then (1996).
The market value of commercial property has been fluctuation over time. The last three years has however seen it suffer a heavy hit…
Appraiser BC Appraisals Inc. What is a cost approach appraisal method http://www.bcappraisalsinc.com/faq/what-is-a-cost-approach-appraisal-method.html (2011).
Deutsche Bank. Real estate markets still in grip of financial crisis (2008)
Forsyth, S. Why the Market Value of Commercial Property Can Rise & Fall Over Time.(2010)
Additionally, the creation of a trust fund for housing could help to alleviate some of the economic burden on developers in Los Angeles. As compared to other major metropolis' such as San Jose, New York, and Chicago, Los Angeles uses the least amount of federal block grant funds on affordable housing on a per person basis, with just $23 per resident (In Short Demand). In addition to adopting an inclusionary zoning ordinance, the city should also implement an in-lieu fee to help fund it. Such a fee could be an alternative method to the institution of including an affordable unit in new developments, and could be directly applied to a housing trust fund. Estimates indicate that a $7 per square foot in-lieu fee would produce a surplus of upwards of $20 million a year, and could be used to remedy the housing shortage that not only affects Latinos, but other…
Kushner, James. Gov. Discrimination: Equal Protection Law & Litigation. Eagan: Clark Boardman Callaghan, 2008. Print
Los Angeles Housing Department, "Program Components -- City of Los Angeles Inclusionary Zoning Ordinance. 2004. Web. http://cityplanning.lacity.org/Code_Studies/other/ProposedICPolicyMatrix.PDF
Los Angeles Housing Department. In Short Supply: Recommendations of the Los Angeles Housing Crisis task Force. 1999. Web. http://www.ci.la.ca.us/lahd/shrtsup2k.PDF
Liu, Cathy. "Ethnic Enclave Residence and Employment Accessibility of Latino Workers in Chicago, Los Angeles, and Washington D.C." University of Southern California, 2008. Web. http://www.usc.edu/schools/sppd/lusk/research/pdf/wp_2008-1001.pdf
Others, who are perhaps a little older and beginning to feel the effects of older age and the onset of related health conditions, prefer retirement communities. Here they can retain a relatively independent life for as long as possible, while still having access to health, transport, meals, and other assisting services they might need.
In terms of housing, a number of options have therefore begun to evolve for older people who prefer not to enter institutional care if they can avoid it. It is therefore important for agencies and professionals who work with older people to establish which the best fit would be for each individual client involved. Not all older people, for example, can afford assisted care, as this tends to be towards the more expensive end of the market.
Another important component of environmental fit is transport. Transport, to an older person, could mean various things. Most importantly,…
American Society for Interior Designers. (2012). Design for Aging. Retrieved from: http://www.asid.org/designknowledge/aa/inplace/
NAIPC. (2012). Age in Place. Retrieved from: http://www.ageinplace.org/
Niles-Yokum, K. And Wagner, D.L. (2011). The Aging Networks: A Guide to Programs and Services. New York: Springer Publishing Co.
NOWCC. (2011). National Older Worker Career Center. Retrieved from: http://www.nowcc.org/home
To ensure that none of this was taking place, many state regulatory commissions would set prices and monitor the industry. Then, during the 1980's is when deregulation would occur, as many economists felt that they were stifling economic growth. As a result, the different laws were changed, allowing for electric producers to have greater freedoms in: setting prices and determining how it would be distributed. With a host of electric companies, beginning to own others producers in different states and they began to actively trade it. This is important, because it shows how the overall level of government regulation would be reduced. Yet, the various state regulatory commissions would still be able to maintain oversight and control inside their borders. As a result, there was a reduction in the overall amount of regulations, while allowing certain controls to remain in place. When you put these different elements together, this meant…
Aharoni, Yair, 1997, 'Government Intervention in Services,' Changing Roles of State Intervention, State University of New York Press, Albany, pp. 3- 24.
Griffin, James, 2005, 'Electricity a Natural Monopoly,' Electricity Deregulation, University of Chicago Press, Chicago, pp. 2-5.
Klein, Jeffrey, 1996, 'Shall the Elite Inherit the Earth,' Mother Jones Magazine, pp. 3 -- 6.
Harvard Format. http://libguides.library.uwa.edu.au/data/files2/49275/Harvard%20LibGuide%20-%20All%20Examples%20PDF.pdf
Specification of Thesis's Main Point:
Goldman (2009) surmises that today's economic crisis has changed many aspects of financial reporting, one of which is the calculation of the cost of capital.
Three Supporting Opinions/easons:
Utilizing much of his own personal, professional experience as well as other sources, Goldman's (2009) three supporting opinions all highlight the impact today's economic crisis has had. He quotes Marc Panucci, an SEC associate chief accountant, in his first supporting opinion. Panucci agrees with Goldman's theory that the turbulent economic environment of today requires changes to existing disclosures, in order to meet disclosure requirements. This is especially true when meeting disclosure requirements in liquidity, risks and uncertainties, and credit risks.
The Internal evenue Service is Goldman's (2009) second supporting source. Not known for their empathy, the IS has eased rules so that homeowner's facing tax liens can sell or refinance their homes. In fact, in some instances,…
Goldhorn, M. (Jan/Feb 2009). Market turmoil require new ways to build capital. The Value Examiner. pp. 23-30.
These high costs will lead to a considerable decrease in the amount of investments in the housing market and will decrease the demand for real estate.
3. Elasticity of interest rates
The elasticity denotes whether or not the interest rate curve can be moved from a point to another and adjusted to the market requests based on the demand and supply for housing loans. The elasticity of the interest rate has been widely discussed by specialized economists, their opinions on the subject varying. In 1998, economists Robert liss and David Smith concluded that "the elasticity of interest rate volatility, the coefficient linking interest rate volatility to interest rate levels, is 1.5.." Furthermore, in regard with the highly elastic interest rates and low elastic interest rates, the two economists stated that "a moderately elastic interest rate process can capture the dependence of volatility on the level of interest rates, while highly…
Bliss, R.R. And Smith, D.C., 1998, The Elasticity of interest rate volatility: Chan, Karolyi, Longstaff, and Sanders revisited, Federal Reserve Bank of Atlanta, Working Paper 97-13a
Wikipedia, The Free Online Encyclopedia, November 2006, Interest Rate, http://en.wikipedia.org/wiki/Interest_rate,last accessed on November 25, 2006
Bliss, R.R. And Smith, D.C., 1998, The Elasticity of interest rate volatility: Chan, Karolyi, Longstaff, and Sanders revisited, Federal Reserve Bank of Atlanta, Working Paper 97-13a
prohibitively rising cost of housing in Rhode Island has affected both the nuclear and extended family. Rising housing costs may force family members to move to less expensive areas, causing a breakdown in both extended and nuclear family structure. However, this may be balanced by the increased tendency of young adults, who cannot afford the high housing costs in Rhode Island, to live at home.
Certainly, data outlined below indicate that the housing crisis in Rhode Island is very real and immediate. Individuals across Rhode Island society are beginning to feel the constraints of the difficult housing market, and low-income individuals are feeling the greatest strain.
Given that federal and private agencies are unable to keep up with the increasing demand for housing assistance for low-income residents, the housing crisis will only continue to grow. As a result, the pressures of the nuclear and extended family are not expected to…
Arditi, Lynn. House prices in R.I. soar in 2nd quarter. Low mortgage rates and a sluggish stock market promote heavy interest in real estate.
07/30/2002. The Providence Journal (projo.com). 30 October 2002. http://www.projo.com/news/content/projo_20020730_rhouse30.24270.html
Economic Research Service. County-level population data for Rhode Island. 30 October 2002. http://www.ers.usda.gov/Data/Population/PopList.asp?ST=RI&LongName=Rhode%20Island
Economic Research Service. Rhode Island State Fact Sheet from USDA/ERS. 30 October 2002. http://www.ers.usda.gov/StateFacts/RI.htm
In this regard Pindell advises, "The city is a place in which diverse groups, distinguished by income, race, or other characteristics, engage in a competition for space. For some, efforts within the competition are focused on excluding certain populations. Suburban communities incorporate to separate themselves from cities; some individuals live within the protections of gated communities, and some localities engage in zoning practices designed to limit housing opportunities for low-income individuals" (p. 436). To help overcome these constraints to low-income housing developments, the World Bank recommends that to improve public investment (which affects productivity and therefore Brazil's economic performance), the government of Brazil should reform local master planning and subdivision regulations, building codes and zoning ordinances in an effort to increase the supply of land available for low-income housing projects (Brazil: Equitable, competitive, sustainable, contributions for debate, 2003). While the debate over how best to resolve the problems related to…
Black's law dictionary. (1991). St. Paul, MN: West Publishing Co.
Byrne, J.P. & Diamond, M. (2007). Housing, land tenure, and urban policy: The matrix revealed. Fordham Urban Law Journal, 34(2), 527-528.
CIA world factbook. (2009). [Online]. Available: https://www.cia.gov/library/publications/the-world-factbook/index.html .
Clarke, C. & Howard, D. (2006). Contradictory socio-economic consequences of structural adjustment in Kingston, Jamaica. The Geographical Journal, 172(2), 106-107.
This is one of the biggest causes that contributed to the financial crisis. Where, the lack of ethical standards within the industry, helped to cause a number of executives from: loan officers to real estate appraisers, to engage in predatory and illegal lending tactics. Where, many would falsify the income, credit histories or out right lie to borrows about the mortgages they were receiving, along with the terms. This perpetuated the crisis as millions of bad loans were given to borrowers who did not qualify or could not afford the mortgage, if there was a change in interest rates or the economic landscape. ("Financial Reform") to prevent this situation in the future, the regulation of the entire real estate industry should fall under the jurisdiction of the federal government. Where, the SEC or the Federal Reserve could oversea the proper training standards in the industry. Under this kind of system,…
"Financial Reform."New York Times. 2010. Web. 21 May 2010.
"Record Number of Foreclosures in 2009." International Business Times. 2010. Web. 21 May 2010.
Finney, Denise. "Mortgage Fraud." SF Gate. 2010. Web. 21 May 2010.
Phillips, Matthew. "The Monster that Ate Wall Street." Newsweek. 2008. Web. 21 May 2010.
China's Urban Housing Development -- a Shift from Welfare Housing to Home Ownership
The challenge of housing in China has been on the national agenda for more that four decades now. A lot of efforts have been directed by the government to help solve the challenge and it has substantially achieved a significant mileage. This paper will delve into the policies informing the urban housing reforms, the evolution that the housing reforms has undergone over the years, the challenges it faced, the current situation of China in terms of housing and also discuss the trend that are prevalent in China and what the government is currently doing to ensure the dream of housing for every China citizen is achieved.
Overview of housing reform agenda
The landscape of China as a whole has been undergoing several changes and shifts in the political, social and the economic aspect of it. This prompted…
Hui X., (2009). The Chinese Hoiusing reform and the Following New Urban Question. Retrieved April 2,2015 from http://newurbanquestion.ifou.org/proceedings/3%20The%20Urbanized%20Society/full%20papers/B008_Xiaoxi_The%20Chinese%20Housing%20Reform%20and%20the%20following%20New%20Urban%20Questions-fullpaper_revised.pdf
Liu Z. & Mei C., (2013). Experiment-based Policy Making or Conscious Policy Design? The Case of Urban Housing Reform in China. Retrieved April 2,2015 from http://www.icpublicpolicy.org/IMG/pdf/panel_11_s1_mei_liu.pdf
Yang Z. & Chen J., (2014). Housing Affordability and Housing Policy in Urban China. SpringerBriefs in Economics. Retrieved April 2,2015 from http://www.google.co.ke/url?sa=t&rct=j&q=&esrc=s&source=web&cd=4&cad=rja&uact=8&ved=0CDYQFjAD&url=http%3A%2F%2Fwww.springer.com%2Fcda%2Fcontent%2Fdocument%2Fcda_downloaddocument%2F9783642540431-c2.pdf%3FSGWID%3D0-0-45-1440212-p176464947&ei=R80fVZDVG4XVaoCXgdgE&usg=AFQjCNEhb1RhJuJyvxM0gC1oOaTU9ocbJA&sig2=vA52GOb75JR6iaesZq0cRQ&bvm=bv.89947451,d.bGg
Youqin H., (2013). Lack of Affordable Housing Threatens China's Urban Dream. Retrieved April 2,2015 from https://www.chinadialogue.net/article/show/single/en/6365-Lack-of-affordable-housing-threatens-China-s-urban-dream
" (Shiller, 6)
It is important to understand that institutional reforms imply providing a robust framework wherein our financial markets and real estate could function. egardless of how powerful as well as "technologically sophisticated the train is, it is only as good as the track on which it runs." (Shiller, 7) Insurance, regulatory as well as pension institutions are metaphorically the track which carries our real estate and financial markets. However these prevailing institutions dealing with risk-management have become aged as well as unstable. Figuratively, we are 'running bullet trains' on the old tracks. Our policy makers in government as well as in the business need to renovate and remove the rails. The solution in sub-prime relates to institutional reforms: 'the vision to' look over 'short-term fixes' and the guts to embark on reforms at the apex level. (Shiller, 7-8)
The 'mortgage mess' caught the public attention wherein a…
Bianco, Katalina. M. The Sub-prime Lending Crisis: Causes and Effects of the Mortgage
Meltdown. 2008. http://business.cch.com/bankingfinance/focus/news/Subprime_WP_rev.pdf
Davis, Kevin. Enhancing Risk Management and Governance in the Region's Banking System to Implement Basel II and to Meet Contemporary Risks and Challenges Arising from the Global Banking System: Lessons from the Sub-Prime Crisis. Training Program. 8-12 December 2008. http://www.apec.org.au/docs/08_TP_BRM/2.2_Davis.pdf
Felsenheimer, Jochen; Gisdakis, Philip. Credit Crisis.
The largest majority of subprime housing property has been noted in this study to be located in minority and low-income neighborhoods and therefore the subprime lenders are flooding the housing markets and specifically the low-income housing market with housing in neighborhoods that generally do no bring healthy prices on the housing market. With the housing market flooded with this class of housing the properties values of these homes will be pushed even lower and this with interest rates simultaneously at their lowest possible rate. In fact, what has resulted from subprime lending practices is the lenders worst nightmare in that prices are very low, interest rates are very low, and prospective buyers are very low as well.
Isidore, Chris (2008) New Recession Worry: ank Failures - Recession Watch 2008. 3 March 2008. Online available at http://money.cnn.com/2008/03/03/news/economy/bank_failures/index.htm?ref=patrick.net
Goldman, David (2008) Fed Officials: Housing Crisis Critical. Eyes on the Fed -CNN…
Isidore, Chris (2008) New Recession Worry: Bank Failures - Recession Watch 2008. 3 March 2008. Online available at http://money.cnn.com/2008/03/03/news/economy/bank_failures/index.htm?ref=patrick.net
Goldman, David (2008) Fed Officials: Housing Crisis Critical. Eyes on the Fed -CNN News 29 Feb 2008. Online available at http://money.cnn.com/2008/02/29/news/economy/fed_speeches/index.htm?postversion=2008022912
U.S. files New Lawsuit Against Countrywide (2008) Reuters News Service 4 Mar 2008. Online available at http://www.reuters.com/article/bondsNews/idUSN0452271620080304
Weil, Judy (2008) Housing Market Tracker - What will Replace Subprime Lenders. 28 Feb 2008. Seeking Alpha. Online available at http://seekingalpha.com/article/66562-housing-market-tracker-what-will-replace-subprime-lenders
The term "adjustable-rate mortgage" describes any mortgage with an interest rate and payments that adjust according to some formula agreed upon by the borrower and lender. ARMs have been generally available to borrowers for about three decades on prime mortgages, but variants have been common to subprime mortgages over the past 10 years. The traditional ARM linked the mortgage's interest rate to the LIOR plus several percentage points." (Utt,2008)
Alt -- a Mortgages. Sometimes referred to as a "low-doc" mortgage, an Alt -- a mortgage is structured like the other mortgages described in this section but is made available only to prime borrowers or those with FICO scores above 660. However, these prime borrowers were required to offer only limited documentation on their qualifications, so many may not have been as "prime" as they represented themselves to be, as subsequent default rates indicate." (Utt, 2008)
Extremely Low- or No-Down-Payment Mortgages.…
Utt, Ronald D. (2008) the Subprime Mortgage Market Collapse: A Primer on the Causes and Possible Solutions. Backgrounder 2127 the Heritage Foundation. Online available at http://www.heritage.org/research/economy/bg2127.cfm
The Subprime Mortgage Market (2008) National and Twelfth District Developments. Federal Reserve Bank of San Francisco. Online available at http://www.frbsf.org/publications/federalreserve/annual/2007/subprime.pdf
Chomsisengphet, S. And Pennington-Cross, a. (2006) the Evolution of the Subprime Mortgage Market. Federal Reserve Bank of St. Louis (2001) Online available at> http://research.stlouisfed.org/publications/review/06/01/ChomPennCross.pdf
Even though the housing market is slowing, the article speculates that it may take six to eight months before sellers accept that the market has softened and reduce their prices. This demonstrates the economic theory that the supply relationship is a factor of time. Suppliers do not always react quickly to a change in demand or price, but eventually they must. The article suggests that demand will decline 3.5% next year, but that median home prices will still increase by 5%.
Suppliers are beginning to react to falling demand through a decline in price increases and incentives which are really indirect price decreases. That's why this is referred to as a "cooling off" period in the article which mentions that some condo buyers are being offered a car to make a purchase of a condo. The use of incentives may be viewed by the suppliers as a way to mask…
Arnold, Roger A. (2005) / Economics, 7th Edition; South-Western Publishing.
Hagerty, J.R. And Simon, R. (2005, November 15). Housing market shows further signs of cooling. Wall Street Journal. Retrieved from Web site: http://www.realestatejournal.com/buysell/markettrends/20051115-hagerty.html
Housing demand is elastic. (2006, March, 8)
Hansel & Krahnen (2007) conducted a study that noted the equity beta of banks engaged in the marketing of CDOs increased relative to banks that did not market CDOs. This again highlights the risk associated with CDOs, especially given that the impact on the firm's beta was more pronounced in smaller, less well-capitalized banks.
hile CDOs introduced more risk into the banking system, they also encourage more risk in the credit markets. CDOs accomplished this by providing a secondary market for credit assets. There was only a limited secondary market for low-grade corporate debt and for subprime mortgages prior to the rise of CDOs (Deng, Gabriel & Sanders, 2008). The increase in the amount of subprime loans granted in the U.S. correlates with an increase in the availability of a secondary market for such debt in the form of CDOs. In turn, this encourage the adding of more subprime debt…
Barnett-Hart, a. (2009). The story of the CDO market meltdown: An empirical analysis. Harvard College. Retrieved May 1, 2011 from http://www.hks.harvard.edu/m-rcbg/students/dunlop/2009-CDOmeltdown.pdf
Deng, Y.; Gabriel, S. & Sanders, a. (2008). CDO Market implosion and the pricing of CMBS and sub-prime ABS. Real Estate Research Institute. Retrieved May 1, 2011 from http://www.reri.org/research/article_pdf/wp150.pdf
Hansel, D. & Krahnen, J. (2007). Does credit securitization reduce bank risk? Evidence from the European CDO market. Gothe University Frankfurt. Retrieved May 1, 2011 from http://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID967430_code120211.pdf?abstractid=967430
Lannin, S. (2011). Lehman expected CDO market to worsen. ABC News. Retrieved May 1, 2011 from http://www.abc.net.au/news/stories/2011/03/22/3170054.htm
Defense of the Fed's New Interest-ate Policy, which was published by The Wall Street Journal on January 6th, 2013, financial reporters Frederic S. Mishkin and Michael Woodford carefully craft a justification of the Federal eserve's latest revision to its federal-funds rate target. The purpose of the article is to inform readers about the Fed's recent Federal Open Market Committee (FOMC), which resulted in the decision to keep the federal-funds rate near zero with a contingency based on the national unemployment and inflation rates. By linking the federal-funds rate target to a baseline of 6.5% unemployment, and a predicted rate of 2.5% inflation, while also providing public notice regarding its previously private policy criteria, the Fed is renewing its efforts to stabilize an economy battered by a prolonged recession. As Mishkin and Woodford state in the article, this "commitment not to raise rates in the future as soon as might have…
Mishkin, F.S., & Woodford, M. (2013, January 06). In defense of the fed's new interest-rate policy. The Wall Street Journal. Retrieved from http://online.wsj.com/article/SB10001424127887324274404578211832381399400.html
Yoon, A. (2013, January 28). Private mortgage market gains momentum after the crisis. The Wall Street Journal. Retrieved from http://online.wsj.com/article/BT-CO-20130128 - 711413.html
The market structure of the retail industry is that of monopolistic competition. As its name suggests, monopolistic competition is an environment composed of a large number of firms each with a portion of the market. The firms in this type of market structure have similar products but they are differentiated in some way. Nordstrom's for example has private brands that only Nordstrom's can carry. These brands include Hotel Collection sheets, Martha Stewart cookware, Psycho Bunny for men, INC brand clothes for women, and much more. Even though these product offerings may be similar to competitors in regards to color or value proposition, they are differentiated by the fact they are only offered at Nordstrom's locations. Furthermore, there are many firms competing within the retail environment. For example, Nordstrom's must compete with JC Penny, Target, Wal-Mart, Dillard's, Sears, internet stores, and many other outlets. All of these competitors…
9) Thau, Barbara. "Macy's Doubles Down on Its 'Omnichannel' E-Commerce Future." DailyFinance.com. 23 June 2011. Web. 24 Feb. 2012. .
10) Wahba, Phil. "Sears Closing More Stores as Holiday Sales Slide." Reuters. Thomson Reuters, 27 Dec. 2011. Web. 24 Feb. 2012. .
11) Kaplan, Stephen. "Capital Ideas - The Evolution of U.S. Corporate Governance." The University of Chicago Booth School of Business - Business School, Full-time, Part-time, Executive MBA Programs. Web. 13 Jan. 2012. .
China for instance, which was more protective and where the government was more involved in the regulation of the financial sector, feels the economic repercussions to a lesser degree (Batson, 2009).
3. Avoid over-inflation of prices
The root cause of the sub-prime mortgages was the necessity for people to buy houses at unrealistically high prices. As a future recommendation then, better controls should be instated not only within financial markets, but within all sectors. The scope of these controls would be that of ensuring that the retail prices implemented, within the real estate sector as well as in any other industries and sectors, are realistic and pegged to the true costs.
4. ecognition of mistakes (or their possibility) and acceptance of the role of others
The United States perceives itself as the most powerful and developed nation, which it is, but we do seem overzealous at times and do not…
Batson, a., April 2, 2009, China Housing Market Shows Signs of Life, the Wall Street Journal
Makin, J.H., 2009, Three Lessons from the Financial Crisis, American Enterprise Institute for Public Research, http://www.aei.org/outlook/100067 last accessed on March 1, 2010
Truman, E.M., 2009, the Global Financial Crisis: Lessons Learned and Challenged for Developing Countries, Peterson Institute for International Economics, http://www.iie.com/publications/papers/paper.cfm?ResearchID=1240 last accessed on March 1, 2010
Macro-Forecast: Continuing Crisis in Housing
Macro-Forecast of Current Events:
Continuing Crisis in U.S. Housing Market
Macro-Forecast of Current Events: Continuing Crisis in U.S. Housing Market
ecent, startling revelations about unethical foreclosure procedures may delay the resolution of thousands of troubled mortgage loans in the U.S. And are quickly becoming a risk for the housing market, and the U.S. economic recovery overall. The breadth of the problem is uncertain, in terms of the amount of loans involved and the period of time it will take to resolve the issue. Given this macro-economic market uncertainty, it is likely that the outlook for housing prices in the U.S. will continue to decline with a bottom expected in the third quarter of this year.
For this paper, I employ a computable general equilibrium (CGE) model. Like the Dynamic stochastic general equilibrium models (DSGE) models, CGE models are often micro-founded on assumptions about preferences, and…
1. Computable general equilibrium modelling for policy analysis and forecasting, PB Dixon, Handbook of Computational Economics, 1996
2. U.S. Housing After the Foreclosure Mess, By Celia Chen and Chris Lafakis in West Chester, October 19, 2010, Moody's Analytics.
2 | Page
In a field like housing construction, whether it is tradition or green, human resources have the highest importance. Their quality and experience is reflected in the quality of the houses they build. Smaller construction companies cannot afford the highest skilled personnel, which creates a major disadvantage.
It is difficult to say whether these companies are financially sound or not on medium term and long-term. The financial investments required by constructions and the financial sustainability of these companies on long-term suggest that there are no financial difficulties affecting large construction companies.
But these companies are also subjected to the economic and financial crisis and also to the fluctuations of the market. Financial possibilities of customers have a direct influence on the financial performance of construction companies. Given the global market conditions, it is expected that the incomes of construction companies will decrease.
The success strategy of large construction companies is a…
1. Carlton, J. (2007). While Housing Withers, Green Materials Bloom. The Wall Street Journal. Retrieved April 23, 2009 from http://news.mongabay.com/2007/0221-wsj.html .
2. McLaughlin, B. (2007). Green Housing Market Boom Expected. Associated Content. Retrieved April 23, 2009 from http://www.associatedcontent.com/article/423583/green_housing_market_boom_expected.html?cat=3 .
Marketing Plan for a KW Service Designed to Generate New Clients
The product idea for this marketing plan is a service that Keller Williams could provide to potential home buyers/investors that no other competitor is currently offering: that is, free educational classes for the public about the process of buying, investing, owning, keeping up or rehabbing houses. The purpose of this service would be that it draws potential clients into the office and generates leads for agents working within the office.
Keller Williams is a national real estate brokerage with offices in districts around the U.S. The office branch of Keller Williams for this marketing plan is located in Houston, Texas, which is the "home" of Keller Williams -- the place where the brokerage began.
The problem that this service would target is the problem that a lot of new home buyers often experience, which is that they…
Abram, C., Pearlman, L. (2012). Facebook for Dummies. NJ: Wiley and Sons.
Baloun, K. (2006). Inside Facebook. CT: Baloun Publications.
Collis, D., Rukstad, M. (2008). Can you say what your strategy is? Harvard Business
Review (April): 82-90.
Home Depot Inc., alone increased its distribution presence to 1.5 million square feet at indham Lakes Business Park in Romeoville after signing a lease for all of indham Lakes VII, a 720,000 square foot spec building at 1070 indham Parkway. (Dubriwny, 2004)
This renewed investor interest in Chicago is also due to the fact that such commercial, industrial real estate in the area are becoming perceived as foreign investor friendly, and relatively stable in comparison to other locations -- an excellent combination and a prescription for long-term expansion. (Dubriwny, 2004) Furthermore, although companies such as Home Depo, Inc. may have been much maligned in recent years, they are critical in drawing so-called anchor stores to large, enclosed malls and shopping districts. (Smith, 2005) Shoppers will go out of their way to go to such commercial locations, and the Chicago commercial market is becoming more open and attractive to such brand…
Dubriwny, Dana. (11 Mar 2005) "On the Road Again."
REJournals.com. Retrieved 11 Mar 2005 at http://www.chicagoindustrialproperties.com/story.cfm?Market=CIP&StoryID=13301
Smith, Ray. (2005) "Retail REITs Must Broaden Their Focus." The Wall Street Journal. Retrieved 11 Mar 2005 at http://homes.wsj.com/columnists_com/buildingvalue/20050308-buildingvalue.html
Soto, Virginia. (2004) "Bill Rancic, you're hired." About.com. Retrieved 11 Mar 2005 at http://chicago.about.com/cs/event1/a/041504_app.htm
Moral Criticism of the Market
I disagree with the author's major premise and conclusion. He contradicts himself by suggesting that the basis of his support for a free market is that it depends on offering something of value to others and that the problem with the dynamics of commercial advertising lies primarily with the individual. The reality of the advertising industry is hardly that it merely increases public "awareness" of available products. In fact, the main effort of commercial advertising is precisely to create the perception of need, even (or specifically) where it is illusory. To use the author's example, by the time someone covets a Mercedes that he sees driving past him on the street, he has already been inundated by years of explicit and implicit messages that the Mercedes symbolizes respect and achievement.
The fashion industry provides an even better example because it no longer exists to fill…
Housing Bubbles Contagious?
Like the sudden collapse of publically traded internet technology stocks in the year 2000 which was its predecessor, the speculative real estate bubble that peaked in 2006 and deflated with such sudden and devastating scope was viewed by many as a calamitous, but largely unforeseeable, confluence of catastrophic economic circumstances. Economic theorists and other researchers have begun the arduous process of debunking that self-perpetuating myth, however, by precisely analyzing the complex network of financial, social and political variables which dictate the artificial inflation, and resulting drastic deflation, of residential property prices. Mary iddel, an associate professor in the University of Nevada, Las Vegas' Department of Economics, recently authored a report examining concept of interconnectedness between neighboring urban centers entitled Are Housing Bubbles Contagious? A Case Study of Las Vegas and Los Angeles Home Prices. Published in the scholarly journal Land Economics, iddel's comprehensive study of the intricate…
Riddel, M. (2011). Are housing bubbles contagious? A case study of las vegas and los angeles home prices. Land Economics, 87(1), 126-144. Retrieved from EBSCOHost database.
Samsung Cell Phone Market Segmentation
Samsung cell phones have a competitive advantage over most competitors based on the outstanding characteristics such as the apps support, size, the weight, the ability to retain the charge, the number of games it supports, the possibility of paying for gams and install, the aesthetics, the internal memory and the camera quality among other things.
The Samsung cell phone will target two main segments; the trendy young professionals getting into the job market and secondly, the professional middle aged men with a few years of experience in the job market.
Geographic variables in this market segmentation include the rural areas as well as the urban regions where the population is high. These are areas where both the young professionals and the middle aged professionals can be found establishing themselves in various employment sectors or setting up their own businesses.
Psychographic variables considered here are…
Zincubate, (2015). 5 Great Phones for a Young Entrepreneur. http://zincubate.com/5-great-phones
Integrated Marketing Communications
Integrated marketing communication strategy is a great manner for a company's brand to specifically lay emphasis on the consumers. Apple Inc. uses integrated marketing communication (IMC) so as to communicate with its target market. The communication plan of the company is modified with regard to the target market, the product position and the society in overall. Apple Inc. in determined to be close to its consumers by providing quality and increasing its brand awareness to its consumer base. The company uses social marketing to generate emotions and relationships with consumers. For instance, the company comes with innovative products, such as the iPhone and iPad to increase the user experiences of the consumers. Some of the tools of IMC employed by the company include: interactive or internet marketing, direct marketing, advertising, sales promotions and also public relations. In general, Apple Inc. is largely focused on increasing…
Ang, L. (2014). Integrated Marketing Communications. Cambridge: Cambridge University Press.
Hanlon, A. (2013). The AIDA Model. Smart Insights. Retrieved 14 November 2015 from: http://www.smartinsights.com/traffic-building-strategy/offer-and-message-development/aida-model/
Shrimp, T. (2010). Advertising Promotion and Other Aspects of Integrated Marketing Communications. Ohio: South Western Cengage.
Market Revolution: hy it as Good for Some, Not for Others
The Market Revolution of the 19th century could not have occurred without the Age of Industrialization that allowed it to displace the old mode of commerce and trade. Goods could now be produced en masse and shipped at far faster speeds than ever before. hat had once been the work of the domestic role players was not taken out of their hands and made the work of laborers in factors. In every sector, technology played a part -- the cotton gin, the furnaces, the steel mills, the meat packers, the freight trains -- the landscape of America was changing and life and its social, spiritual, economic and political characteristics were also being impacted as a result. For some the impact was positive -- but for others it was negative. To some, the market revolution was a quality of American…
Srebnick, A. (1997). The Mysterious Death of Mary Rogers. NY: Oxford University
Low Income Housing Credit
The low income tax credit has been an issue of debate since it was created. Many believe that the federal government should do more to help the working poor gain access to affordable housing and that the current plan is extremely convoluted making it difficult for developers and tenants to comply with. The purpose of this discussion is to define and describe the low income housing tax credit and to explore the advantages and disadvantages presented by such a system.
Defining the Low Income Tax Credit
According to an article entitled "The Low Income Tax Credit" published by the Internal Revenue Service the low-income housing tax credit was created by Congress to promote the construction and rehabilitation of existing rental housing for the working poor in various neighborhoods throughout the United States.
Congress also believed that the credit would raise the quantity of rental housing for…
About the Low Income Housing Credit." http://www.novoco.com/Facts_Figures/Aboutlihc.htm
Affordable Housing Needs Boost." Real Estate Weekly. January 10,2001. http://www.findarticles.com/cf_0/m3601/23_47/69676209/p1/article.jhtml?term=low+income+housing+credit
Anderson, George. "Housing and Low Income Americans." America. July 29,2000. http://www.findarticles.com/cf_0/m1321/3_183/63649246/p1/article.jhtml?term=low+income+housing+credit
Low Income Housing Credit." Published by the Internal Revenue Service. Number 89018M
" (Seitles, 1996)
Seitles claims that integration has been a success in the fight against racial prejudice and states that: "Social consequences of racial isolation intertwine with grim economic realities for minorities. Due to the lack of interaction between racial groups, African-Americans are unprepared to work and socialize in a white majority society, while conversely, whites are not relating to, working with, or living with blacks. Prospects for African-American children raised in such communities are greatly diminished because of the lack of interaction between blacks and whites. Moreover, minority possibilities for advancement consequently decline from the lower quality of education afforded to them in ghetto schools, precluding them from competing for high-income employment. Although these inequalities are not always directly caused by intentional discrimination, residential racial segregation perpetuates these inequalities. Thus, minorities who live in racially homogeneous communities are faced with disadvantages beyond the present economic and social inequalities associated…
Thomas Lee Philpott, The Slum and the Ghetto: Neighborhood Deterioration and Middle Class Reform, 1880-1930 New York: Oxford University Press, 1978. Appendix A, 407-410. Online available at: Plotkin (1997) http://www.public.asu.edu/~wplotkin/DeedsWeb/newberry.html
Wilen, William P. & Stasell, Wendy L. (2000) Gautreaux and Chicago's Public Housing Crisis: The Conflict Between Achieving Integration and Providing Decent Housing for Very Low-Income African-Americans Copyright 2000 by National Center on Poverty Law. All rights reserved. 34 Clearinghouse Rev. 117. http://www.povertylaw.org/legalresearch/articles/free/wilen.htm
Ranney, D. & Wright P. (2000) Race, Class, and the Abuse of State Power: The Case of Public Housing in Chicago Nathalie P. Voorhees Center for Neighborhood and Community Improvement 2000 March, Publication#: V172 http://www.uic.edu/cuppa/voorheesctr/racepaper.htm
Gautreaux and Chicago's Public Housing Crisis:
secondary mortgage market in detail. It puts light on the functioning of secondary mortgage market. It also discusses different tools that are used in this market and the benefits and drawbacks of this market. This paper also highlights some of the secondary mortgage market organizations and agencies. The evolution and growth of secondary mortgage market has also been discussed in this paper.
The secondary mortgage market is a place where the investors buy mortgage loans from the originators. An originator itself can be an investor also, by buying the loans provided by other originators. An originator can also sell these loans to an intermediary, who then converts these loans into securities and sell them to other people. It is a place where the mortgages originated in the primary mortgage market are resold. The already issued notes are also sold in the secondary mortgage market. These notes are purchased by the…
Jean Cummings, & DeniseDiPasquale. (1997, June 4). A Primer on the Secondary Mortgage Market. Retrieved from http://www.cityresearch.com/pres/smm.pdf.
Michael J. Lee. (n.d.). Secondary Mortgage Markets: International Perspectives. Retrieved from http://www.housingfinance.org/uploads/Publicationsmanager/SecMort-2.pdf .
The Secondary Mortgage Market. Retrieved from http://www.google.com .pk/url?sa=t&rct=j&q=role%20of%20secondary%20mortgage%20market&source=web&cd=16&ved=0CDwQFjAFOAo&url=http%3A%2F%2Fwww2.cob.ilstu.edu%2Fjwtrefz%2FFIL360%2FJSECMTGM.DOC&ei=Lr5lUOyKNc23hAf03IHoBw&usg=AFQjCNFFdYFh4QW78TZvyORDUy6JckieZA
New York eal Estate and Office Markets
NEW YOK CITY OFFICE MAKET
New York is one of the premiere metropolitan areas of the world, exerting a significant impact on global commerce, finance, media, art, fashion, research, technology, education, and entertainment. The home of the United Nations Headquarters, New York City is an important center for international affairs and is widely deemed the cultural capital of the world. With its unmatched scope of building types, diverse tenant base and extensive transportation system, the city has earned an iconic and prominent place in the global market.
The borough of Manhattan serves as its hub and is the nation's largest single office market with 450 million square feet of space (Brown, 2007). Its office inventory is greater than the next five largest U.S. markets combined and features some of the world's most iconic properties (Beauregard, 2005). This paper explores the current state of…
1. Beauregard, R.A. (2005). The textures of property markets: Downtown housing and office conversions in New York City. Urban Studies (Routledge), 42(13), 2431-2445. doi:10.1080/00420980500380345
2. Brown, J.L. (2007). Demolition in Manhattan Gains Momentum. Civil Engineering (08857024), 77(8), 34.
3. Gong, H., & Keenan, K. (2012). The Impact of 9/11 on the Geography of Financial Services in New York A Few Years Later. Professional Geographer, 64(3), 370-388. doi:10.1080/00330124.2011.603654
4. Gregor, A. (2011). Demand for Office Condos Grows in Manhattan. New York Times. p. 6.
The bottom line for many - in terms of moral obligation - is the fact that Americans rely on their government to: a) protect them from attacks from terrorists (which the government did not to prior to the attacks on 9/11); b) spend their tax money responsibly without corruption (which neither the Congress or the hite House has done in recent years); c) only wage war when the nation is under direct threat of hostility (which it didn't vis-a-vis the Iraq ar); d) be honest with citizens (which the government has not been - to wit, the executive branch has on numerous occasions over the past few years censored empirical science in the name of political ideology); and e) protect the Constitution (which the executive branch has not done in all cases, i.e., recent memos released by the Justice Department show the executive branch believed it could assume broad and…
Merle, Renae. (2009). One in Five Homeowners 'Underwater'. The Washington Post.
Retrieved March 2, 2009, at http://www.washingtonpost.com .
Press Room U.S. Department of the Treasury. (2009). Relief for Responsible
Homeowners One Step Closer Under New Treasury Guidelines. Retrieved March 3, 2009 at http://www.treasury.gov/press/releases/tg48.htm .
Using the current downturn to a business' advantage is another option. This can include 'greening' existing homes to make them less costly to run and more energy-efficient, selling cheaper homes to buyers looking for 'less home,' especially seniors with retirement funds that have been depleted as a result of the stock market's losses, and refurbishing long-abandoned structures. Diversifying by offering second homes and vacation homes is another possibility for companies wishing to modify and expand their brand image and offerings to consumers (itkowski 2009).
First time homebuyers are looking for bargains are a key segment. Some long-term speculators not burned in the first housing boom may rationalize property is always profitable eventually. So are individuals looking for homes that are less costly to maintain.
Vogel, Mike. (2008, May 1). Homebuilders changing business model. Florida Trend.
Retrieved April 1, 2009 at http://www.floridatrend.com/article.asp?aID=48790
itkowski, ayne. (2009, February 22).…
Vogel, Mike. (2008, May 1). Homebuilders changing business model. Florida Trend.
Retrieved April 1, 2009 at http://www.floridatrend.com/article.asp?aID=48790
Witkowski, Wayne. (2009, February 22). Poconos builders change business model to weather economy fairly well. Pocono Record. Retrieved April 1, 2009 at http://www.poconorecord.com/apps/pbcs.dll/article?AID=/20090222/NEWS02/902220302/-1/rss01
Office Market Analysis of Philadelphia, Pennsylvania
Today, Philadelphia is highly modern and vigorous city that hosts a number of historic American sites and enjoys numerous natural resources. It is the fourth largest city in the United States and the largest in Pennsylvania. Philadelphia exhibits a number of characteristics of a small town environment complete with trees, parks, and other open spaces; these attributes reflect the legacy of the city's founder, illiam Penn. Philadelphia represents an important urban center of national and international commerce, with one of the largest and busiest freshwater ports in the world. The tremendous industrial production of the city and the surrounding metropolitan regions represent an enormous opportunity for those who recognize what will be needed in this environment today and in the future. To this end, this paper will provide a market analysis of the Philadelphia to determine the condition of the local economy, the competitive…
Adams, Carolyn, Bartelt, David and Ira Goldstein et al. Philadelphia: Neighborhoods, Division, and Conflict in a Postindustrial City. Philadelphia: Temple University Press, 1991.
Archer, Wayne R. And Marc T. Smith. (2003). Explaining Location Patterns of Suburban Offices. Real Estate Economics, 31(2):139.
Philadelphia, PA Office Market - First Quarter 2004. (2004). Cushman & Wakefield. Available: http://www.mack-cali.com/graphics2/markets/pdfs_1Q_04/Phi_Off_1Q04 . pdf.
Imbroscio, David L. (1995). Nontraditional Public Enterprise as a Local Economic Development Policy: Dimensions, Prospects, and Constraints. Policy Studies Journal, 23(2):218.
Philadelphia Office Market Analysis
Downtown Philadelphia -- Analysis of the Office Market of the Central Business District
Recently, the city of Philadelphia has garnered considerable national attention in the national media. This is partly due to the fact that the Philadelphia schooled and owned colt named 'Smarty Jones' has dazzled the eyes of racetrack spectators and betters all over the nation. This prospective winner of racings illustrious Triple Crown makes the old city of Philadelphia as a whole seem, if not glamorous, then at least a city that is showing a newly marketable face to the nation.
Philadelphia resurgence in the Central City Business District has been predicted since the early 1990's. But, from an office owner's real estate oriented perspective and vantage 2004, is Philadelphia a 'good bet'? hat about specifically regarding office space targeted to that of the horary perspective of the legal profession? ould the purchase of…
Central City Proprietor's Association (CCPA). 2004. Official Website. http://www.centercityproprietors.org/
Issues: Philadelphia 2003. "Central City." 2003. http://www.issuesphiladelphia.net/articles/4062/;jsessionid=5BDE0AE39622D8AA8A7E64D63FBC750A
Issues: Philadelphia 2003. "Intergovernmental Relations." 2003. http://www.issuesphiladelphia.net/articles/4063/
Sinderman, Martin. "Philadelphia." August 1, 1996. National Real Estate Investor. http://www.nreionline.com/ar/real_estate_philadelphia_3/
The term Housing Starts refers to an economic indicator of statistical data associated with the number of public and private single family dwellings and multi-family dwellings which are begun during a certain period. Single family dwellings, which have begun the foundation digging process constitute one housing start while multi-family dwellings is equivalent to the number of units or single family dwellings constructed in a given building. Additionally, in 1992 the U.S. Census Bureau began including a housing start number for every dwelling in which an entirely new constructed dwelling or set of dwellings would be constructed on an old foundation. The statistic does not include, remodels, additions or commercial buildings being converted to homes. Housing Starts are considered a leading indicator of the economy as a whole, because it is a direct indicator of issues of supply and demand. (A.G. aymond & Co., 2004, "Statistics and Economic Indicators"…
Bater, J. (July 13, 2004 "Housing Starts Plunge" Dow Jones Newswires. Retrieved July 20, 2004 at http://www.smartmoney.com/bn/ON/index.cfm?story=ON-20-0843 . http://www.questia.com/ PM.qst?a=o&d=78521769
Finkel, G. (1997). The Economics of the Construction Industry. Armonk, NY: M.E. Sharpe.
N. Frumkin. (1990). Guide to Economic Indicators. Armonk, NY M.E. Sharpe, Inc.
A.G. Raymond & Co.(2004) "Statistics and Economic Indicators" Retrieved July 20, 2004 at http://www.raymondnet.com/AGRCo-WebPages/MainPage/statistics- main.htm)
For this research proposal several possible methods of research were examined and discarded before settling on the structured interview and the questionnaire for methods to use in this particular study.
The questionnaire will be distributed to 100 low income families and will consist of three sections.
The first section will ask for general demographic information including race, age, number of family members, income and current living situation.
The second section will ask the participant to detail the past five years with regard to residents, rentals, public housing and cost.
The third section will request that the participant check off the top three elements that he or she felt created the most hardship in getting affordable and accessible housing. In this section the participants will also be asked to check off the three elements that they believe will help them to access affordable housing in the future. This section will…
Garcia, Shelly (2003) Housing dilemma: Luxury, affordable residents seek units: City Falls short in meeting lower-income needs. San Fernando Valley Business Journal
Jordan, George (1999) Appraising the assets of low-income housing tax credit properties.
Maher, Lindsay (2000) Coming Home: Creating Affordable Assisted Living for Low-Income Seniors. Social Policy Journal
So is knowledge of various, and often changing government regulations regarding the financing, construction, and architectural design of green homes.
A green home professional should be well-versed in different types of environmental science, and know what critical aspects of a home should have priority for 'greening.' It is necessary to make the homes affordable within the target demographic and genuinely environmentally efficient. A background in the government's specific stipulations as to what constitutes a green product regarding home improvements is important, as well as the technical aspects of energy efficient windows, landscaping, heating and cooling systems, and so forth that may be added to a new, existing, or rebuilt home.
Some real estate background would be necessary, to understand what makes a home aesthetically attractive to a buyer, when designing the homes and developing a market strategy. Knowledge of Internet marketing and other new venues to reach a wide demographic,…
Construction Project Financing/Valuation
A brief search of Internet-listed one-bedroom apartments in Abu Dhabi confirms a current yearly rental price of AED 75,000 for most properties in the city (Justentals.com, 2012). Many apartments located in different buildings and in different [arts of the city are listed for exactly this amount, though some were also found for lower (AED 60,000) and several were found that were higher (approx. AED 85,000), however as an average current price AED 75,000 seems quite accurate (Justentals.com, 2012). Likewise, an estimation of AED 120,000 as the current annual average rent for a two bedroom is also fairly accurate; there is a greater variance observed in prices for two bedrooms that is likely reflective of differences in actual size and also appears to be neighborhood- and building-driven to a greater degree than is the pricing of one-bedroom apartments, however AED 120,000 does seem to be a…
Jones, M. (2011). CEO Magazine Interview. Accessed 10 April 2012. http://www.ceoqmagazine.com/economicoutlook/gcceconomicoutlook.htm
JustRentals.com. (2012). Accessed 10 April 2012. http://www.justrentals.com/abu-dhabi-rent/1-bedroom-abu-dhabi-apartments-for-rent.html
PropertyWire.com. (2012). Downturn for property rents in Abu Dhabi as market is flooded with new supply. Accessed 10 April 2012. http://www.propertywire.com/news/middle-east/abu-dhabi-rental-prices-201203286352.html
Reuters. (2011). S&P keeps Abu Dhabi outlook. Accessed 10 April 2012. http://www.emirates247.com/business/economy-finance/s-p-keeps-abu-dhabi-outlook-2011-05-24-1.396898
As part of the research triangle, Raleigh has a significant portion of its population that fits the target market. For the Farmery to succeed, it only needs to capture a small portion of the market share. This is especially true because the store has a small footprint, and has the flexibility to set up on vacant lots without the costs of either renting or developing fixed real estate. The Farmery therefore needs to focus on two or three key elements to ensure adequate market penetration.
The first of these is location. Let it not be understated that location, location, location is critical to the success of any retail business. Because food is not normally something that people are willing to travel more than a few miles for, it is important that the Farmery target a neighborhood where there is a high concentration of individuals that fit the target market. There…
Falk, T. (2012). Detroit turns shipping containers into condos. Smart Planet. Retrieved December 4, 2012 from http://www.smartplanet.com/blog/bulletin/detroit-turns-shipping-containers-into-condos/5900
Food Marketing Institute. (2012). Supermarket facts. Food Marketing Institute. Retrieved December 4, 2012 from http://www.fmi.org/research-resources/supermarket-facts
Greene, B. (2012) the Farmery. Kickstarter.com Retrieved December 4, 2012 from http://www.kickstarter.com/projects/farmery/the-farmery
Imlay, T. (2006). Challenges in today's U.S. supermarket industry. Microsoft. Retrieved December 4, 2012 from http://msdn.microsoft.com/en-us/library/aa479076.aspx
Samsung Cell Phones
The first distinct market segment for Samsung is the enterprise market, which is primarily regarded as employee phones market. This market segment has grown tremendously in the past few years and businesses incorporate phones into work processes. The segment contains the working class population with different income, age, and of different gender. The population is in different geographic and can be segmented through user status for employees who are looking for ways of enhancing work processes. The second market segment for Samsung cell phones is the early adopter market, which comprises of children or technically ignorant or naive customers. This segment contains children who are looking for phones to play with or individuals seeking for easy-to-use phones. The behavioral segmentation of this market is user status since it's made of first-time users or technically ignorant users who are usually found within the home setting. The individuals…
Akers, Helen. "What Is Multi-Segment Marketing?" Chron - Small Business. Hearst Newspapers, LLC, n.d. Web. 12 Sept. 2015. .
Widdel. "Market Segmentation Basics." Anoka-Ramsey Community College. Anoka-Ramsey Community College, n.d. Web. 12 Sept. 2015. .
n spite of subsequent attempts to control spending, the average net savings, as estimated in the NPA attained a low of negative $40 billion or negative 0.4% of GDP during the first quarter of the year. A majority of these authorities are subject to balanced -budget necessities and added rules which need them to respond to fiscal disturbances. Hence in addition to decreasing operating expenses, government relied on reserves, introduced bonds in the market, sold assets and performed lot of one-time corrections in the timing of payments to balance their books.
Of late, a lot have even enhanced taxes and fees thus countering the trend towards lower taxes, which existed during the late 1990s. Latest indications have been that the fiscal stress in this sector has started to relieve. The enhancement shows a perceptible upturn in collections of taxes in recent quarters whereas control on operating expenses on the whole…
Implications for interest rates and monetary policy actions:
There was a fall of interest rates for the greater part of first half of 2003, mainly in response to persistent weak economic data and a linked marking down of hopes for the federal funds rate. Data from the federal funds futures market implied that a substantial probability of a further casing of policy and did not involve any tightening prior to 2004. Although the geopolitical tensions came down, economic data considered weaker than expected economic data persisted to keep down treasury yields. The FOMC's in the aftermath of the May meeting that "unanticipated fall in inflation" continued to be a risk strengthened the concept that monetary policy would remain accommodative, and, of course, judging from market quotes on federal funds futures, it was anticipated by the market participants further easing out.
Mortgage rates followed Treasury yields lower; starting off an immense gush of mortgage refinancing To offset the decline in the period of their portfolio stemming from the spurt in prepayments, mortgage investors allegedly purchased huge amounts of longer-dated Treasuries, intensifying the coming down in the yields. Interest rates on corporate bonds also came down in the first half of the year, affecting a lot of businesses to issue long-term debt to pay down other, more expensive categories of debt and build up cash assets.