The informal settlements in Butuan City, Philippines, pose the intractable problem of housing and providing services for the urban poor. In particular, their displacement as a result of the implementation of a government infrastructure project presents tremendous challenges in coming up with...

The town of Wolfville, Nova Scotia is a small historic community, economically dominated by Acadia University. It is located on the north slope of a ridge, affording views of the Minas Basin, at the eastern end of the Bay of Fundy. The upper boundary of the town is a major provincial highway. A...

In this paper, we build the rationale of the financial intermediate's decision of making loans to potential home buyers over an infinite time horizon. In the first period "good" borrowers with stable future income flows receive loans and buy homes. In later periods, the intermediate securitizes...

The residential property industry, which had grown rapidly in the 1980s, however, encountered overhang problems recently. Overhang of residential units has been getting worse and therefore, precautionary measures must be taken by the housing developers before it leads to a property glut. In...

A model of the term structure of lease rates in a frictionless economy is developed and its predictions are compared with data on residential leases in Japan. The model shows that the initial lease rate for a cancellable lease must be set higher than that for a non-cancellable lease because the...

The economic and social importance of housing markets justifies, more than ever, rigorous analyses that show clearly the actual situation and the future trend of that sector. This paper aims to provide a preliminary estimate of the economic impact of the construction sector on the Spanish...

The economic and social importance of housing markets justifies, more than ever, rigorous analyses that show clearly the actual situation and the future trend of that sector. This paper aims to provide a preliminary estimate of the economic impact of the construction sector on the Spanish...

The economic and social importance of housing markets justifies, more than ever, rigorous analyses that show clearly the actual situation and the future trend of that sector. This paper aims to provide a preliminary estimate of the economic impact of the construction sector on the Spanish...

This paper examines the effects of a mortgage interest rate subsidy on boom and bust in the housing market by exploiting the Housing Mortgage (HM) program implemented in Mongolia. Main results are (i) the recent housing boom occurred from 2012Q2 to 2014Q1, while the housing bust lasted four...

South Korea has a unique kind of rental contract, called chonsei. The tenant pays an upfront deposit, typically from 40% to 70% of the property value, to the landlord, and the landlord repays the deposit to the tenant upon contract termination. The tenant is not required to make any periodic...