Aging Subsidized Housing Residents : A Growing Problem in U.S. Cities

Many low-income elderly live in subsidized housing in central cities These aging tenants need adaptive physical structures and supportive services in order to age in place, but lack the resources to pay for them. The responses to the AHEAD Wave 2 survey are used to compare the housing conditions of elderly subsidized housing residents with unsubsidized tenants. Results indicate subsidized tenants have greater health and physical limitations. They are likely to have physically appropriate housing, but unlikely to have access to supportive services that would allow them to age in place, creating a problem policymakers must address.

Modelling the Value Adding Attributes of Real Estate to the Wealth Maximization of the Firm

Firms develop strategies to help them achieve their primary goal of maximizing the wealth of the shareholders. These strategies should define the supporting role corporate real estate management plays; however current theory and practice do not adequately identify the direct and indirect methods by which corporate real estate management (CREM) adds value to the firm. We develop a model of how real estate adds value to the firm to help fill this void. This model can be then used to develop more precise and complete metrics to measure the value real estate adds to the firm.

Time, Place, Space, Technology and Corporate Real Estate Strategy

Few corporations take a strategic approach to managing real estate. This survey finds that corporate real estate managers and service providers in Australia, Hong Kong, the United Kingdom and the United States continue to fulfill a traditional transactional role within their organizations. Real estate is not cooperating with other parts of the organization to provide their companies with flexibility that could increase competitiveness. While the use of technology is growing, real estate managers remain uncertain about its role in their future. Corporate real estate managers believe that to be effective in the future they will need strategic planning skills and business knowledge.

International retiree migration and housing markets. Evidence from Spain

Purpose – Large numbers of Northern European retirees have migrated to Southern European countries. A relevant part of this migration is not driven by work purposes but rather the desire to establish residence in a warmer country. These migrants come from different countries and exhibit diverse socioeconomic characteristics and preferences, including varying income levels, housing tastes and cultural habits, which could potentially influence the housing market in their host countries. This paper aims to examine the permanent impact of retiree migrant flows on house prices in Alicante, Spain, from 1988 to 2019, explicitly considering the impact related to the country of origin. Design/methodology/approach – This paper examines the permanent impact of retiree migrant flows on house prices in Alicante, Spain, from 1988 to 2019, explicitly considering the impact related to the country of origin using panel cointegration – Dynamic Ordinary Least Squared (DOLS) models. Findings – Results indicate that the long-term relationship captures the entire effect on house price change and that prices react immediately to the immigrants' presence with permanent effects. The results also suggest that the strong retiree migration flow created a shock in the housing market with different effects on house prices related to the immigrants' country of origin. The model identifies that when income growth in the origin country is slower than in Spain it has a major impact on house prices. When purchasing capacity is larger in Alicante than in the origin country it exerts a stronger effect on housing prices. Retiree migration flow has permanent effect on housing market prices. Practical implications – Results indicate several ways to act on social and housing policies in specific cities in Alicante province, as well as in the origin countries, to alleviate potential disadvantages faced by expatriate retirees. Originality/value – This paper finds evidence of the specific impact of international retiree migrants on the hosting housing market. This study is the first paper that can estimate the specific effect on housing prices from a flow of retiree migrants by country of origin

Examining Retirement Housing Preferences Among International Retiree Migrants

Housing demand models based on individual consumers' utility function reflect preferences about the structure and lot, neighborhood, and location as related to socioeconomic characteristics of the occupants. As a growing proportion of aging residents in many countries are undertaking late life moves, their preferences will have an influence on destination housing markets. We examine the characteristics, attitudes and preferences about retirement housing among immigrant retirees currently living in traditional housing in a retirement destination in Alicante, Spain. Using results from a survey of German and British retirees living in the region, we find through logistic regression that preference for retirement housing is associated with aging and gaining access to in-home support services.Housing preferences; Demographic trends; Seniors housing

Time-on-market in Chinese condominium presales

The condominium presale market is characterized by information asymmetry between the developer and potential buyers. A condominium developer faces conflicting incentives to sell units quickly at a lower price to generate cash and sales momentum versus to hold prices high and endure longer marketing time to maximize revenues and maintain the property’s value. We examine the pattern of marketing duration for condominium units offered for presale in a large homogeneous development in Chengdu, China using a Cox proportional hazards model. Results indicate that a patient developer may extract a price premium on units. Diminishing risk to buyers is associated with shorter marketing duration. Time-on-market is also influenced by unit and building size as well as orientation. Market conditions may moderate the speed at which units are sold

Housing market reactions in presence of retirees’ migration

Paper presented to the XIII Encuentro de Economía Aplicada, Sevilla, 10-11 junio 2010.Retiree migration in Europe has been an increasing phenomenon during the last fifteen years as people from Northern countries move to the South. Spain has been one of the primary destinations for this group where they tend to concentrate in some coastal and very warm areas such as Alicante, Islands and the South. The larger groups are British and Germans retiree arriving to Alicante and their flow of arrivals are in the same period when price and construction start to growth dramatically. This paper explores the role these retiree migrants could have played in the expansion process of the housing market in Alicante. We specifically investigate their implications on the housing prices and the different impact related to the nationality. Using time series analysis, the paper uses time methods to adjusts a housing demand function where international economic variables are introduced in order to capture the impact of monetary and income conditions in Germany and UK on Alicante housing market. Results seem to suggest that the strong appearance of the retiree flow of migration could have created a shock in housing market in Alicante with different effects depending on the nationality