A5025629965- Housing Market and Economics
- Spatial and Panel Data Analysis
- Regional Economics and Spatial Analysis
- Urban, Neighborhood, and Segregation Studies
- Housing, Finance, and Neoliberalism
- Financial Literacy, Pension, Retirement Analysis
- Insurance and Financial Risk Management
- Urban Transport and Accessibility
- Urbanization and City Planning
- Regional Economic and Spatial Analysis
- Land Use and Ecosystem Services
- Transportation Planning and Optimization
- Economic and Environmental Valuation
- Terrorism, Counterterrorism, and Political Violence
- Financial Markets and Investment Strategies
- Insurance, Mortality, Demography, Risk Management
- Law, AI, and Intellectual Property
- Fiscal Policy and Economic Growth
- Crime, Illicit Activities, and Governance
- Smart Parking Systems Research
- Forecasting Techniques and Applications
- Digital and Cyber Forensics
- Aviation Industry Analysis and Trends
- State Capitalism and Financial Governance
- Polish Historical and Cultural Studies
University of Southern California
2012-2025
Southern California University for Professional Studies
2004-2019
University of California, Berkeley
1998-1999
ABSTRACT In contrast to the rigid structure of standard parametric hedonic analysis, nonparametric estimators control for misspecified spatial effects while using highly flexible functional forms. Despite these advantages, procedures are still not used extensively data analysis due perceived difficulties associated with estimation and hypothesis testing. We demonstrate that is feasible large datasets many independent variables, offering statistical tests individual covariates model...
This article demonstrates the importance of separating bundled good housing into land and improvements, arguing that changes in a property's overall value will depend critically on how much its total is contained land, proportion we call leverage. The this deconstruction demonstrated by highlighting leverage helps to explain variation house price appreciation Wichita, Kansas. Noting should be relevant for many real estate issues policies, highlight four specific areas where consideration...
Are contemporary metropolitan regions becoming more dispersed? There are theoretical arguments for both concentration and dispersal. The purpose of our research is to establish an empirical base that can help us understand the evolution spatial structure. Using data Los Angeles region from 1980, 1990, 2000, we identify employment centers describe trends in pattern inside outside these centers. We find: (1) a remarkable degree stability system centers; (2) increase average distance jobs...
This article examines index revision in measuring the prices for owner‐occupied housing. We consider context of equity insurance and settlement futures contracts. The usefulness aggregate housing price indexes these contexts requires stability as they are extended. Methods that subject to substantial raise questions about viability derivatives markets. find most widely used house not equally exposed volatility revision. Hedonic appear be substantially more stable than repeat‐sales prone...
Abstract In this article, we develop a novel method for measuring the value of location within metropolitan area. By estimating overlapping “semi‐local” regressions and exploiting symmetry among them, are able to construct surface relative This methodology maintains simplicity using fixed effects while resolving omitted variable bias that arises from traditional application in hedonic regressions. We demonstrate our semi‐local approach flexible, hex‐based geography. also show it can be...
Abstract We document how a select set of large and growing metropolitan areas have accommodated growth in their housing supply over 40 years. In particular, we examine provision has evolved for the largest four statistical (MSAs) California Texas. Despite differences topographies regulatory environments, find several common dynamics. As these MSAs grow, see that fewer new net units are built at periphery smaller share as single‐family detached houses. greater infill locations, more using...
Estimating house prices is essential for homeowners and investors alike with both needing to understand the value of their asset, real estate assets as part an overall portfolios. Commonly-used indices like National Association Realtors (NAR) median home price index, or celebrated Case-Shiller Home Price Index are reported exclusively over a large geographic areas, i.e., metropolitan, whereby dynamics lost. In this paper, we propose improved method capture time at most granular level...
The past decade has been marked by a massive housing bubble and foreclosure crisis. During the first half of decade, home prices nationally experienced unprecedented growth, increasing 85 percent in real terms between 1997 2005 (Shiller, 2008). increase was notable for its sheer magnitude because it occurred many markets throughout country. In report to Congress on causes crisis, U.S. Department Housing Urban Development (HUD) detailed how, few short years, country saw market that had...
We examine commercial land markets in Krakow, Poland over a 10‐year period of transition from socialist management to market economy. explore the spatial and temporal evolution prices this period. In particular, we are interested identifying trends toward or away centrality, discovering whether not these acted on city center alone set centers. The data employ is uniquely appropriate for purpose as densifying force “highest‐and‐best” use—typically found market‐oriented cities—was absent under...
Abstract This article highlights the role of land and housing submarkets in construction aggregate house price indexes estimated value stock. We document idiosyncratic appreciation sales volumes across within metropolitan areas that result a sample sold homes are representative neither stock nor its over time. Commonly used indexes, like Federal Housing Finance Agency (FHFA) Case‐Shiller fail to capture these local dynamics produce estimates biased. Our approach is build “locally‐pooled”...