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Abstract

Details

A Neoliberal Framework for Urban Housing Development in the Global South
Type: Book
ISBN: 978-1-83797-034-6

Article
Publication date: 16 April 2024

Askar Choudhury

The COVID-19 pandemic, a sudden and disruptive external shock to the USA and global economy, profoundly affected various operations. Thus, it becomes imperative to investigate the…

Abstract

Purpose

The COVID-19 pandemic, a sudden and disruptive external shock to the USA and global economy, profoundly affected various operations. Thus, it becomes imperative to investigate the repercussions of this pandemic on the US housing market. This study investigates the impact of the COVID-19 pandemic on a crucial facet of the real estate market: the Time on the Market (TOM). Therefore, this study aims to ascertain the net effect of this unprecedented event after controlling for economic influences and real estate market variations.

Design/methodology/approach

Monthly time series data were collected for the period of January 2010 through December 2022 for statistical analysis. Given the temporal nature of the data, we conducted the Durbin–Watson test on the OLS residuals to ascertain the presence of autocorrelation. Subsequently, we used the generalized regression model to mitigate any identified issues of autocorrelation. However, it is important to note that the response variable derived from count data (specifically, the median number of months), which may not conform to the normality assumption associated with standard regression models. To better accommodate this, we opted to use Poisson regression as an alternative approach. Additionally, recognizing the possibility of overdispersion in the count data, we also explored the application of the negative binomial model as a means to address this concern, if present.

Findings

This study’s findings offer an insightful perspective on the housing market’s resilience in the face of COVID-19 external shock, aligning with previous research outcomes. Although TOM showed a decrease of around 10 days with standard regression and 27% with Poisson regression during the COVID-19 pandemic, it is noteworthy that this reduction lacked statistical significance in both models. As such, the impact of COVID-19 on TOM, and consequently on the housing market, appears less dramatic than initially anticipated.

Originality/value

This research deepens our understanding of the complex lead–lag relationships between key factors, ultimately facilitating an early indication of housing price movements. It extends the existing literature by scrutinizing the impact of the COVID-19 pandemic on the TOM. From a pragmatic viewpoint, this research carries valuable implications for real estate professionals and policymakers. It equips them with the tools to assess the prevailing conditions of the real estate market and to prepare for potential shifts in market dynamics. Specifically, both investors and policymakers are urged to remain vigilant in monitoring changes in the inventory of houses for sale. This vigilant approach can serve as an early warning system for upcoming market changes, helping stakeholders make well-informed decisions.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Open Access
Article
Publication date: 29 April 2024

Eric Kwame Simpeh, Matilda Akoto, Henry Mensah, Divine Kwaku Ahadzie, Daniel Yaw Addai Duah and Nonic Akwasi Reney

In the Global North, affordable housing has evolved and thrived, and it is now gaining traction in the Global South, where governments have been vocal supporters of the concept…

Abstract

Purpose

In the Global North, affordable housing has evolved and thrived, and it is now gaining traction in the Global South, where governments have been vocal supporters of the concept. Therefore, this paper aims to investigate the important criteria for selecting affordable housing units in Ghana.

Design/methodology/approach

A quantitative research approach was used, and a survey was administered to the residents. The data was analysed using both descriptive and inferential statistics. The relative importance index technique was used to rank the important criteria, and the EFA technique was used to create a taxonomy system for the criteria.

Findings

The hierarchical ranking of the most significant criteria for selecting affordable housing includes community safety, waste management and access to good-quality education. Furthermore, the important criteria for selecting affordable housing are classified into two groups, namely, “sustainability criteria” and “housing demand and supply and social service provision”.

Research limitations/implications

This study has implications for the real estate industry and construction stakeholders, as this will inform decision-making in terms of the design of affordable housing and the suitability of the location for the development.

Originality/value

These findings provide a baseline to support potential homeowners and tenants in their quest to select affordable housing. Furthermore, these findings will aid future longitudinal research into the indicators or criteria for selecting suitable locations for the development of low- and middle-income housing.

Details

Urbanization, Sustainability and Society, vol. 1 no. 1
Type: Research Article
ISSN: 2976-8993

Keywords

Article
Publication date: 14 March 2024

Safar Ghaedrahmati and Ebrahim Rezaei

This paper examines the main drives of encouraging Iranian investors in the Turkish real estate market, focusing on the interface between push factors and pull factors that drive…

Abstract

Purpose

This paper examines the main drives of encouraging Iranian investors in the Turkish real estate market, focusing on the interface between push factors and pull factors that drive them abroad.

Design/methodology/approach

This paper examines the main drives of encouraging Iranian investors in the Turkish real estate market, focusing on the interface between push factors and pull factors that drive them abroad. For this purpose, the trend of housing price growth in Iran and Turkey was compared. The review of the 11-year trend of rates shows that housing prices in both countries have been continuously rising, and these prices have undoubtedly experienced increasing shocks in Iran. For further analysis, 13 main variables leading to the repulsion of investment in Iran's housing market and 15 variables shaping the attractiveness of investment in Turkey were identified in this sector. Thirty experts subsequently ranked the significant variables based on a closed-end questionnaire using quantitative strategic planning matrix. Examining housing investment elasticity in Turkey also shows that “Turkey's economic stability compared to neighboring countries” and “acquiring Turkish citizenship through real estate investment” are among the most important variables. On the other hand, the pressure variables of housing investment in Iran were “decrease in the value of the Iranian currency in recent years,” “currency price fluctuations” and “severe fluctuations and instability in the Iranian housing market.”

Findings

Examining housing investment elasticity in Turkey also shows that “Turkey's economic stability compared to neighboring countries” and “acquiring Turkish citizenship through real estate investment” are among the most important variables. On the other hand, the pressure variables of housing investment in Iran were “decrease in the value of the Iranian currency in recent years,” “currency price fluctuations” and “severe fluctuations and instability in the Iranian housing market.”

Originality/value

From a theoretical standpoint, foreign investment is in support of Turkey and harmful to Iran because the Turkish government is bolstering investment attractiveness to bring increased capital inflows into this country. Practically speaking, Turkey has aimed to create a rational framework for investors by strengthening and changing its economic system, as well as amending existing constitutions in this domain. Nevertheless, Iran resists any changes in its economic system and legislation. Therefore, a wide range of attractiveness and repulsion variables has led to the migration of Iranian investors to Turkey. In the present study, such variables are illuminated.

Details

Journal of European Real Estate Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-9269

Keywords

Abstract

Details

Journal of Indian Business Research, vol. 16 no. 1
Type: Research Article
ISSN: 1755-4195

Article
Publication date: 22 September 2022

Rafiq Ahmed, Hubert Visas and Jabbar Ul-haq

This study aims to explore the impact of oil prices on housing prices using Pakistani annual data from 1973 to 2021.

Abstract

Purpose

This study aims to explore the impact of oil prices on housing prices using Pakistani annual data from 1973 to 2021.

Design/methodology/approach

The Augmented Dickey–Fuller (ADF) and Phillips–Perron (PP) tests were used for unit-root testing, whereas the johansen-juselius test was used for cointegration. For the short-run, the error correction model is used and the robustness of the model is checked using the dynamic ordinary least squares (DOLS) and fully modified OLS (FMOLS). The cumulative sum (CUSUM) and CUSUM of Squares tests were used to check the stability of the model, while parameter instability was confirmed by the Chow breakpoint test. Finally, the impulse response function was used for causality.

Findings

According to the findings, rising oil prices, among other things, have an impact on housing prices. Inflation is the single most important factor affecting not only the housing sector but also the entire economy. Lending and exchange rates have a significant impact on housing prices as well. The FMOLS and DOLS results suggest that the OLS results are robust. According to the variance decomposition model, housing prices and oil prices are bidirectionally related. The Government of Pakistan must develop a housing policy on a regular basis to develop the country’s urban housing supply and demand.

Practical implications

It is suggested that in Pakistan, the rising oil prices is a problem for the housing prices as well as many other sectors. The government needs to explore alternative ways of energy generation rather than the heavy reliance on imported oil.

Originality/value

Pakistan has been experiencing rising oil prices and housing prices with the rapid urbanisation and rural–urban migration. The contribution to the literature is that neither attempt (as to the best of the authors’ knowledge) has been made to check the impact of rising oil prices on housing sector development in Pakistan.

Details

International Journal of Housing Markets and Analysis, vol. 17 no. 2
Type: Research Article
ISSN: 1753-8270

Keywords

Abstract

Details

A Neoliberal Framework for Urban Housing Development in the Global South
Type: Book
ISBN: 978-1-83797-034-6

Abstract

Details

A Neoliberal Framework for Urban Housing Development in the Global South
Type: Book
ISBN: 978-1-83797-034-6

Abstract

Details

A Neoliberal Framework for Urban Housing Development in the Global South
Type: Book
ISBN: 978-1-83797-034-6

Article
Publication date: 20 March 2024

Taylah Brown, Charlotte Smedley and Jacqui Cameron

Despite a significant evidence base illustrating the issue of housing insecurity and homelessness experienced by women over the age of 55 in Australia [Pawson et al., 2018;…

Abstract

Purpose

Despite a significant evidence base illustrating the issue of housing insecurity and homelessness experienced by women over the age of 55 in Australia [Pawson et al., 2018; Australian Institute of Health and Welfare (AIHW), 2021b; Mission Australia 2022; Per Capita 2022], there continues to be a knowledge gap in the representation of older women in current Federal and New South Wales (NSW) State Government housing and homelessness policies and initiatives. This paper aims to identify the extent and ways in which older women were represented (or not represented) in the Federal and NSW State housing and homelessness policies in 2022.

Design/methodology/approach

Of the total primary and supplementary Federal and NSW State policy and strategy documents, 16 were collected through a systematic review and then analysed using a Critical Discourse Analysis (CDA) framework and feminist lens to explore quotes, phrases, keywords and language choices which suggested prevalent themes, rhetorical devices and dominant discourses.

Findings

Three significant themes were identified by the analysis (1) “relinquished responsibility”, (2) “inconsistent rhetoric” and (3) “homogenising and ideological cherry picking”. These themes presented the authors with three main discussion points to inform policy reform which we have addressed in relation to policy implications, evidence-based policy decision-making and impacts on older women.

Originality/value

The combination of a systematic review with CDA provides a unique approach to exploring homelessness policy for older women.

Details

Housing, Care and Support, vol. 27 no. 1
Type: Research Article
ISSN: 1460-8790

Keywords

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