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Tax sales intersect with the market, housing policy and socioeconomic matters, but the topic in this context is understudied. The purpose of this paper is to investigate whether and how land banking is more effective in fostering positive property outcomes than tax lien sales and what market-based measures can be combined with land banking to reuse tax delinquent, vacant and abandoned properties.

This paper analyzes the consequences of tax lien sales and land banking in Indianapolis, Indiana, the USA. Various local data sources are used.

This paper finds that land banking, when compared to tax lien sales, results in less tax delinquency, less vacancy and abandonment, more increase in assessed value and fewer ownership changes after sales. Also, this paper shows the contributions of non-profit and for-profit developers as business partners to land banks.

This paper demonstrates the utility of the land banks that have become prevalent in some states in the USA over the past 20 years. The results of this paper recommend the realistic approach of combining government intervention and market forces.

This paper sheds light on the US practice of tax lien sales. It goes largely unnoticed, but malpractice risks harming the vulnerable members of community.

Housing policy needs to find common ground with the market. It is a dilemma, more or less, for every country. The results of this paper suggest a harmonized public policy approach that includes land banking and the market can be effective in combatting with troubled properties.

The purpose of this paper is to examine the effects of land banking strategy and market analysis towards the performance of Malaysian housing developers.

Through in-depth interviews, participants shared their opinions on success factors of housing development firms with a focus on land banking and market study. Content analysis was performed on the data, identifying the connection between both strategies and their superior performance.

The study presents interesting findings in that it lends support to the existing literature as such land banking and market analysis do affect the business competitiveness of housing developers. Albeit subjective in nature, the comments received from respondents are revelatory and have implications for the level of performance perceived by the organisations, as well as the experience of housing entrepreneurs in assembling the land bank and gauging the housing market.

Though not a substitute for quantitative problem solving, this piece of work serves as a corroborative evidence to improve the satisfaction of homebuyers, industry players and policymakers. The paper ends by recommending that the study be repeated in Malaysia, this time with the involvement of other stakeholders, to enrich the findings.

To the best of authors’ knowledge, this is the first research performed in the Malaysian context in which the strategies of private housing developers comprising land banking and market analysis were explored in relation to business success. Hence, the present study not only contributes to the existing property literature, but also makes an important contribution to the business performance and firm competitiveness in the lens of Malaysian entrepreneurs.

This chapter exposes the official view that seems to portray New Towns in the UK as unbalanced communities built on the premise of a failed statist policy but it does not accept these views as fact. A principal critique is that the historiography of New Towns has been predominantly written by experts (academics and otherwise), providing a limited interpretation of the legacy of (living in) New Towns. This chapter uses a selection of key experts and helicopter specialists who contribute to its legacy through academic writing, policy reports and professional advice in their role as planners and architects (including the author/myself a chartered British architect). Experts and helicopter specialists were instrumental in writing and disseminating a specific understanding of the New Towns programme to unpack the stereotypes that were constructed around New Towns, which have (as a result) contributed to their so-called decline. This chapter also questions whether certain issues are due to a biased misrepresentation of the New Towns narrative, and if an alternative perspective is available.

The characterisation of New Towns as communities doomed for failure in their ideological pursuit of balance has been thematically classified as belonging to five stereotypes and each is discussed in a separate section: New Towns represent a statist approach to planning; A case of New Town Blues or suburban dystopia? Design driven stereotypes of New Towns as mostly Modernist projects; New Towns are nothing more than large council estates; Land-banking over Compulsory Purchase Orders.

Presenting the data in such a way permits a deconstruction of ‘balance’ as a lofty abstraction into five clear example-based observations that assist the evaluation of the traditional historiography and writings of British New Towns (Fig. 3.1).

The purpose of this paper is to examine developers’ optimal development timing when developers are heterogeneous and have different marginal costs in a real estate development market.

This study uses a multiple-player game theoretic real option model and provides tractable results of asymmetric development strategies from a two-stochastic-variable model. Anecdotal evidence and market observations are presented.

Stronger developers (with low marginal costs) exercise real estate development options earlier than weaker developers (with high marginal costs). However, the interval time between developments by stronger and weaker developers decreases in rental volatilities. Real estate with a high positive externality are developed earlier than real estate with a low or negative externality.

Weaker and smaller developers are advised to undertake projects having positive externalities from vicinities. Government agencies are recommended to use tools of zoning and urban planning to prioritise developments introducing positive externalities and to facilitate the growth of weaker and smaller developers. This may subsequently help reduce incentive for land banking and oversupply in real estate space market.

This research is probably the first to explicitly incorporate developers’ heterogeneous strength in real estate development timing options with multiple developers in a competitive market. It sheds additional insights into the understanding of potential problems of development cascades, under the interactive effects between exogenous policy changes and endogenous response from asymmetric developers.

The purpose of this paper is to provide a review of major historical developments in agricultural finance, with particular emphasis on agricultural credit. It reviews the development of Raiffeisen and related banks that emerged in Germany and Europe throughout the nineteenth century and how the cooperative banking system made its way into the banking system of the USA in the early twentieth century. The paper emphasizes the role of the state in the developing of agricultural credit, especially with respect to farm mortgages, securitization, and bond structures.

This paper presents a historical synthesis of historical literature on agricultural credit.

This paper shows the direct linkage between the developments in Raiffeisen credit cooperatives and the Farm Credit System (FCS) and details the emergence of the land banks, farm credit banks, agricultural bonds and the role of joint-stock banks in agricultural credit policy.

In total, 2016 marks the 100th anniversary of the passing of the 1916 Federal Farm Loan Act which set in motion the USs’ first Government Sponsored Enterprise and catalyzed the formation of the FCS as it operates today to provide credit to farmers and rural communities on a cooperative basis. Although there are a few wonderful books written on certain aspects of the FCS the story of how the FCS was initiated and the many struggles it faced up to the 1933 Act has not been told often enough. This paper tells the story of the evolution of agricultural credit that ultimately led to the formation of the FCS.

The purpose of the article is to improve the understanding of the role of institutional factors in real estate development. The authors take into account zoning (existence and type), type of right of disposal and type of buyer and seller of property in a multivariate econometric estimation. Dependent variable of the analysis is the time between acquisition of empty land and the application for a building permit, a period when many important development decisions have to be made. This indicator is closely related to debated phenomena like land hording and speculation.

The authors estimate a Cox proportional hazard model with the time between acquisition and application for a building permit as dependent variable and institutional indicators and a number of control variables as explanatory variables. Study area is the GZM Metropolis in the South of Poland. This region shows enough variability in institutional arrangements to allow for this type of analysis.

The analysis shows that institutional factors significantly influence the real estate development process. In areas that have not issued a zoning plan, the period until the building permit application is significantly longer. When the state is involved in a transaction (as purchaser or seller), it also takes longer until the building permit application is submitted. Although the instrument is usually intended to speed up development, perpetual usufruct implies a longer period until building permit application. Because of the results the authors get for control variables and for robustness checks, the authors are confident of the results of the analysis.

To the authors’ knowledge, this is the first study that deals with the question how institutional factors influence the timing of real estate development. By using data for a region in Poland, the authors also add to knowledge about real estate development in CEE countries.

The purpose of this paper is to investigate the factors that affect the responsiveness of new housing supply to price changes in Denmark, France, Germany, The Netherlands, Spain, the UK and the USA. The practical purpose is to identify and consider the similarities and differences in the factors that affect new housing supply amongst the selected countries.

Quantitative estimates of the price elasticity of new housing supply were reviewed and evaluated. Generally they were found to describe and measure but not explain variations in housing supply responses to house price changes. Qualitative research was undertaken based on case study interviews with experienced senior managers of house‐building firms with the objective of obtaining insights into the variables affecting housing supply in each country.

First, quantitative studies provide necessary but insufficient explanation of the factors determining new housing supply. Second, there are a large number of macro‐economic, micro‐economic and institutional factors that explain new housing supply which appear to vary in absolute and relative importance between countries.

The primary research findings are based on a small number of case study interviews. Further work is required to confirm the insights using more interviews and/or large‐scale surveys. The work could also be undertaken at other times in different market conditions.

Factors explaining variations in new housing supply in each country have been shown to vary amongst countries. Policy makers can address these factors in achieving balance between supply and demand, and in understanding what needs to be done to increase new housing supply.

The research demonstrates the value of adopting a pluralist methodology in measuring and explaining the causes of variations in new housing supply.

This chapter provides an account of the multi-dimensional injustices faced by public housing tenants in inner-city Salford; a contemporary, post-crash ‘austerity’ British city.

Two phases of qualitative empirical fieldwork were conducted by the author between 2003 and 2016 supplemented by documentary research and analysis of media articles released since 2009.

The empirical data presented demonstrates the challenges of living in partially gentrified, partially abandoned, semi-ensnared spaces. Salford is a city where ‘austerity’ has hit hard; where household incomes, social services and public housing tenancies have been undermined to such an extent that many live in extremely uncertain conditions. This has occurred against the backbeat of longer term restructuring where the state has been rolled back, out and back again at a bewildering rate, shunting residents from one logic of renewal and retrenchment to another.

This chapter looks beyond what can seem like linear accounts of restructuring within ‘planetary’ accounts of neoliberal urban transformation and recognizes the chaos of urban renewal and welfare state retrenchment in the global Northern urban periphery. In so doing, it argues we have a better platform for understanding the nuances of residents’ responses, resistances and relations on the ever-shifting ground.