| 1. |
- Donner, Herman, et al.
(författare)
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An income-distributional analysis of the rent control subsidy
- 2023
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Ingår i: Journal of Housing and the Built Environment. - 1566-4910. ; 38:4, s. 2729-2749
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Tidskriftsartikel (refereegranskat)abstract
- Rent control measures are typically in place to assist low-income households and decrease segregation. Yet, there is little empirical research on the social impact of such policies and specifically the role of how rent-controlled apartments are allocated. This study analyzes the income-distributional effects of rent control with a novel dataset that includes characteristics of those who received rent-controlled apartments between 2011 and 2016 in central Stockholm, Sweden. Specifically, this paper provides analysis of the impact of allocating apartments through a centrally managed queue with apartments from both public and private landlords. To quantify the rent subsidy, we estimate hypothetical market rents by taking the owner-occupied market as a point of deviation. We find a positive relationship between the rent subsidy and time in que. Apartments in the fourth quartile of subsidy require on average 21 years in que, while those in the first quartile require 10 years on average. There is considerably heterogeneity in the level of rent subsidy, and tenant income. Even as allocating through queuing should benefit high-income households less than allocation based on landlord preferences, we find several regressive effects. Controlling for time in queue, we find that tenants in the fourth quartile of annual income receive monthly rent subsidies that are substantially higher than renters in the first quartile of income. Similarly, rental apartments in the fourth quartile of the subsidy have older tenants with substantially higher incomes compared to less subsidized apartments. The regressive effect is driven by high earners renting larger apartments with larger absolute subsidies and being able to wait longer in queue.
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| 2. |
- Jonung, Lars, et al.
(författare)
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Från allmännytta till nytta för alla : En samhällsekonomisk analys av Lunds Kommuns Fastighets AB
- 2023
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- Lunds kommun äger LKF, Lunds Kommuns Fastighets AB. LKF i sin tur äger och förvaltar ett stort fastighetskapital. Marknadsvärdet uppskattas till omkring 16 000 miljoner kronor för närvarande. En central fråga infinner sig: förvaltas detta kapital på ett effektivt sätt? Ger den nuvarande förvaltningen en gynnsam avkastning åt medborgarna i Lunds kommun? För att finna ett svar på denna fråga har Lunds kommuns effektiviseringspolitiska råd valt att granska LKF. Syftet för rapporten äratt analysera LKF ur ett samhällsekonomiskt, inte ur ett företagsekonomiskt, perspektiv.
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| 3. |
- Bondemark, Anders, 1989-, et al.
(författare)
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Accessibility and uncertainty : An empirical analysis of option value in transport
- 2021
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Ingår i: Journal of Transport and Land Use. - : Center for Transportation Studies at the University of Minnesota. - 1938-7849 .- 1938-7849. ; 14:1, s. 463-477
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Tidskriftsartikel (refereegranskat)abstract
- Are there option values for transport services? A few studies have tried to answer this question through various stated preference methods, but we do not know much about its magnitude in different contexts. In this paper, we summarize the theory on option value, present previous empirical work concerning transport, and discuss its links to accessibility. Accessibility can be seen as the end product of the transport system, and the argument we pursue is that option value is a component of accessibility. Therefore, estimations of the option value ought to be connected to the marginal accessibility change of an optional transport mode. The concept of substitutability has the potential to meet this criterion. It is the degree to which an alternative trip can replace an initially preferred trip, or, put differently, how accessibility at a location is composed. We conduct an empirical application to test whether the variation in housing transaction prices is associated with substitutability. We find that housing prices are higher where the accessibility is built up by several transport modes, given any level of total accessibility. We interpret this as households, on average, are willing to pay a risk premium to keep optional transport modes available.
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| 4. |
- Bondemark, Anders, et al.
(författare)
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Accessibility and uncertainty : An empirical analysis of option value in transport
- 2021
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Ingår i: Journal of Transport and Land Use. - 1938-7849. ; 14:1, s. 463-477
-
Tidskriftsartikel (refereegranskat)abstract
- Are there option values for transport services? A few studies have tried to answer this question through various stated preference methods, but we do not know much about its magnitude in different contexts. In this paper, we summarize the theory on option value, present previous empirical work concerning transport, and discuss its links to accessibility. Accessibility can be seen as the end product of the transport system, and the argument we pursue is that option value is a component of accessibility. Therefore, estimations of the option value ought to be connected to the marginal accessibility change of an optional transport mode. The concept of substitutability has the potential to meet this criterion. It is the degree to which an alternative trip can replace an initially preferred trip, or, put differently, how accessibility at a location is composed. We conduct an empirical application to test whether the variation in housing transaction prices is associated with substitutability. We find that housing prices are higher where the accessibility is built up by several transport modes, given any level of total accessibility. We interpret this as households, on average, are willing to pay a risk premium to keep optional transport modes available.
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| 5. |
- Hungria-Gunnelin, Rosane, et al.
(författare)
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Brokers’ list price setting in an auction context
- 2021
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Ingår i: International Journal of Housing Markets and Analysis. - : Emerald. - 1753-8270 .- 1753-8289. ; 14:3, s. 481-497
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Tidskriftsartikel (refereegranskat)abstract
- Purpose - The role of list price is often discussed in a narrative describing sellers’ preferences or sellers’ price expectations. This paper investigates a set of list price strategies that real estate brokers have available to influence the outcome of the sale, which may be many times self-serving.Design/methodology/approach - By analyzing real estate brokers’ arguments on the choice of list price level, a couple of hypotheses are formulated with regard to different expected outcomes that depend on list price. We empirically test two hypotheses for the underlying incentives in the choice of list price from the real estate broker’s perspective: (1) lower list price compared to market value leads to higher sales price, (2) lower list price compared to market value leads to a quicker sale. In order to investigate the two hypotheses, we adopt different methodological frameworks: hypothesis 1 is tested by running a classical hedonic model, while hypothesis 2 is tested through a duration model. We further test the hypotheses splitting the full sample into two different price segments: above and below median list price.Findings – The results show that hypothesis 1 is rejected for the full sample as well as for the two sub-samples. That is, contrary to the common narrative among brokers that underpricing leads to a higher sales price, underpricing lower sales price. Hypothesis 2, however, receives support for the full sample as well as for the two sub-samples. The latter result points to that brokers may be tempted to recommend a list price significantly below the expected selling price in order to minimize their effort while showing a high turnover of apartments.Originality/value – Although there are a large number of previous studies analyzing list price strategies in the housing market, this paper is one of the few empirical studies that addresses the effect of list price choice level on auction outcomes of non-distressed housing sales.
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| 6. |
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| 7. |
- Bengtsson, Ingemar, et al.
(författare)
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Push – en film om rätten till en plats
- 2020
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Ingår i: Ekonomisk Debatt. - 0345-2646. ; 48:1, s. 67-70
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Tidskriftsartikel (övrigt vetenskapligt/konstnärligt)
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| 8. |
- Bengtsson, Ingemar, et al.
(författare)
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Återanpassning efter coronakrisen: Nytt liv för stadskärnan
- 2020
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- Coronapandemin har inneburit ett hårt slag för café- och restaurangbranschen då kunderna i stor utsträckning uteblir, dels på grund av rädsla för smitta, dels på grund av uppmaningar från myndigheterna om social distansering. I branschen ärmånga småföretagare utan större ekonomisk buffert. Innan krisen är över kommer sannolikt många företag att ha tvingats lägga ned verksamheter (DN, 2020). Vi föreslår tre åtgärder som kommer att främja entreprenörskap i stadskärnor; liberaliseringar av serveringstillstånd, uteserveringar och lokalanvändning.
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| 9. |
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| 10. |
- Eliasson, Jonas, et al.
(författare)
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Transport Mode and the Value of Accessibility-A Potential Input for Sustainable Investment Analysis
- 2020
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Ingår i: Sustainability. - : MDPI. - 2071-1050. ; 12:5
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Tidskriftsartikel (refereegranskat)abstract
- Accessibility plays an essential role in determining real estate prices and land use. An understanding of how accessibility and changes in accessibility influence real estate prices is key to making decisions regarding investments in infrastructure projects. From an accessibility point of view, it is not clear that there should be differences in valuation depending on the mode of public transport, road, or rail. There are, however, other differences that may affect real estate prices differently. For example, railway stations more often than bus stations, tend to be associated with a higher level of service. In addition, an investment in a railway station may signal a long-term decision from the policymaker. A third possible explanation concerns differences in perceived safety, comfort, and security. This paper aims to study if and how capitalization of accessibility differs between modes of transportation. The findings indicate that rail has a higher impact, both for single-family and multifamily houses. The implication of these findings may be of importance for future infrastructure investments and their corresponding cost-benefit analyses. Incorrect valuations of the benefits of infrastructure investments may result in sub-optimal investments.
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