| 1. |
- Andersson, Roland, et al.
(author)
-
Elimination of Rent Control in the Swedish Rental Housing Market : Why and How?
- 2012
-
In: Journal of Housing Research. - : Informa UK Limited. - 1052-7001 .- 2691-1337. ; 21:2, s. 159-181
-
Journal article (peer-reviewed)abstract
- If housing market rent control is completely eliminated, welfare gains may arise from tenant redistribution. The amount of such welfare gains is estimated at approximately SEK 20 billion (approximately USD 3 billion) for inner Stockholm. In addition, welfare gains may arise from the production of new housing. We demonstrate that total deregulation is preferable to partial deregulation limited to new housing. Furthermore, inefficient overproduction of new housing would follow partial deregulation. Tenants facing rent increases if rent control were phased out would suffer welfare losses, and should be compensated to fulfill the Pareto criterion. Various compensation models could be used, as analyzed here. The amounts necessary to fully compensate tenants in attractive submarkets may be substantial. The Pareto criterion is not necessarily a desirable guideline for politicians if it implies huge wealth redistribution; it is still, however, a natural criterion in connection to all welfare economic analysis.
|
|
| 2. |
- Carolin, Pommeranz, et al.
(author)
-
Spatial spillovers in the pricing of flood risk : Insights from the housing market
- 2020
-
In: Journal of Housing Research. - : Taylor & Francis. - 1052-7001 .- 2691-1337. ; 29:sup1, s. S54-S85
-
Journal article (peer-reviewed)abstract
- In this study, we analyse how, and to what extent, direct and indirect effects (spatial spillovers) matter when estimating price effects for a property location in a flood zone. Unlike the previous literature, we show the importance of indirect effects resulting from a neighbourhood being situated in a flood zone. Additionally, the type of indirect effects (global vs. local) needs to be determined theoretically or empirically using an appropriate spatial model comparison approach. Using the Bayesian model comparison for data related to the flood-prone city of Dresden, Germany, we find strong evidence for a spatial Durbin error model which controls for local spillover effects. These indirect price effects amount to -6.5% for houses and -4.8% for condominiums. However, direct effects diminish when controlling for spatial spillovers. Our results are mostly robust across different model specifications, urban areas, and risk-adjusted prices that include future insurance costs, thus providing evidence of the importance of addressing indirect effects in the form of local spillovers in the analysis of flood zone effects. Ignoring indirect flood effects when formulating policy can lead to flood management that is inefficient and not cost-effective, as the economic consequences of flood are underestimated.
|
|
| 3. |
- Mandell, Svante, 1970-, et al.
(author)
-
Willingness to pay for sustainable housing
- 2011
-
In: Journal of Housing research. - : Informa UK Ltd. - 1052-7001 .- 2691-1337. ; 20:1, s. 35-53
-
Journal article (peer-reviewed)abstract
- This paper analyzed the differences between house buyers when valuing environmental characteristics associated with the house. The theoretical framework used is based on hedonic modeling, but the second stage is estimated by assuming a translog utility function. This technique is used to estimate the non-marginal willingness to pay for environmental housing attributes and whether an environmentally aware household has a higher willingness to pay or not. The findings reveal that there is a positive willingness to pay for environmental attributes and it is higher for households who (state that they) are environmentally aware. These results may justify policy measures such as information campaigns.
|
|
| 4. |
|
|
