...an efficient market? Or is Australia in the midst of a housing bubble that can jeopardise the stability of the financial system/economy? At a first glance, from all the media speculation and coverage on the Australian Property market, I believed that the Australian housing market was showing increased prices due mainly to foreign investment. But after undertaking The Financial System subject at UTS, as well as researching and gaining a greater insight into the matter I can state that my hypothesis is in fact that Australia's housing market is inconsistent with that of an efficient market, although it cannot be labelled as a ‘bubble' as a bubble only truly exists once it pops (Duke, 2015). In an efficient housing market, an increase in the demand for property will see an increase supply. Although as seen in Australia over the past decade, this increased demand has far exceeded the supply and driven prices up drastically. Analysis done by the ANZ has indicated that although NSW is on track to construct 56,000 new homes next financial year, demand is expected to grow to 63,000 leaving a shortage of supply by 7,000 and a total housing shortage of 99,137 in NSW alone (Irvine, 2016). This housing shortage is causing frustrating for aspiring first home buyers like myself as prices continue to increase. The Federal Governments initial First home buyers grant of $15,000 for those purchasing property under $750,000 has only led to a further increase in median housing prices driven...
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...willing and able to purchase 50 litres per week, on average. If the price drops to $1.75 per litre, they may be able to buy 60 litres. At $1.50 per litre, they may be prepared to purchase 75 litres. Note that while some gas usage is essential – driving to work, for example – some use is optional. Therefore, as gas prices drop, people may choose to make more optional trips during weekends, and so on. This figure above illustrates the law of demand: as price falls, the corresponding quantity demanded tends to increase. Since price is an obstacle, the higher the price of a product, the less it is demanded. When the price is reduced, demand increases. So, there is an “inverse” relationship between price and quantity demanded. However, the market for oil is unusual, because, in the short-term, both demand and supply are highly inelastic. Irrespective of...
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...ANDLEEB TITLE HOUSING FINANCE TABLE OF CONTENT ABSTRACT RELATED TO HOUSING INDUSTRY 3 INTRODUCTION 4 LITERATURE REVIEW 7 METHODOLOGY 11 VARIABLES DEPENDENT AND INDEPENDENT 13 DATA ANALYSIS 15 CONCLUSION 21 RECOMMENDATIONS 22 REFERENCES 22 ABSTRACT RELATED TO HOUSING INDUSTRY: PURPOSE: The purpose of this research paper is to examine analyzing and outlining the growth of the housing industry and its rights. The main purpose is to eliminate the problem related to the relevancy and application of housing complexities and its systems across the world. DESIGN OR METHODOLOGY: This paper is set out according to the principle instruments and the rights of development of housing regional and other related bodies. The analysis of the housing system is basically organized on the basis of housing system of development and channels and networks of legal and lawful means of professional concerns and their domains. FINDINGS: All across the world the rights for housing is being considered as a lawful and constitutional concerned nationally and internationally. The findings also suggest the significance of housing rights and the conceptual frame work of human rights effect the implementation. Professional epistemic community development of the housing shape the policies and procedures and laws. The paradiagm of housing foundation and rights are effectively translated into developed fashion of designing housing system. RESULTS: Collection of data...
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...student housing assessment in collaboration with the efforts of XX’s administrative faculty and teaching faculty. The purpose of this study was to analyze on- and off-campus student housing which is current and past as well as nearby off-campus housing most utilized by XX’s undergraduate and graduate students. The analysis included XX’s student interviews, a student survey, a survey of parents of students, and an off-campus housing analysis. The major findings of the study were that even though XX is providing sophisticated partnered housing plans, the current housing scenario doesn’t fulfill the future demand and doesn’t provide single occupancy plans. Also, parents of the students are in favor of on-campus university plans. The three major conclusions of the study were that XX establish comprehensive on-campus university housing plan, develop more university partnered off-campus housing plans to ensure and fulfill long term and future demand and develop a great number of single occupancy unit types. Contents Title 1 Abstract 2 1. Introduction 4 2. Body 5 2.1 Current Housing Plan 5 2.1.1 Residences on Market 6 2.1.2 Market View Place 6 2.2 Methodologies & Findings 6 2.2.1 Student Interviews 7 2.2.2 Students Surveys 7 2.2.3 Parent Surveys 7 2.2.4 Off- Campus Market Analysis 7 2.2.5 Findings of Efforts 8 2.3 Conclusion and Recommendations. 8 Bibliography 9 1. Introduction The goal of the XXXX University student housing assessment...
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...Urban Housing Markets in China Yongzhou Hou Stockholm 2009 Report 88 Building and Real Estate Economics Department of Real Estate and Construction Management Royal Institute of Technology Kungliga Tekniska Högskolan © Yongzhou Hou 2009 Royal Institute of Technology (KTH) Building & Real Estate Economics Department of Real Estate and Construction Management SE – 100 44 Stockholm Printed by Tryck & Media, Universitetsservice US-AB, Stockholm ISSN 1104-4101 ISRN KTH/BFE/M-09/88-SE ISBN 978-91-977302-5-9 Abstract This thesis focuses on problems of prices and risks in the housing markets of urban China. What drives the dynamics of housing prices across regions is not only of great interest for academic researchers but also of first importance for policy makers. It is also interesting to pay attention to the issue of housing bubbles at a city level and risk allocations from an institutional view. To address the issues, the thesis applies both qualitative and econometric approaches in analyzing the urban housing markets of China. The first paper reviews articles mainly published in Chinese core journals. The existing studies are mainly concerned with such six topics as institutions, policy, land, finance, price and market. The first three topics involve the public housing allocation system reform, such fiscal and monetary tools as tax and interest rate, and the land reserve system. The housing finance treats such subjects of mortgages, bubbles and financial systems...
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...examine the nature of housing bubbles and how housing prices are affected by the elasticity of housing supply. They begin by citing from literature to show that price movements of assets, including markets, include an irrational exuberance element as well as their fundamental valuations; this leads to the difficulty in explaining the significant variations in housing prices between 1999 and 2005. As a result, instead of developing a test to detect the presence of a housing bubble, the authors propose to analyze the nature of this bubble; this is especially in light of the fact that housing supply and pricing influence construction activities as well as population immigration, thus impacting general welfare. They develop an endogenous model for asset bubbles by making it dependent on supply inelasticity – the model predicts that when a bubble bursts, houses that are constructed during the bubble witness their prices falling to lower than their pre-bubble values. Further, they also perform an empirical analysis of data on prices, construction activities and supply elasticity of houses during two boom-and-bust cycles (during the 1980s and post-1996); they also study the differences in pricing and supply levels during these cycles. It is observed that the premise of the paper is well established, and the proposed models clearly defined; the predictions from the models are identified properly in terms of stated elastic markets (Orlando and Phoenix), and a previous housing bust (1989-1996)...
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...Name Professor Course Date Economic analysis of the current residential housing market in Houston INTRODUCTION This paper provides an economic analysis of the current market for single family homes in Houston. Over the past few years, the real estate market has been declining in most states where prices of homes have been falling. In addition, the number of home buyers has been falling in most cities over the past few years, even after recovery of the economy from the 2008/2009 global financial crisis. However, in Houston, Texas, the real estate market has experienced a stable growth for the last 21 months (HAR 2013). According to a report by Houston Association of REALTORS®, home buyers in Houston increased by 15.5% in February 2013 as compared to the same month last year (HAR 2013). In Houston City, single family homes constitute about 76.5% of the total housing population. During the month of February 2013, 4,407 single family homes were sold in Houston. Single-family home average sales price increased by 9.6% to $220,445 from $201,113 in February last year. The median price also increased by 7.9% to $161,700 in February 2013 (HAR, 2103). Median price is the price at which half of the homes were sold. The above information is summarised in the table below. | February 2012 | February 2103 | Change | Single-family home sales | 3,815 | 4,407 | 15.5% | Single-family average sales price | $201,113 | $220,445 | 9.6% | Single-family median sales price | $149,900 | $161,700...
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...The Research Proposal For The Relationship among Shanghai Commercial Housing Price and Four Variables, Disposable Income, Completed Housing Area, Interest Rate, and Inflation Rate (2007-2010) BY FIN (2) Yang Bohan 0730200084 Tel: 13750016724 Guo Bingyu Liu Yuanjia Xia Jinjing Teng Linyan Li Hui 0730100034 0730100086 0730200079 0730200063 0730200148 Beijing Normal University – Hong Kong Baptist University United International College May 14, 2010 0 Table of Content 1. 2. 3. 4. 6. 7. 8. Title ........................................................................................................................................... 4 Introduction ..............................................................................
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..._______________________________________________ Approved/Disapproved: ______________________________________________ Signature: ______________________________________________ Date: ______________________________________________ Comments: ______________________________________________ ______________________________________________ _______________________________________________ _______________________________________________ Abstract The need to encourage house or homeownership has been in the government’s strategic plan since 1934, however, the current financial policies and practices in the housing finance and the mortgage market has characterized by minimum flow of capital in the secondary mortgage market, confusion on the main control authority and various ill practices. This fact has necessitated various changes in the house and homeownership financial. This study collected both primary and secondary data, and found out that the government must set the right policies that will empower house and home consumers to circumvent biased practices and practice informed decision making, these sentiments. There must be improvement in the foreclosure processing and mortgage servicing, notably, from the beginning of the last financial crisis, foreclosures and NAR tried to work with administrators and regulators to formulate criteria for decreasing the risk of foreclosure. There should be increased...
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...COMILLA UNIVERSITY DEPARTMENT OF MARKETING Prepared By: Easir al Newaz (Arif) Phone: 01717520085(zero one seven one seven five two zero zero eight five ) Term paper Subject: SWOT Analysis Supervised By: Md Abdullah Assistant Professor & Chairman Department of Marketing Comilla University Prepared By: Easir Al Newaz ID No: 12020718 EMBA- 2nd Batch (summer) 2012 Department of Marketing Comilla University Date of Submission: 04.08.2012 SWOT Analysis A scan of the internal and external environment is an important part of the strategic planning process. Environmental factors internal to the firm usually can be classified as strengths (S) or weaknesses (W), and those external to the firm can be classified as opportunities (O) or threats (T). Such an analysis of the strategic environment is referred to as a SWOT analysis. The SWOT analysis provides information that is helpful in matching the firm's resources and capabilities to the competitive environment in which it operates. As such, it is instrumental in strategy formulation and selection. The following diagram shows how a SWOT analysis fits into an environmental scan: SWOT Analysis Framework Environmental Scan /\ Internal Analysis External Analysis / \ / \ Strengths Weaknesses Opportunities Threats | SWOT Matrix S= Strengths A firm's strengths are its resources and capabilities that can be used as a basis for developing a Competitive advantage. Examples of...
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...SOURCE 6 1.5.2. METHOD OF ANALYSIS 7 1.6. LIMITATION OF THE STUDY 7 CHAPTER TWO 8 2. REVIEW OF LITRATURE 8 2.1.MATERIALS MANAGEMENT 8 2.2. OBJECTIVES OF MATERIALS MANAGEMENT 9 2.3. PRICE DETERMINATION 10 2.4. INFLATION 13 2.5. HOUSING THE POOR 13 2.6. Integrated Housing development program 17 2.7. Hawassa city housing development project office 19 2.8. Different type of houses and price of transferring 20 CHAPTER THREE 21 3. DATA PRESENTATION, ANALYSIS AND INTERPRETATION 21 3.1. Beneficiary (dwellers) characteristics (sample population) 21 3.2.1. TYPE OF HOUSES ASSIGNED FOR BENEFICIARY IN THE SAMPLE…. 25 3.2.2. DWELLERS WILLINGNESS TO BUY HOUSES 26 3.2.3. PRICE OF HOUSES AND THE FACTORS THAT AFFECTS THE PRICE OF HOUSES ………………………………………………………………………………...26 3.2.4.CONSTRUCTION MATERRIALS AND THE MARKET PRIC………………..27 3.2.5.GENERAL OPINION OF DWELLERS 28 3.2.6. PRICE OF CONSTRUCTION MATERIALS AND BENEFICIARY OPINION.29 CHAPTER FOUR 33 4. CONCLUSION AND RECOMMENDATION 33 4.1. CONCLUSION 33 4.2 RECOMMENDATION --------------------------------------------------------------------- 34 Bibliography………………………………………………………………. 36 Appendix I …………………………………………………………… 37 Appendix II ………………………………………………………… 38 CHAPTER ONE INTRODUCTION BACKGROUND OF THE STUDY Ethiopian urban centers face a number of socio-economic problems. Unemployment, poverty, weak economic base, growing housing problem and slum dwelling with...
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...paper provides an analysis of the determinants of mortgage rates in Kenya. The study was restricted to the period 2006-2012 quarterly data. During the analysis, mortgage rates were regressed against the CBR rate, inflation, bond rate and Household income for the period under study. The study utilized the Ordinary Least Squares method of econometric estimation to estimate the model. This method is chosen because of its simple and straightforward ability to show the linear relationship among Mortgage Rates, bond rates, inflation, Household income and CBR rate. The regression was done on the logs of the data variables because they change by rates other than certain amounts; this made it logical to take logs because the regression was to seek a linear relationship. From the results it can be concluded that bond rates and inflation had a negative influence on Mortgage rates in Kenya for the period under study. CBR rate and Household income depicted a positive influence on the same. This led to the conclusion from the study that CBR rate and Household income had direct influence on the mortgage rate than inflation and bond rates; other variables like loan to value ratio and density of banks should be included in the model like in the Carlo 2010 Euro system regressions. Key words: Mortgage Rates, CBR rate, Bond Rate, Inflation, Household Income 1.0 INTRODUCTION The Kenya mortgage finance history dates back to 1980s and 1990s where there were 20 housing...
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...innovative design. Currently CHC is experiencing challenges in generating profitable income and meeting shareholder’s objective of annual dividends. It remains unprofitable due to rising material and labor costs, and the cyclical nature of the real estate industry. In addition, quality issues have created negative publicity that threatens the reputation of CHC. The purpose of this report is to analyze strategic and operational issues with CHC and to provide recommendations to improve the performance of the company. CHC’s external opportunities and threats that affect the company’s decision on its strategic alternatives include: increasing popularity of prefabricated housing, high demand of renovation, labor shortage, and a shortage of land available for development. In light of its internal analysis and external environment, CHC must: 1. Pursue renovation services 2. Manufacture prefabricated homes 3. Reject GH’s joint venture proposal 4. Reject rental property development proposal 5. Divest Maritimes Division To mitigate the various operational issues: 1. Declare bankruptcy for its European subsidiary 2. Implement a rating system to ensure consistent quality among performance of subcontractor’s performance 3. Establish a Board of Director (BOD) succession plan to ensure consistency in operations By implementing the new strategic direction and the recommendations outlined in this report for the company’s operational issues, CHC will...
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...................................... 4 Company Vision................................................................................................ 4 Focused Project................................................................................................. 5 Part 2: Environmental Analysis....................................................................... .......... 6 Remote Environment......................................................................................... 6 Industry Environment......................................................................................... 7 Part 3: SWOT Analysis.......................................................................................... 8 Strengths........................................................................................................ 8 Weaknesses...................................................................................................... 9 Opportunities................................................................................................... 9 Threats........................................................................................................... 10 Part 4: Financial Analysis............................................................................................ 11 Pricing...
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...1.1. INTRODUCTION Housing finance or mortgage is the pledging of a property to a lender as a security for a mortgage loan which not only enables access to homeownership but also to meet basic needs – a means of economic empowerment. The mortgage market in Ghana, since it is inextricably linked to a country’s economic development by strengthening financial institutions, promoting social stability and improving people’s lives, should have by now seen enormous growth, culminating in affordable houses for Ghanaians. This, however, is not the case as of now. Government role in the management of the nation’s economy in general and mortgage lending in particular has been analyzed and debated many times and undoubtedly it will continue. There is a...
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