Regulating Information Asymmetry In The Residential Real Estate Market

Author : Devin Lin
Publisher : Taylor & Francis
ISBN 13 : 1315315394
Total Pages : 297 pages
Book Rating : 4.93/5 ( download)

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Download or read book Regulating Information Asymmetry in the Residential Real Estate Market written by Devin Lin and published by Taylor & Francis. This book was released on 2017-07-06 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book conducts a detailed examination of the current form of the Hong Kong residential property regulatory system: the 2013 Residential Properties (Firsthand Sales) Ordinance (Cap 621). The author sheds light on how the new legislation promotes a number of values including information symmetry, consumer protection, the free market and business efficacy. It provides a detailed account of how the regulatory mechanism has evolved over the past three decades to catch unconsscionable sales tactics (such as selective information and/or misrepresentation of location, size, completion date and past transactions) and monitor sales practices in order to protect the interests of stakeholders in this ever-changing first-hand residential property market. This book breaks down this complicated subject matter by focusing a number of chapters each on a specific attribute of the residential property on sale. It then examines the various channels through which the information is communicated to the prospective buyer and discusses misrepresentation of the key information in sales of residential properties as criminal liability.The tension between consumer’s rights on one hand and the pursuit of free market principles on the other is but one example of the conflicting values thoroughly discussed in the book, others include superstition vs. modernization and clarity vs. flexibility. Aimed at those with an interest in consumer protection and transparency-orientated legislation in commercialized real estate transactions, this book seeks to provide an in-depth discussion of the latest trends and directions of travel.

Author : Rebecca L. H. Chiu
Publisher : Taylor & Francis
ISBN 13 : 0429796161
Total Pages : 427 pages
Book Rating : 4.66/5 ( download)

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Download or read book International Housing Market Experience and Implications for China written by Rebecca L. H. Chiu and published by Taylor & Francis. This book was released on 2019-03-18 with total page 427 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent rapid housing market expansion in China is presenting new challenges for policy makers, planners, business people, and citizens. Now that housing in middle-income China is driven by consumer choices and is no longer dominated by state policy decisions, housing policy issues in Chinese cities are becoming increasingly similar to those encountered in other global housing markets. With soaring prices and imbalances in housing supply favoring high income groups and housing demand driven by rising inequality in household incomes, many middle and lower-income households face worsening choices in terms of the quality and location of their housing as well as greater financial difficulties, which together can have negative implications for standards of public health. This book examines the impact of these changes on the general population, as well as on aspiring homeowners and developers. The contributors look at the effect on the widening of wealth gaps, slower economic growth, and threats to political and social stability. Though focusing on China, the editors also present discussions of specific policy design challenges encountered in Australia, Japan, Korea, the Netherlands, the Nordic countries, Singapore, Taiwan, the UK, and the US. This book would be of interest to housing policy makers, as well as academics who are studying the social and political effects of the Chinese housing market.

Author : Clinton Aigbavboa
Publisher : CRC Press
ISBN 13 : 1351012657
Total Pages : 224 pages
Book Rating : 4.52/5 ( download)

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Download or read book Residential Satisfaction and Housing Policy Evolution written by Clinton Aigbavboa and published by CRC Press. This book was released on 2018-07-04 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores residential satisfaction and housing policy trends in developing nations by using subsidised low-income housing examples in South Africa, Ghana and Nigeria as case studies. While there has been much documentation on the formation of residential satisfaction and the evolution of housing policy in developed nations, relatively little has been written about these topics in developing nations. This book provides readers with two major practical insights: The first is focused on the theoretical underpinning of residential satisfaction and the formation of residential satisfaction in subsidised low-income housing through the development of a conceptual framework, while the second is focused on housing policy evolution and its trends in South Africa. In this section of the book, comparative overviews of public housing in two West African countries are provided with an emphasis on the philosophical basis for its development in these countries. The central aim of the book is to provide readers with ideas on residential satisfaction formation and housing policy trends in South Africa.

Author : Rebecca Lai Har Chiu
Publisher : Routledge
ISBN 13 : 1315460033
Total Pages : 290 pages
Book Rating : 4.31/5 ( download)

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Download or read book Housing Policy, Wellbeing and Social Development in Asia written by Rebecca Lai Har Chiu and published by Routledge. This book was released on 2018-05-11 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates how housing policy changes in Asia since the late 1990s have impacted on housing affordability, security, livability, culture and social development. Using case study examples from countries/cities including China, Hong Kong, India, Japan, Taiwan, Korea, Malaysia, Bangladesh, Singapore, Indonesia, Thailand and Vietnam, the contributors contextualize housing policy development in terms of both global and local socio-economic and political changes. They then investigate how policy changes have shaped and re-shaped the housing wellbeing of the local people and the social development within these places, which they argue should constitute the core purpose of housing policy. This book will open up a new dimension for understanding housing and social development in Asia and a new conceptual perspective with which to examine housing which, by nature, is culture-sensitive and people-oriented. It will be of interest to students, scholars and professionals in the areas of housing studies, urban and social development and the public and social policy of Asia.

Author : Anthony Owusu-Ansah
Publisher : Routledge
ISBN 13 : 1351590995
Total Pages : 222 pages
Book Rating : 4.90/5 ( download)

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Download or read book Construction and Application of Property Price Indices written by Anthony Owusu-Ansah and published by Routledge. This book was released on 2018-07-11 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: The importance of house prices to households, real estate developers, banks and policy-makers cannot be overemphasised. House price changes affect consumer spending and business investment patterns, which in turn affect the wider macro economy and the entire business cycle. Measuring and understanding house prices is therefore essential to a functioning economy, but researchers continue to disagree on the best methodological approach for constructing real estate indices. This book argues the need for more accurate house price indices, outlines the various methods used to construct indices and discusses the existing house price indices around the globe. It shows how the raw data of property transactions can be prepared for the purpose of constructing indices, discusses various applications of property price indices and empirically demonstrates how the index numbers can be used to model the supply of new houses and to estimate the price elasticity of supply. Essential reading for economists, real estate professionals and researchers, and policy-makers.

Author : Philip Britton
Publisher : Bloomsbury Publishing
ISBN 13 : 1509939245
Total Pages : 743 pages
Book Rating : 4.44/5 ( download)

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Download or read book Residential Construction Law written by Philip Britton and published by Bloomsbury Publishing. This book was released on 2021-07-15 with total page 743 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book to offer a systematic and analytical overview of the legal framework for residential construction. In doing so, the book addresses two fundamental questions: Prevention: What assurances can the law give buyers (and later owners and occupiers) of homes that construction work – from building of a complete home to adding an extension or replacing a shower unit – will comply with minimum standards of design, safety and build quality? Cure: What forms of redress - from whom, and by what route - can residents expect, when, often long after completion of construction, they discover defects? The resulting problems pose some big and difficult questions of principle and policy about standards, rights and remedies, which in turn concern justice more generally. This book addresses these key issues in a comparative context across the United Kingdom, Ireland, Australia and New Zealand. It is an accessible guide to the existing law for residents and construction professionals (and their legal advisers), but also charts a course to further, meaningful reforms of the legal landscape for residential construction around the world. The book's two co-authors, Philip Britton and Matthew Bell, have taught in the field in the UK, Australia and New Zealand; both have been active in legal practice, as have the book's two specialist contributors, Deirdre Ní Fhloinn and Kim Vernau.

Author : Mike C. I. Nwogugu
Publisher : John Wiley & Sons
ISBN 13 : 1118177711
Total Pages : 299 pages
Book Rating : 4.16/5 ( download)

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Download or read book Risk in the Global Real Estate Market written by Mike C. I. Nwogugu and published by John Wiley & Sons. This book was released on 2012-01-26 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essential reading for professional investors, risk managers, regulators, central bankers, and real estate professionals, Risk in the Global Real Estate Market: International Risk Regulation, Mechanism Design, Foreclosures, Title Systems, and REITs takes an international look at the ways in which U.S.-style constitutional laws, financial laws, and real estate laws in various countries affect global economics and risk; and analyzes specific constraints that deter market development such as Asset Liability Matching, inappropriate financial products, land title systems, inefficient constitutions and human biases. The sub-prime mortgage crisis (that began around 2006) and the Global Financial Crisis of 2007–2010 disrupted the economies of various countries and exposed many of the psychological, social, and economic problems inherent in the legal/risk infrastructure for mortgages, land title systems, REITs, securitization, and pensions. In this remarkable new book, Michael Nwogugu explains how these processes and statutes are unconstitutional and inefficient, and how they influence demand for housing, real estate prices, retirement savings, household wealth, consumer disposable income, marriage opportunities, job markets, crime, and regional economic growth. The resulting major economic and public health problems have continued to reduce the quality-of-life of nations, and continue to cause permanent declines in wealth, increases in crime and delinquency, high divorce rates, depression, and inadequate job creation, among other problems. The book examines a range of fields—including mechanism design, psychology, risk finance, and corporate governance; and emphasizes Constitutional economics as a distinct dimension of risk analysis. Risk in the Global Real Estate Market makes a compelling case about how constitutional torts increase information asymmetry, transaction costs, agency problems, and compliance costs, as well as inefficiency in real estate transactions. These problems, the book argues, are not unique to the United States, but also affect Commonwealth countries and other nations that have developed regulations that are similar to, or are based on U.S. commercial, securities, and or constitutional laws. Risk in the Global Real Estate Market presents a novel analysis of the sub-prime crisis (that first began in 2006), the failure of securitization (CMBS/MBS) markets, the Global Financial Crisis, and socio-economic problems caused by traditional mortgages and securitization. The book reveals that many of the statutes and processes that define mortgages, foreclosures, securitization, and REITs in the United States (and many common-law countries and nations that have adopted American-style real estate regulations) are fundamentally unconstitutional and inefficient, and have lasting negative effects on consumer psychology, the demand for real estate, price discovery in property markets, economic growth, and quality of life. The book examines the nature of constitutional torts and property rights as the foundation for business transactions and economic growth within the context of risk regulation, interstate commerce, takings, and legislation. Risk in the Global Real Estate Market introduces new theories of consumer psychology and institutional dynamics in real estate transactions; presents new theories of takings, and also surveys psychology/psychiatry studies (based on data from various countries) that confirm the harmful effects of mortgages, securitization, and foreclosures. Using elements of mechanism design, Michael Nwogugu develops new efficient financial products (Mortgage-Alternatives products), and presents a policy framework for a unified “Mortgage-Alternatives” market for the CEE/CIS region and China. He also explains why Asset Liability Matching hinders lending, capital formation and risk management, especially in developing countries.

Author : Anna Bolz
Publisher : Springer Nature
ISBN 13 : 3031187431
Total Pages : 324 pages
Book Rating : 4.38/5 ( download)

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Download or read book A Regulatory Framework for the Art Market? written by Anna Bolz and published by Springer Nature. This book was released on 2022-11-24 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses practical issues in connoisseurship and authentication, as well as the legal implications that arise when an artwork’s authenticity is challenged. In addition, the standards and processes of authentication are critically examined and the legal complications which can inhibit the expression of expert opinions are discussed. The notion of authenticity has always commanded the attention of art market participants and the general art-minded public alike. Coinciding with this, forgery is often considered to be the world’s most glamorous crime, packed with detective stories that are usually astonishing and often bizarre. The research includes findings by economists, sociologists, art historians, lawyers, academics and practitioners, all of which yield insights into the mechanics and peculiarities of the art business and explain why it works so differently from other markets. However, this book will be of interest not only to academics, but to everyone interested in questions of authenticity, forgery and connoisseurship. At the same time, one of its main aims is to advocate best practices in the art market and to stress the importance of cooperation among all disciplines with a stake in it. The results are intended to offer guidance to art market stakeholders, legal practitioners and art historians alike, while also promoting mutual understanding and cooperation.

Author : Piyush Tiwari
Publisher : Routledge
ISBN 13 : 1317441362
Total Pages : 262 pages
Book Rating : 4.66/5 ( download)

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Download or read book Delhi's Changing Built Environment written by Piyush Tiwari and published by Routledge. This book was released on 2017-12-22 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rapid expansion, urban form and development of the built environment in the world’s second most populous city, Delhi, has been the consequence of social, political, economic, planning and architectural traditions that have shaped the city over thousands of years. Whilst seamless at times, these traditions have often resulted in the fragmented development of the city’s built environment. This book charts the political, economic and social forces that drove development in India generally and in Delhi in particular, and investigates the drivers and constituents of Delhi’s urban landscape. The book provides a lens through which to examine the development path of a mega-city, which can be used as a guide in the development of emerging urban centres. Furthermore, the strengths and weaknesses of Delhi's built environment are critically analysed, with consideration to the role of the market, finance and policy over time. This book not only provides valuable insight into the physical evolution of Delhi and its surrounds, but it also asks broader questions about how people, power and politics interact with urban environments. It is essential reading for planners, architects, urbanists and social historians.

Author :
Publisher : Elsevier
ISBN 13 : 0080471714
Total Pages : 3870 pages
Book Rating : 4.16/5 ( download)

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Download or read book International Encyclopedia of Housing and Home written by and published by Elsevier. This book was released on 2012-10-09 with total page 3870 pages. Available in PDF, EPUB and Kindle. Book excerpt: Available online via SciVerse ScienceDirect, or in print for a limited time only, The International Encyclopedia of Housing and Home, Seven Volume Set is the first international reference work for housing scholars and professionals, that uses studies in economics and finance, psychology, social policy, sociology, anthropology, geography, architecture, law, and other disciplines to create an international portrait of housing in all its facets: from meanings of home at the microscale, to impacts on macro-economy. This comprehensive work is edited by distinguished housing expert Susan J. Smith, together with Marja Elsinga, Ong Seow Eng, Lorna Fox O'Mahony and Susan Wachter, and a multi-disciplinary editorial team of 20 world-class scholars in all. Working at the cutting edge of their subject, liaising with an expert editorial advisory board, and engaging with policy-makers and professionals, the editors have worked for almost five years to secure the quality, reach, relevance and coherence of this work. A broad and inclusive table of contents signals (or tesitifes to) detailed investigation of historical and theoretical material as well as in-depth analysis of current issues. This seven-volume set contains over 500 entries, listed alphabetically, but grouped into seven thematic sections including methods and approaches; economics and finance; environments; home and homelessness; institutions; policy; and welfare and well-being. Housing professionals, both academics and practitioners, will find The International Encyclopedia of Housing and Home useful for teaching, discovery, and research needs. International in scope, engaging with trends in every world region The editorial board and contributors are drawn from a wide constituency, collating expertise from academics, policy makers, professionals and practitioners, and from every key center for housing research Every entry stands alone on its merits and is accessed alphabetically, yet each is fully cross-referenced, and attached to one of seven thematic categories whose ‘wholes' far exceed the sum of their parts