Thesis. 1978. M.C.P.--Massachusetts Institute of Technology. Dept. of Urban Studies and Planning. / MICROFICHE COPY AVAILABLE IN ARCHIVES AND ROTCH. / Bibliography: leaves 119-120. / M.C.P.

Thesis (M. Sc.)--University of Hong Kong, 1999. / Includes bibliographical references (leaves 54-55).

Thesis. 1976. B.S.--Massachusetts Institute of Technology. Dept. of Urban Studies and Planning. / Microfiche copy available in Archives and Rotch. / Includes bibliographical references. / by Jill Feblowitz. / B.S.

Thesis advisor: Arthur Lewbel / The thesis includes two essays. The first essay, Inequality Moments in Estimation of Discrete Games with Incomplete Information and Multiple Equilibria, develops a method for estimation of static discrete games with incomplete information, which delivers consistent estimates of parameters even when games have multiple equilibria. Every Bayes-Nash equilibrium in a discrete game of incomplete information is associated with a set of choice probabilities. I use maximum and minimum equilibrium choice probabilities as upper and lower bounds on empirical choice probabilities to construct moment inequalities. In general, estimation with moment inequalities results in partial identification. I show that point identification is achievable if the payoffs are functions of a sufficient number of explanatory variables with a real line domain and outcome-specific coefficients associated with them. The second essay, Tenancy Rent Control and Credible Commitment in Maintenance, co-authored with Richard Arnott, investigates the effect of tenancy rent control on maintenance and welfare. Under tenancy rent control, rents are regulated within a tenancy but not between tenancies. The essay analyzes the effects of tenancy rent control on housing quality, maintenance, and rehabilitation. Since the discounted revenue received over a fixed-duration tenancy depends only on the starting rent, intuitively the landlord has an incentive to spruce up the unit between tenancies in order to show it well, but little incentive to maintain the unit well during the tenancy. The essay formalizes this intuition, and presents numerical examples illustrating the efficiency loss from this effect. / Thesis (PhD) — Boston College, 2009. / Submitted to: Boston College. Graduate School of Arts and Sciences. / Discipline: Economics.

Housing shortage and its impact on the society has been one of the most discussed topics during the past decade. The aim of this thesis was to explore the possible effects the introduction of market rents could have on rental housing. We observe an existing free market which can be seen as a close substitute to the rental market today, namely the market of tenant owned apartments and estimate the possible market rents based on that. Three Swedish cities have been studied. The results showed that there are possible increases and decreases in rents, variation between and within cities as well as variation between the time periods.

published_or_final_version / Real Estate and Construction / Master / Master of Science in Real Estate and Construction

Cette thèse contient trois essais empiriques sur les marchés du logement et les politiques de logement. Dans le premier essai, nous étudions les effets du contrôle des loyers sur les loyers en utilisant des données historiques de panel sur une période de 78 ans à Lyon. Nous utilisons des régressions multiples avec des effets fixes comme principale forme d’analyse. Nos résultats montrent que l’effet causal du contrôle des loyers sur les loyers à Lyon est significativement négatif. Dans le deuxième essai, j’étudie l’influence de l’âge du chef de famille sur la demande de logements grâce à des données sur les ménages en Chine. Le modèle de prix hédonique en deux étapes, utilisé dans cet essai, me permet d’estimer l’effet de l’âge du chef de famille sur la demande de logements, en contrôlant la qualité du logement et les caractéristiques des autres ménages. Les résultats montrent que la disposition à payer, à qualité constante de la maison, diminue légèrement ou reste constante lorsque le chef de famille vieillit, une fois contrôlé le niveau d’instruction du chef de famille. En revanche, il diminue rapidement si le niveau d’instruction du chef de famille n’est pas contrôlé. Par conséquent, cet essai conclut que la demande totale de logements ne devrait pas diminuer avec le vieillissement de la population, parce que la génération actuelle est plus éduquée que la précédente. Enfin, dans le troisième essai, dans le cadre du modèle de Rosen-Roback, j’analyse l’impact des coûts du logement sur le ratio d’intensité des compétences (SIR), dans différentes villes chinoises. Pour éviter les problèmes d’endogénéité, j’utilise à la fois la part des terrains non disponibles et les prix des logements historiques comme instruments des prix actuels du logement. Les résultats montrent que les prix moyens des logements ont des effets positifs significatifs sur le SIR en 2010 lorsque la mobilité des travailleurs est assouplie, mais que les effets sont non significatifs sur le SIR en 2000 lorsque la mobilité des travailleurs était étroitement réglementée. / This thesis contains three empirical essays on housing markets and housing policies. In the first essay, we investigate the effects of rent control on rents using historical panel data in Lyon over a 78-year period. We use multiple regressions with fixed effects as the main form of analysis. Our results show that the causal effect of rent control on rents in Lyon is significantly negative. In the second essay, I study how age influences housing demand based on household level data from China. The two-stage hedonic house price model used in this essay allows me to estimate the pure age effect on housing demand, after housing quality and other household’s characteristics are controlled for. The results demonstrate that the willingness-to-pay for a constant-quality house will decrease slightly or keep constant when a representative household head becomes old, if the household head’s educational attainment is controlled for. In contrast, it will drop rapidly if the household head’s educational attainment is not controlled for. Therefore, this essay concludes that the total housing demand will not decrease with population aging, because the current middle- aged generation get educated more than the current old generation. Finally, in the third essay, in the framework of Rosen-Roback model, I analyze how housing costs affect the ratio of high-skilled to low-skilled workers, explicitly the skill intensity ratio (SIR), across cities in China. To avoid endogeneity issues, I use both share of unavailable land and historical housing prices as instruments of current housing prices. The results show that average housing prices have significant positive effects on the SIR in 2010 when workers’ mobility is relaxed, but insignificant effects on the SIR in 2000 when workers’ mobility was tightly regulated.

Some rental property owners lack risk management strategies that enable them to budget for sustainable profitability. This study provides rental property owners with risk management strategies for sustainable profitability to maintain business stability during market volatility and create stable, well-maintained housing for tenants. A mini ethnographic case study was conducted to determine the key risk management budgeting strategies rental property owners in the greater Seattle area have used to achieve sustainable profitability for at least 10 years. Enterprise risk management was applied to assess the role risk played in small rental property businesses and budgeting for sustainable profitability. Participant observation, interviews, and document review were conducted with rental property owners who had achieved sustainable profitability for at least 10 years. Data analysis software was leveraged to code the data and identify 4 key risk management budgeting strategies that contributed to sustainable profitability. The rental property owners included these 4 risk management budgeting strategies into their business: incorporating risk identification, response, and monitoring into firm strategy; cultivating a risk management network that effectively enabled them to mitigate risk; risk response to industry regulations; and creating a positive social change impact. Building on the results, 4 models of risk management budgeting were created for rental property owners searching for strategies to achieve sustainable profitability. The rental property owners in the study applied these 4 risk management budgeting strategies to achieve sustainable profitability and contribute to positive social change such as improving the well-being of tenants and communities.

The diploma thesis is focused on the problems in the sector of rental and co-operative housing since the nineties of the twentieth century in the Czech Republic. Firstly the thesis deals with the description of the basic concepts such as housing, supply and demand for housing, housing policy and instruments through which it achievs its goals. Further the thesis analyzes the current situation in the housing stock and its allocation to individual sectors. The third chapter concentrates on the issue of rental and co-operative housing. This chapter provides ample space for development of regulation as well as deregulation of rents. The end of the chapter foccuses the attention on the issue of social housing not only in the Czech Republic but also in selected countries of the European Union. The last two chapters deal with state housing support, where in addition to promoting the supply side mentioned is also housing benefit and satisfaction with living in the Czech Republic.

- RESUMÉ The need for housing is undoubtedly one of the basic human needs of each individual. Not everyone, however, is the owner of the house or the apartment. To address this situation, when do not have their own housing, serves the institute of the tenancy. Here, however, the two interests conflict groups clash, landlords and tenants, who represent completely different interests. This is one of the reasons for states to actively intervene to the tenancy to ensure the right to housing for the tenants and also to protect property rights of the landlords. Many states came to the way of the housing policy, which is based on the belief that the tenant is the weaker party to the lease. In this way, this is a legal regulation of the rent and the lease. My thesis, entitled "The legislation regulating tenancy - a regulated rent" aims primarily to describe developments in this area in the Czech Republic in the last 20 years, noted that the regulation of the rent is definitely not just a phenomenon of this decade. The work focuses primarily on the regulation of the rent, as is clear from its title, because this has become a main topic of many debates and tries to describe the deregulatory efforts in the Czech legal order for the last period, including the achieved result, which at the time of the...