Essentials of Real Estate Economics / Edition 4

Essentials of Real Estate Economics / Edition 4

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by Dennis J. McKenzie, Richard M. Betts
     
 

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ISBN-10: 0133404315

ISBN-13: 9780133404319

Pub. Date: 12/28/1995

Publisher: Prentice Hall Professional Technical Reference

Real Estate is an essential part of our economic vitality. While the concepts are fundamental to understanding the real estate field, this subject can be challenging and complex. This is precisely why Essentials of Real Estate Economics delivers a straightforward and practical approach to clearly understand the various factors that affect this market and cause real

Overview

Real Estate is an essential part of our economic vitality. While the concepts are fundamental to understanding the real estate field, this subject can be challenging and complex. This is precisely why Essentials of Real Estate Economics delivers a straightforward and practical approach to clearly understand the various factors that affect this market and cause real estate value to change.

Product Details

ISBN-13:
9780133404319
Publisher:
Prentice Hall Professional Technical Reference
Publication date:
12/28/1995
Series:
California Real Estate Series
Product dimensions:
7.58(w) x 10.25(h) x 0.14(d)

Table of Contents

Prefacexvi
Part 1Basic Economic Background for Real Estate Analysis
Chapter 1Introduction to Real Estate Economics1
Chapter 2Review of the Economic Principles of Capitalism6
2.1Basic Economic Concepts7
2.2Economic Principles in Action14
2.3Markets and Prices17
Case & Point: Adam Smith, Economic Philosopher32
Chapter 3Government's Role in the Economy36
3.1The Real World of Markets and Government37
3.2Measuring the Performance of the Economy41
3.3Changes in Economic Activity45
3.4Government Tools of Fight Economic Problems49
Case & Point: Laffer Curve62
Chapter 4Money, Credit, and Real Estate64
4.1The Supply of Money65
4.2The Federal Reserve System73
4.3The Actions of the Federal Reserve Board and Their Effects on Real Estate Activity79
Case & Point: The Economic Impact of the Savings and Loan Crisis88
Chapter 5Important Economic Features of Real Estate92
5.1Economic Characteristics of Real Estate Markets93
5.2How the Real Estate Market Reacts to Changes in Demand96
Case & Point: Demand and Supply Graphics105
Part 2Understanding Real Estate Markets
Chapter 6Regional and Community Analysis119
6.1The Origins of Communities120
6.2Why the Community Grows123
6.3How to Study a Community129
Case & Point: "Where Are We Moving To?"139
Chapter 7Community Growth Patterns141
7.1Land-Use Patterns142
7.2Looking at the Structure of Communities145
7.3Modern City Growth Patterns150
Case & Point: United States and California Statistics: Population and Race167
Chapter 8Neighborhoods: Clusters of Land Use and Value178
8.1The Neighborhood as a Foundation of Value179
8.2Neighborhoods as Barometers of Change181
8.3As Neighborhoods Age186
Case & Point: Neighborhood Preservation: Two Viewpoints197
Chapter 9Housing Markets199
9.1The Demand for Housing200
9.2The Supply of Residential Housing206
9.3Governmental Housing Programs214
Case & Point: Gated Communities-American Apartheid?223
Chapter 10Commercial and Industrial Markets224
10.1Business Real Estate225
10.2Major Economic Characteristics226
10.3Commercial Property229
10.4Industrial Property239
Case & Point: The Revolution in Retailing248
Chapter 11Rural and Recreational Real Estate Markets250
11.1Farmland Markets251
11.2Rural Homes262
11.3Timber and Other Resource Lands267
Case & Point: Should the Government Subsidize Resource Development?277
Part 3Major Influences On Real Estate Development
Chapter 12The Economics of Real Property Taxation281
12.1The Principles of Taxation282
12.2Evaluating the Property Tax288
12.3Real Property Tax Reform294
Case & Point: Tax Talk ... Say What You Mean!304
Chapter 13Land-Use Controls306
13.1Types of Land-Use Controls307
13.2Principles of urban planning311
13.3Recent Trends in Land-Use Controls317
Case & Point: Property Rights: Two Viewpoints328
Chapter 14Real Estate Development330
14.1Real Estate Construction331
14.2The Development and Building Process337
Case & Point: The 1980s: The Build-and-They-Shall-Come-Syndrome350
Chapter 15Required Government Reports353
15.1Types of Required Government Reports354
15.2Costs Versus Benefits358
Case & Point: How Wet Is Wet?367
Part 4Real Estate Investment the Economics of the Parcel
Chapter 16Summary of Real Estate Investment Principles371
16.1Basic Investment Principles372
16.2Real Estate Cash Flow Analysis376
16.3Estimating Price and Rates of Return383
Case & Point: Case Study-Older 10-Unit Apartment Building396
Chapter 17Income Tax Aspects of Investment Real Estate398
17.1Major Income Tax Advantages399
17.2Basis and Depreciation400
17.3Passive Loss Rules403
17.4Calculating and Deferring Gain406
Case & Point: Why Should Interest on Home Loans Be Deductible?417
Chapter 18Applied Real Estate Economics419
18.1Real Estate Investment Variables420
18.2Steps in Real Estate Decision Making424
Case & Point: Where Are We in the Real Estate Cycle?435
Chapter 19Anticipating Change437
19.1Real Estate Issues438
19.2National Changes442
19.3The Uncertain Future447
Answers to Reviewing Your Understanding Questions453
Index458

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