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Real Estate Finance in the New Economy.
This book examines the financing of real estate investment and development within the context of an increasingly integrated international world economy and financial system. The approach shows how real estate financial structures influence general economic development. It also integrates discussions...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Wiley-Blackwell,
2014.
Ã2014 |
| Colección: | Real estate issues (Oxford, England)
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| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- Real Estate Finance in the New Economy; Copyright; Contents; Preface; Acknowledgements; 1 International Economic Developments since the 1970s; Introduction; International trade theories: Setting the scene; International goods and capital flows; Reasons for trade; Theoretical models of trade; The theory of comparative advantage; The Heckscher-Ohlin trade model; The inter-temporal trade model; International trade in capital and the role of international capitalmarkets; The Dunning eclectic paradigm; Porter's model of competitive advantage of nations; Trading blocs and globalisation.
- ConclusionsNotes; References; 2 International Real Estate Markets: Evolution; Introduction; Size of property market; User market; Investment market; Investor profile; Development; Financing of property; International real estate activity and trade models; Conclusions; Note; References; 3 Financial Systems, Flow of Funds toProperty and Innovations; Introduction; Bank-based and market-based financial systems; Property investors and intermediaries; Investment mechanisms; Private investment mechanisms; Public investment mechanisms; Other mechanisms; Innovations.
- Economic assessment of investment mechanismsLease financing; Asset-backed securities; Mortgage-backed securitisation; REITs; Impact of new investment mechanisms on business cultureand practices; Arms length (market) versus relationship (bank based); Conclusions; References; 4 Property Investors, Investment Vehicles and Strategies; Size of property; Investment and investors; Property in investment portfolio; Investment strategies; Core; Opportunistic; Value added; The listed property sector; Property investment and leverage; Conclusions; Appendix 4.1; References.
- 5 Financial Markets, the New Economyand the RiskIntroduction; Value determinants of real estate in the twenty-first century; Economic globalisation; Sustainability; Innovation and preferences; Theorising real estate linkages in the new economy; Financing of real estate in new economy; Leverage and risks; Conclusions; References; 6 Real Estate Asset Bubbles; An introduction to cycles in real estate; Cycles in the use market; Cycles in investment market; Cycles in development market; Expectations and bubbles; Formation of real estate bubbles and its detection.
- Key patterns of past real estate bubblesAsian financial crisis; The U.S . subprime mortgage crisis and the financial crisis of 2008; Explanations in the literature, new economy and role of credit; Conclusions; References; 7 International Capital Flows in Property: Portfolio Diversification or Return Chasing; Introduction; Theoretical considerations in portfolio investment; Direct property in multi-asset portfolios; Direct property in property-only portfolios; Indirect property investment in multi-asset portfolios; Indirect real estate investment in real estate-only portfolios.