Vacancy chains and the degree of mobility in the housing market

Ben‐Shahar, Danny; Sulganik, Eyal

doi:10.1007/s00168-010-0395-3

Cited by 3 publications

(3 citation statements)

References 40 publications

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“…The choice, however, can also be largely shaped by many factors outside of the micro agent’s control. One’s residential or job turnover is inevitably associated with others within the same region through housing and job vacancy chains (Ben-Shahar and Sulganik, 2011; Persky and Felsenstein, 2008; White, 1971). Furthermore, as suggested by institutionalists and political economists, a variety of macro-level forces can generate quite distinct patterns of residential and/or job change trajectory by: (1) expanding or constraining available choice options; (2) altering uncertainties and transaction costs; and (3) modifying many other elements of the context in which the decision is made, and thus, careful consideration of such macro-level factors is needed to obtain a more complete understanding of the mobility dynamics (Cadwallader, 1992).…”

Section: Residential and Job Mobility: Manifestation Of Micro Decisions Under Macro Forcesmentioning

confidence: 99%

“…Secondly, aggregation can enrich and/or facilitate various types of empirical research, because generally data at aggregated scales are more readily available than the individual level, which is often much more restricted due to confidentiality issues. More 4 importantly, the regional perspective can reflect the importance of the context in which individual decisions are made and the critical interlinkages among the numerous individual turnovers within a regional system (through housing vacancy or job vacancy chains -see e.g., White, 1971;Persky and Felsenstein, 2008;Ben-Shahar and Sulganik, 2011). Therefore, a regional (i.e., macro) perspective can complement micro-level approaches to understanding the nature of mobility dynamics (Cadwallader, 1989 and1992).…”

Section: Introductionmentioning

confidence: 99%

“…More importantly, the regional perspective can reflect the importance of the context in which individual decisions are made and the critical interlinkages among the numerous individual turnovers within a regional system (through housing vacancy or job vacancy chains – see e.g. Ben-Shahar and Sulganik, 2011; Persky and Felsenstein, 2008; White, 1971). Therefore, a regional (i.e.…”

Section: Introductionmentioning

confidence: 99%

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Residential and job mobility: Interregional variation and their interplay in US metropolitan areas

Kim

2014

Urban Studies

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While studies on residential and job mobility are typically conducted on a micro scale, an examination of region-wide mobility dynamics can also be meaningful, as it can reflect the importance of system-wide factors and complex interlinkages among numerous micro-level decisions. This study explores how region-wide residential and job mobility rates vary in the U.S. and identifies the factors that shape their variation with emphasis on the interplay between the two mobility variables for the periods before (2005)(2006)(2007) and during (2008)(2009)(2010)) the recent recession. An analysis of the data for 342 U.S. metropolitan areas shows that job mobility had a sizable positive impact on residential mobility during both time spans, while the reverse connection was found to be relatively weaker and context-sensitive. The analysis also detects the critical roles of housing market conditions and regional economic structures, suggesting that mobility decisions are largely shaped by various macro-level factors.

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Section: Residential and Job Mobility: Manifestation Of Micro Decisions Under Macro Forcesmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Residential and job mobility: Interregional variation and their interplay in US metropolitan areas

Kim

2014

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Dynamics, Risk and Management Performance of Urban Real Estate Inventory in Yangtze River Delta

Zhang

Chen²,

Zhao³

et al. 2022

Buildings

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(1) Background: Inventory management is a key point in the achievement of the virtuous cycle and sustainable development of the real estate industry. In response to the practical needs of city-based policies, this paper constructs a new research approach of “evolution dynamics—risk analysis—performance evaluation—policy design” of real estate inventory, and conducts a case study on the Yangtze River Delta. (2) Methods: This paper studies the change characteristics, trends and spatial patterns of real estate inventory changes in the Yangtze River Delta based on Geographic Information System software, and quantitatively evaluates the risk level and management performance of real estate inventory by introducing the Boston Consulting Group Matrix for corporate management and the Super- Data Envelopment Analysis Model for operations research, providing a basis for policy design. (3) Results: First, the “destocking” policy has gained results to some extent and diversified the inventory evolution, thus alleviating or curbing the negative trend in most cities. Second, the real estate inventory in the Yangtze River Delta is divided into high, low, potential and zero pressure zones by risk levels, and the proportion of cities with increased, decreased and unchanged risk levels is essentially the same. Third, the average real estate inventory management performance index has been steadily improving, but overall, it is still unsatisfactory, with cities in an effective state accounting for 40% and below for a long time. Fourth, real estate inventory and its management performance both show significant spatial effects, with cold and hot spot cities characterized by a “center-periphery” spatial pattern in geographical distribution, and the cities in the study area are classified into four types: super-efficiency, efficiency, inefficiency, and super-inefficiency. Fifth, the real estate inventory in most cities is continuing to grow positively, and a small number of cities have been in the high-risk zone for a long time or become new members of the high-risk zone, making the government and enterprises still faced up with great pressure and challenges in inventory management with the risk level further increased but management performance growing slowly. (4) Conclusions: The study area is divided into four types of policy areas, that is, red key area, yellow important area, green auxiliary area, and path-dependent area, and suggestions for optimization are made from the perspectives of risk control, performance improvement, benchmarking recommendation, and redundancy governance, providing a basis for the government’s real estate inventory management policy design and the enterprise’s high-quality development decision.

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Change Characteristics and Multilevel Influencing Factors of Real Estate Inventory—Case Studies from 35 Key Cities in China

Zhao

et al. 2021

Land

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High inventory is a common issue in urban real estate markets in many countries, posing a threat to the sustainable development of macroeconomics and society. This study built an analytical framework for the evolution of real estate inventory and its driving mechanisms and conducted an empirical study on 35 key cities in China. The findings show that, first, China has a huge real estate inventory with significant spatial heterogeneity. Second, the real estate inventory in China first rises and then falls, presenting an inverted U-shaped change trend; however, the spatial heterogeneity first falls and then rises, characterized by a U-shaped evolutionary change. Third, the present characteristics and evolutionary paths vary among different types of real estate inventory, mainly showing growth, stability, and inverted U-shaped changes. Fourth, the influencing factors of real estate inventory are increasingly diversified, and different factor pairs show bifactor-enhanced and nonlinearly-enhanced interaction effects, with a more intricate and complex driving mechanism. Fifth, four types of policy areas were divided according to the Boston Consulting Group Matrix, and it is recommended that the design of de-stocking policies should be dominated by “key factors” for cities in the stars and cows policy areas, while “important factors” and “auxiliary factors” should be equally emphasized for cities in the question policy area; the cities in the dogs policy area should keep the status quo as much as possible with avoidance of undesirable or excessive interventions.

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Vacancy chains and the degree of mobility in the housing market

Abstract: J60, R23,

Cited by 3 publications

References 40 publications

Residential and job mobility: Interregional variation and their interplay in US metropolitan areas

Residential and job mobility: Interregional variation and their interplay in US metropolitan areas

Dynamics, Risk and Management Performance of Urban Real Estate Inventory in Yangtze River Delta

Change Characteristics and Multilevel Influencing Factors of Real Estate Inventory—Case Studies from 35 Key Cities in China

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