The Effect of Transportation, Location, and Affordability Related Sustainability Features on Mortgage Default Prediction and Risk in Multifamily Rental Housing
ثبت نشده
چکیده
Introduction This study examines the relationship between a certain set of sustainability features and default risk in multifamily housing. The sustainability features studied affect both social and environmental concerns including affordability, walkability, auto dependence, exposure to pollution, and proximity to protected open space. All the features studied, except housing affordability, are a function of property location. Various physical and operational characteristics of buildings, such as energy and water efficiency, which are also important to sustainability, could not be studied due to data limitations.
منابع مشابه
Walk Score and Multifamily Default: The Significance of 8 and 80
Introduction This paper examines the relationship between Walk Score, a widely available indicator of walkability, and mortgage default risk in multifamily rental housing. It shows that very high and very low Walk Scores significantly affect default risk. Where Walk Score is 80 or more (out of 100) the relative risk of default is 60% lower than where Walk Score is less than 80. Where Walk Score...
متن کاملDeterminants of Operating Costs of Multifamily Rental Housing
Operating costs are an important, but not much studied, component of apartment financial performance. This paper establishes an economic framework for interpreting operating costs and uses a unique data set to investigate the determinants of operating costs. Empirical results are consistent with theory and indicated that housing quality is a strong driver of operating costs; older properties mu...
متن کاملEnergy Efficiency and its Relationship to Household Income in Multifamily Rental Housing
This paper examines the energy efficiency of multifamily rentals in comparison to other housing types and its relationship to household income. It analyzes 2005 and just‐released 2009 data from the U.S. Residential Energy Consumption Survey and finds that multifamily rentals were significantly less energy efficient than other types of housing, both nationwide and in every region of the country....
متن کاملThe Study of Determinants of Rent Housing in Ilam City Based on Hedonic Spatial Econometrics
Abstract: Housing unit is heterogeneous and multidimensional commodity; therefore, to determine effective factors on rent, hedonic pricing model is used. To explain the factors, four properties are used for housing, which are physical variables of residential units, access variables, environmental variables (neighborhood), and economic and social characteristics. The variables related to the sp...
متن کاملIncome Inequality and Housing Affordability in Selected Metropolises of Iran: A Pseudo-Panel Approach
Housing is one of the most important and most expensive assets of the human life. It is an expensive commodity that requires long-term planning to purchase it, so housing affordability in the household budget portfolio is one of the most important issues. In this paper, based on Zhang (2015) model and Matlack and Vigdor (2008) study and using a cross-sectional household income - expenditure mic...
متن کامل