We construct a quantitative equilibrium model of the housing market in which an unanticipated increase in the supply of housing triggers default mortgages via its e ect on house prices. The decline in house prices creates an incentive to increase the consumption of housing space, but leverage makes it costly for homeowners to sell their homes and buy bigger ones (they must absorb large capital ...

We study the joint evolution of prices and rents residential property. construct indices for both renter-occupied properties owner-occupied properties. then decompose change in price occupant-owned property into three components: (1) changes rent, (2) relative investor- properties, (3) price-rent ratio. use a simple model to link our decomposition different sources variation house prices. argue...

We use a user-cost model to study how dispersed information among housing market participants a¤ects the equilibrium house price. In the model, agents consume housing services, speculate on price changes and are disparately informed about local economic conditions. Information dispersion leads agent to form heterogeneous expectations about housing demand and prices. Optimists, who expect high h...

A matchmaking system for finding renting houses is required as the housing problem becomes serious in China and many people resort to rent a house. A semantic approach based on abductive conjunctive query answering (CQA) in Description Logic ontologies is exploited to provide more matches for a request about renting houses. Moreover, a matchmaking system based on this approach is developed. Thi...

Mechanical ventilator failures expose patients to unacceptable risks, and maintaining mechanical ventilator safety is an important issue. We examined the usefulness of maintaining mechanical ventilators by clinical engineers (CEs) using a specialized calibrator. These evaluations and the ability to make in-house repairs proved useful for obviating the need to rent ventilators which, in turn, mi...

This paper explores a housing market with an existing tenant in each house and where the existing tenants initially rent their houses. The idea is to identify equilibrium prices for the housing market given the prerequisite that a tenant can buy any house on the housing market, including the one that he currently is possessing, or continue renting the house he currently is occupying. The main c...