Use of repeat house sales to measure changes since the early‐ or mid‐1980s in two inner‐city neighbourhoods in Windsor,Ontario

Changes in the prices of homes and the reasons for those changes may be more accurately predicted from repeat sales of the same homes after controlling for their changed attributes and differences in time between their sales and resales. This paper analyzes 346 of 583 sold houses in the Glengarry neighbourhood in Windsor, Ontario, that were sold more than once between 1981 and mid‐2017, and a corresponding 414 of 737 sold houses in the city's Wellington‐Crawford neighbourhood, sold more than once between 1986 and mid‐2017. After comparing types of resold homes with once‐sold ones, a repeat sales model predicts a first period of increasing annual percentage changes in resale prices compared to sale prices during the 1980s, followed by a second period of stagnation and possible decreases until 2011, and then increases during a third period after that. In addition, changes in resold homes’ attributes of the dwelling unit and neighbourhood are a second type of neighbourhood change in two inner‐city neighbourhoods during the past 30 or more years.     

Land sales in eighth- and ninth-century Bavaria: legal, economic and social aspects

Based upon an examination of the Bavarian law code and detailed analysis of thirty eighth- and ninth-century deeds from Bavarian cartularies, this article argues that land sales were common in early medieval Bavaria and generally followed codified procedures, derived in part at least, from late-Roman vulgar law. The essential element in the sale was the payment of the purchase price ( pretium ) which established its validity. This purchase price, even when expressed in monetary forms, was seldom executed in specie and was determined by customary social as well as strictly economic considerations. The Church probably was the primary purchaser of land to consolidate properties obtained by gift, and lay men and women sold land to meet public obligations, to obtain necessary stock and to satisfy personal wants.     

LAND BANK 2.0: AN EMPIRICAL EVALUATION

In 2009, Cuyahoga County, Ohio (Cleveland and 58 suburbs), established a land bank to acquire low‐value properties, mitigate blighted housing, and slow the decline of property values. This empirical study evaluates the effectiveness of the land bank by estimating spatially corrected hedonic price models using sales near the land‐bank homes. The land bank reduces the negative externalities of the properties it acquires. Its largest impact is the preservation of equity in unsold homes. We also estimate the recovered value for homes sold during the study period and the property tax revenue that may have been forgone, absent the land bank.     

TAX AND FINANCIAL POLICIES FOR THE HOUSING MARKET OF THE 1980s

The imbalance in the age structure of the U.S. population has created conditions for heavy demand and consequently pressures for rising relative prices in the market for owner-occupied single family housing in the 1980s and 1990s. Working in reverse, the unbalanced demographics may well lead to the falling relative price of housing around 2010, the period in which the baby boom generation will be retiring and may wish to liquidate its housing investment. Changes in housing policies during the 1980s could help offset the anticipated costs associated with the swings in demand pressures in the housing market over the next forty years. Current favorable tax and financial policies toward homeownership encourage both the overconsumption of housing and the overinvestment in housing as a retirement asset. Tax and financial policies could be changed to neutralize the attractiveness of owner-occupied single family units relative to alternative types of housing units. To avoid overbuilding for the future, policies could encourage the efficient use of existing housing resources through intergenerational turnover, upgrading of units and neighborhood improvement, and condominium-style conversion of multiunit structures from rental to owner-occupancy. Finally, tax and financial policies toward investment could encourage the baby boom generation to diversify its retirement assets outside of housing.     

Domestic slave trading in St. Croix, 1764–1848

This article deals with domestic slave trading in the Danish (-Norwegian) West Indian colony of St. Croix, focusing on enslaved labourers sold as chattel. It examines the volume and price developments, building upon data on thousands of sales. Crucian slaveholders were willing participants in the domestic slave market, especially during the market’s peak period, c. 1767–1823. Some of them did make a profit from speculation, although evidence of large-scale, professional entrepreneurs is absent. The closing of the transatlantic slave trade did not lead to rising slave prices in the short term, but in the long run it was an important factor in the decline of the market. Finally, the article discusses the impact of the market on enslaved Crucians and their masters, as well as their respective strategies for dealing with it.     

Competition in a Repeated Spatial Auction Market with an Application to Timber Sales

In this paper we develop a model of a repeated spatial auction market. The auction model contributes to the literature on spatial competition by considering the sale of goods in a market with spatial and temporal dimensions, and in which goods are sold by an auction institution instead of a posted-price institution. In the Nash equilibrium of the spatial auction model, each bidder is found to have a dominance solvable strategy to bid below his net (of transportation costs) valuation for the first unit of the good because there is an option value to not winning, namely that the following units may be locationally preferred to the first unit. The equilibrium bidding strategies lead to the possibility of non–Pareto-efficient outcomes. The auction model is applied to data from U.S. Forest Service timber sales.     

Sale, price and valuation in Galicia and Castile–León in the tenth century

The number of sale transactions recorded by northern Spanish charters of the tenth century is very striking, especially in the 930s to 960s. A record of price paid was a consistent element of such documents, although words used to express price varied from silver solidi to goats, shirts and grain. Valuations, in solidi and in other units of account such as cattle, were often stated when objects were used as payment. While it looks as if some silver was really used in deals in urban León and its hinterland, using pieces of silver called argenzos , argenteos etc., elsewhere this was rare. Comparing the transactions in the three very different monastic collections of Celanova in the north–west, Sahagún in the central meseta and Cardeña in the foothills of the sierras in the north–east, regional difference is also striking. Sahagún is notable for the volume and early date of its sales and for increasing use of silver–based expressions of price and value. Round Celanova, by contrast, although there were also many sales, people used several modes of valuation simultaneously, but metal–based notions very rarely. Round Cardeña, close to urban Burgos, far fewer sales are recorded, and they come later in the century, but silver–based notions of value were the only ones used. This latter sub–urban context seems to have been much less commercially active than that of León and Sahagún, with exchange by gift and countergift a more prominent characteristic.     

辛亥“变产救国之议”探析

1911年,加拿大致公堂向银行抵押堂产取现,以应国内起义急需,贡献很大。当年是谁提出"变产救国之议",司徒美堂和冯自由两位辛亥老人发表不同主张。文章对这两种不同主张的论据从多个方面进行考证分析,认为"变产救国之议"由冯自由提出的可信度大,并指出因为口述都是个体性的,不可避免地会带有口述者本人认识上的局限。任何当事人的回忆都难免会有无意识的失忆或者误记。为了追求历史真实,后人对当事人的口述历史,需要博采周资,查证求实。     

Neighborhood house price indexes in Chicago: a Fourier repeat sales approach

House price indexes are estimated for 851 census tracts in theCity of Chicago using a Fourier repeat sales estimator. Locallyweighted regression allows price indexes to be estimated forsubmarkets with small numbers of sales. Annual appreciationrates are higher between 1990 and 1996 in neighborhoods closeto the city center with large minority populations, high concentrationsof poverty, and many vacant homes in 1990.     

GEOGRAPHICAL STUDY OF THE FIXED ASSETS OF RURAL PLACES

The use of fixed assets data as a geographical research tool is illustrated with reference to a rural rayon [minor civil division] of Kaluga Oblast, southwest of Moscow. The value of fixed assets by places is correlated with population size, the position of places within the system of settlement of particular state farms or collective farms, and distance from towns. The share of productive assets (farm buildings and equipment) is found to reach a maximum in places with populations of 100 to 200. In larger places, the share of productive assets declines because of the higher value of housing and the presence of most service facilities. The share of productive assets also tends to be low in suburban places where a substantial portion of the population commutes to nearby towns.     

LUTI模型原理、实现及应用综述

经济全球化背景下可持续发展已成为当今世界发展的主题。快速城镇化下的中国,城市空间的可持续性发展提上日程。为此,期待有力的、可操作的工具用于定量模拟城市空间演化过程、预测不同政策下城市空间的发展趋势,为城市化持续健康发展提供决策支持。本文分析了LUTI模型的基本原理、构建思路、实现框架和建立中国城市LUTI模型面临的问题,并回顾了国内外利用LUTI模型模拟城市空间演化过程,以辅助表明城市空间决策的研究现状,希望能为中国的城市空间可持续发展模拟分析研究提供参考。     

长春市住宅价格空间分异与影响因素研究

基于持续年份住宅数据、利用空间热点分析和地理加权回归模型，对2011年以来长春市住宅价格分布的空间分异现象和住宅价格影响因素分布的空间异质性进行研究。结果显示：①近年来长春市住宅小区存在向内填充与向外扩散并进，圈层扩展和扇形放射融合的演化趋势，其中西南-东南扇面是居住空间扩展的主要方向；②2011年以来长春市住宅价格呈现出以南部为指向的扇面增长的空间特征，高价住宅街区由点状分布到片状扩散。通过半变异函数和冷热点聚类分析方法指出，长春市住宅空间的南北分异现象显著，住宅价格的低值与高值聚类以铁路为界线存在显著的空间隔离；③就POI数量而言，住宅小区周边银行保险、医疗、住宿、休闲娱乐数量对住宅价格产生较强影响，同时以上因素作用效应的空间差异性同样显著。     

Fixed or free book prices: is a hybrid system superior?

One of the main issues in the literature on the economics of books is whether or not a fixed‐price system is better than a free‐price system in providing a wide variety of cheap books. Although numerous studies have been carried out, this issue remains unresolved. Since 1962 Norway has had a fixed‐price system, regulated by a book trade agreement between the publishers’ and booksellers’ associations. On 1 May 2005, Bokavtalen, a new book trade agreement was introduced, representing a new step in a long‐term trend towards a less regulated book trade, and the price system is now actually a hybrid of fixed and free prices. The evaluation is mainly based on extensive use of multivariate regression analyses. Some of the results suggest that the hybrid price system is superior to the old one with regard to each of price, sales, reading and number of titles.     

PROPERTY VALUES AND MENTAL HEALTH FACILITIES IN METROPOLITAN TORONTO

Property value data reveal that markets in the vicinity of five mental health facilities in Toronto are essentially identical to those in control areas. The volume of sales activity and the sale price of transactions are generally comparable. The most important influences on sale price are the characteristics of the property itself. Controlling for these characteristics, the presence of a facility has a weak effect on sale price. Distance from facility, facility type, and the number offacilities had no significant effect on price.
La vente de la proprieté fait voir que les marchés à proximité de cinq centres de la santé mentale à Toronto sont essentiellement identiques aux ceux-làà proximité des cas temoins. Le nombre des ventes et le cours du marché sont comparables. Les plus importantes influences sur le cours du marché sont les traites de la propriété elle-même. Si l'on tient en équilibre ces traites, donc on découvre que la présence d'un centre de la santé mentale n'a qu'un effet faible sur le cours du marché. De plus les trois autres éléments (la distance d'un centre, le type du centre, et le nombre des centres) n'ont aucuns effets importants sur le cours du marché.     

Working towards the Duce: five recent books on Mussolini

ABSTRACT

Giovanni Freppa (1795–1870), a well-known antiquarian, was instrumental in propelling the Ginori maiolica firm to reinvent the technique of Renaissance lustreware. The so-called ‘Freppa Scandal’ resulted after he sold as authentic Renaissance pieces a number of plates made by Ginori. Freppa was also famous, or rather infamous, for his exploitation of the young sculptor Giovanni Bastianini, whose remarkable neo-Renaissance portrait busts were sometimes sold as authentic Renaissance works. The Louvre purchased for an enormous price a bust believed to be a Renaissance masterpiece; but it was actually executed by Bastianini in 1864 on commission from Freppa, resulting in ‘the Benivieni Affair’. But this article is not primarily intended to expand on Freppa’s transactions in the art world; rather, it highlights his activities in many other spheres, including a failed publishing project with Giacomo Leopardi, among other activities. Freppa was a more complex individual than indicated merely by the two above-mentioned scandals.     

A REGIONALIZATION OF THE RURAL AREAS OF TAMBOV OBLAST BASED ON DEVELOPMENT INDICATORS

The notion of spatial development is defined as a relationship between two phenomena, in which the phenomenon that is being modified (the object of development) imposes constraints on the evolution of the modifier (the subject of development); the interaction achieves what was at first only potentially present in the object. The combination of a particular subject and object characterizes the intensity of the process of development (or the level of development). This conceptual approach is illustrated with particular reference to the development levels in the rural rayons of Tambov Oblast, where the output and fixed assets of agriculture are used as the subject of development, and the physical base and rural population as the objects. The interplay yields a number of types of development levels which have been mapped and interpreted in light of the history of settlement and the physical base of the area.     

THE IMPACT OF RENT CONTROLS IN NON-WALRASIAN MARKETS: AN AGENT-BASED MODELING APPROACH

ABSTRACT.  We use agent-based models to consider rent ceilings in non-Walrasian housing markets, where bargaining between landlord and tenant leads to exchange at a range of prices. In the non-Walrasian setting agents who would be extramarginal in the Walrasian setting frequently are successful in renting, and actually account for a significant share of the units rented. This has several implications. First, rent ceilings above the Walrasian equilibrium price (WEP) can affect the market outcome. Second, rent ceilings that reduce the number of units rented do not necessarily reduce total market surplus. Finally, the distributional impact of rent controls differs from the Walrasian setting.     

The Strategic Choice of Location and Transport Mode in a Successive Monopoly Model

This work emphasizes the incentives for vertical integration in a spatial model. A downstream monopoly will both strategically increase its transport costs and locate inefficiently relative to its customers. This forces the upstream monopolist to lower its input price rather than permit sales to decline. The excess costs and the inefficient location lower total profit in the vertical stream generating an incentive for vertical integration.     

城市规划视角下西安市主城区住宅空间结构演变研究

近年来,住宅市场的空间分异逐渐受到学界关注。本文以西安市主城区为研究区域,以2003年至2009年区内住宅资料为基础数据,分析了西安市主城区住宅空间结构的动态演变规律,并从城市规划视角对住宅空间结构演变机制做以探究。结果认为:西安市主城区内住宅空间结构呈现出数量上向轴线和板块集聚、价格上向多核均衡演变的趋势。住宅空间结构的演变受城市规划的空间战略、产业布局、交通建设和设施配套等影响较大。科学的城市规划能够引导住宅结构逐步优化,使之从单一极化结构向多极多层次的网络化均衡结构演变。     

Privatisation of Italian Cultural Heritage

Italy is home to much of the European cultural heritage, including artistic, archaeological, architectural and environmental heritage. Articles 7 and 22 (now 33), introduced in the Financial Act 2002 (now Law 112/2002) by the current Italian government, are privatising part of it. Already, objects from the mediaeval period to the 20th century have been sold to international investment firms and private investors for amounts that many Italian experts consider well below the median market price. Hundreds of other objects, among them temples, old cities, medieval palazzos, archaeological sites, museums, beaches and islands, are waiting to be sold. Currently, this case is not only a source of division in Italian politics but is also the subject of heated public debate. It highlights crucial social and cultural problems relating to global privatisation that the world community will have to face in the coming years.