As the title indicates, Essays in Honor of James A. Graaskamp: Ten Years After, is a collection of essays written to honor Graaskamp's major contributions to the field of real estate education and practice over the course of three decades. Upon his death in 1988, the industry lost a major influence for advancing the real estate discipline, both as an academic field and a professional field. The authors in this volume seek to extend Graaskamp's contributions and move the real estate discipline forward. The papers address the challenges posed by the market to return our attention to real estate fundamentals, and to strike a proper balance between Main Street and Wall Street. The authors and editors hope that this book will influence the industry to incorporate many of Grasskamp's ideas into mainstream real estate education and practice. Over the course of his career, Graaskamp made many noteworthy contributions to real estate theory and practice, ideas that if resurrected could offset some of the pressure in the industry to move away from market fundamentals. The authors try to capture the essence of Graaskamp's messages, and intend that the papers serve as a point of departure for discussing the future role and nature of real estate education. Part I focuses on the major contributions to the real estate discipline made by Graaskamp and the Wisconsin Real Estate Program. Part II contains some personal recollections and photos of Graaskamp, and also a summary of the groups that make up the Wisconsin Real Estate Program, a major co-sponsor of this volume. The rest of the book's three main parts are structured around major topics that reflect the multidisciplinary nature of real estate as espoused by Graaskamp. Part III treats real estate feasibility and development, Part IV concentrates on real estate valuation, and Part V discusses institutional economics.

Most people fail to understand rate of return because, they confuse cash flow with, "making something on their money." They can't see their wealth building so, they think that they are not making anything.

In real estate, rate of return means the total amount earned and it includes but, not limited to cash flow. Some of your wealth may, for a short time, be invisible because, you don't actually have the green stuff in your hands. The amount of your rental income, after expenses, is your cash flow. This, however, is only part of your return for the year.

A comprehensive approach to analyzing and understanding the social, demographic, and fiscal effects on condominium conversion on communities, this book suggests how a community can address the policy issues and social conflicts that result from large-scale conversion.

As urbanization progresses at a remarkable pace, policy makers and analysts come to understand and agree on key features that will make this process more efficient and inclusive, leading to gains in the welfare of citizens. Drawing on insights from economic geography and two centuries of experience in developed countries, the World Bank's World Development Report 2009: Reshaping Economic Geography emphasizes key aspects that are fundamental to ensuring an efficient rural-urban transformation. Critical among these are land, as the most important resource, and well-functioning land markets. Regardless of the stage of urbanization, flexible and forward-looking institu- ons that help the efficient functioning of land markets are the bedrock of succe- ful urbanization strategies. In particular, institutional arrangements for allocating land rights and for managing and regulating land use have significant implica- ons for how cities deliver agglomeration economies and improve the welfare of their residents. Property rights, well-functioning land markets, and the management and servicing of land required to accommodate urban expansion and provide trunk infrastructure are all topics that arise as regions progress from incipient urbani- tion to medium and high density.

Alexander Reichardt provides pertinent information on the business case for sustainable buildings, which offer a large potential to abate climate change, which can be achieved at relatively affordable costs compared to other industries. He discusses- although sustainable space offers verifiable advantages to tenants like lower operating expenses, higher employee productivity and reputation benefits -, the small empirical evidence that tenants indeed pay a rent premium for leasing this space. The author, therefore, analyses if sustainable buildings command a rent premium compared to comparable conventional buildings and what contributes to this rent premium. In addition, he analyses what kind of tenants primarily rent sustainable space. It is expected that the demand for sustainable space differs between industries as different industries have different motivations for renting sustainable space.

China’s economy has been transforming rapidly over the last 25 years. As a result, Chinese conurbations have changed remarkably, with cities expanding both vertically and horizontally, and the physical environment acting as a medium for unprecedented urbanization. This has provided vast opportunities for investors, real estate developers, and service companies, but also presents huge challenges—as traditional city spaces have been reconfigured, environmental risks and the volatility of real estate markets increased. However, as engagement with China is becoming strategically important for many, forming a synthesized lens through which to read China across the vicissitudes of its real estate sector bears historic significance. By offering an insightful framework and structure for understanding China’s variegated real estate dynamics, players, and markets, Understanding China’s Real Estate Markets codifies the principles and practices of real estate development, finance, and investment in China and builds foundations for future academic research and practical knowledge in shaping and engaging the urban environment within China and beyond.

The Chinese leadership anticipates that one hundred million people will move from rural areas to China's cities between 2014 and 2020-perhaps the greatest migration in human history. Property ownership and use rights, compensation for when rural land is taken for urban development, and who should receive the increment in value (betterment) are among the most contentious policy issues facing China today. Property rights in China vary from place to place, are often ambiguous, and are changing rapidly. In this remarkable book Tongji University professor Li Tian provides a comprehensive description of China's property rights, betterment, and compensation landscape. Tian reviews Western property rights, betterment and compensation theory and practice and offers her own synthesis and policy recommendations. This is a must-read book for land economists, urban planners, policy makers, and anyone interested in China's development.' - Richard LeGates, San Francisco State University, USLand value capture has long been a hotly debated topic, and it has influenced a wide variety of land ownership regimes. Property Rights, Land Values and Urban Development examines the role and impact of government intervention on land markets in China. It reveals that the state has taken selective advantage of the ambiguous definition of property rights in pursuit of the objective of rapid urban growth. Through detailed empirical analysis and case studies, the book develops approaches that are specifically designed to assess the extent of issues engendered by government activities at both macro and micro levels. It also presents a comprehensive and international review on betterment and compensation. Taking the land market of China as an example, it applies the theoretical framework of New Institutional Economics to analyze institutional arrangements at the national, municipal and project levels. It concludes with the implications of property rights reform to promote the sustainable development of land markets. The issues discussed in this book will be of particular interest to academics and researchers in land economics, Asian studies and development studies.

Coupled with the general decline in real estate values and opportunitie~ for capital fonnation, the health care industry is in the midst of unprecedented change that has resulted in unneeded real estate, excess debt and a major need for capital to meet new organizational challenges. Indeed, these are challenging times, evolutionary if not revolutionary: Reorganizations. Restructures. Shakeouts. Closures. Do you know what the strategic alternatives and solutions are for your facility or organization? Has your 1980s health care asset become a 1990s liability? What will your organization look like in the post-health care refonn era, and how will your real estate help --or hinder --this transition? If the private payor doesn't get you, the government may. If the government doesn't get you, the market will. Only the strong, the swift and the knowledgeable will survive these "winds of change" and the various forces at play today. Will your organization be one of those which do? If you are unsure of the answers to these questions, this publication may be for you. Based upon the inaugural University of Southern CalifornialManatt Phelps Phillips Health Care Industry Real Estate Institute, held in Los Angeles, California on February 9, 1995, if this book does not provide all of the answers, it will provide some, as well as assisting the reader at least to identify the questions that need asking, and answering. Los Angeles, California. January 1996. Sherwin L. Memel Ronald S. Barak PROGRAM OVERVIEW 9:00 a. m. WELCOME Dr. Jane G.

Anna Mathieu clarifies if real estate decisions are affected by investor and consumer sentiment and how severely the sentiment should be considered. With regard to international capital markets Mathieu conducts an analysis of the impact of investor sentiment on the return of the real estate-specific investment vehicle "Real Estate Investment Trust (REIT)" by applying a GARCH-Model. She investigates the effects of investor sentiment on the return and the underlying volatilities of REITs and Non-REITs during the financial crisis. The hypotheses are tested for validity in a GARCH-Model. Parallel to capital markets and thereby in changing from an indirect Real Estate investment perspective to a direct perspective the author conducts an analysis if consumer sentiment impacts the household decision to buy a new home in the US. Therefore a dataset with 385 monthly observations from 1978 to 2010 is tested by a component model.

Property Rights and Climate Change explores the multifarious relationships between different types of climate-driven environmental changes and property rights. This original contribution to the literature examines such climate changes through the lens of property rights, rather than through the lens of land use planning. The inherent assumption pursued is that the different types of environmental changes, with their particular effects and impact on land use, share common issues regarding the relation between the social construction of land via property rights and the dynamics of a changing environment. Making these common issues explicit and discussing the different approaches to them is the central objective of this book. Through examining a variety of cases from the Arctic to the Australian coast, the contributors take a transdisciplinary look at the winners and losers of climate change, discuss approaches to dealing with changing environmental conditions, and stimulate pathways for further research. This book is essential reading for lawyers, planners, property rights experts and environmentalists.

"This ambitious effort puts land use planning in a global perspective. . . . it is clearly the leading volume in its subject area and will set the standard for some years to come. Highly recommended for college and university collections." Choice

This volume addresses various aspects of the microstructure of world trading markets and provides scientific evidence on the functioning of specific foreign markets. The study of market microstructure has previously focused on the U.S. markets, but with the rapid expansion in foreign markets there is a real need to understand the nature and functioning of foreign trading markets.

Executive functions develop during the first years of life and determine, to some extent, future learning and personal development. Executive dysfunction is related to various neurodevelopmental disorders, so its study is of great interest for intervention in both children with neurotypical development and those who have suffered a neurodevelopmental disorder. Alterations in executive functions are also related to age-related decrepitude and cognitive rehabilitation and active aging programs. The literature on executive function, its development and the problems arising from its impairment can be found in a variety of publications. This book integrates this information into a single publication with the most recent knowledge related to the neurocognitive development of executive functions and their implication in the daily activities of clinicians, rehabilitators, educators and other professionals. This book is ideal for special education professionals, health professionals in general and mental health professionals in particular, psychologists, educators, speech therapists, occupational therapists, physiotherapists, academics, researchers, students and more.

The management of water resources is extremely important for survival. Depending on the climate, certain regions require different strategies to maintain sustainable hydrological systems. Hydrology and Best Practices for Managing Water Resources in Arid and Semi-Arid Lands is a crucial scholarly resource that outlines current trends in water management and offers solutions for the future of this growing field. Highlighting pertinent topics such as hydrological processes modelling, satellite hydrology, water pollution, and climate resources, this publication is ideal for environmental engineers, academicians, graduate students, and researchers that are eager to discover more about the issues and processes currently shaping water management technology.

This book contains a special issue of the Journal of Real Estate Finance and Economics, comprising thirteen articles on house price measurement. These articles address the various procedures used to compute cross-sectional or temporal house price indices. Specifically, these articles contain research that: (1) evaluates hedonic, repeat sales, or hybrid approaches to constructing house price indices; (2) evaluates alternative sources of data on house prices and corresponding housing characteristics; (3) identifies the most influential land, structural, neighborhood, and proximity determinants of house prices (and associated changes in house prices); (4) provides a methodology for identifying housing market segments; (5) incorporates spatial autocorrelation in house price indices; and (6) provides more accurate estimates of the variance in house prices.