Barras Building Cycles
1. Auflage 2009
ISBN: 978-1-4443-1001-6
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)
Growth and Instability
E-Book, Englisch, 448 Seiten, E-Book
Reihe: Real Estate Issues
ISBN: 978-1-4443-1001-6
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)
The global economic crisis of 2008 was precipitated by a housingmarket crash, thus highlighting the destabilizing influence of theproperty cycle upon the wider economy. This timely book by a worldauthority explores why cycles occur and how they affect thebehaviour of real estate markets. The central argument put forwardis that growth and instability are inextricably linked, and thatbuilding investment acts both as a key driver of growth and as thesource of the most volatile cyclical fluctuations in an economy.
The role of building cycles in both economic growth and urbandevelopment is explored through a theoretical review and acomparative historical analysis of UK and US national datastretching back to the start of the nineteenth century, togetherwith a case study of the development of London since the start ofthe eighteenth century.
A simulation model of the building cycle is presented and testedusing data for the City of London office market. The analysis isthen broadened to examine the operation of property cycles inglobal investment markets during the post-war period, focussing ontheir contribution to the diffusion of innovation, the accumulationof wealth and the propagation of market instability.
Building Cycles: growth & instability concludes bysynthesizing the main themes into a theoretical framework, whichcan guide our understanding of the operation and impact of buildingcycles on the modern economy.
Postgraduate students on courses in property and in urbandevelopment as well as professional property researchers, urbaneconomists and planners will find this a stimulating read -demanding but accessible.
