Forretningsorientert prosjektutvikling : forprosjektrapport til Byggherren i fokus (BIF)

2005

Denne forprosjektrapporten er utarbeidet på oppdrag av Byggherren i fokus v/NBBL, og diskuterer den faglige basisen for å starte opp hovedprosjekter forankret i økonomisk teori innen forretningsbasert prosjektutvikling i byggebransjen. Det skisseres tre mulige omtråder for videre analyse i et hovedprosjekt: Priser og prismodeller for fast eiendom, usikkerhet og realopsjonsanalyse samt markeds- og reguleringssvikt. I forbindelse med hvert av temaene gjennomgås relevant økonomisk teori som basis for videre anlyse i et evenuelt hovedprosjekt.

Markeds- og styringssvikt i eiendomsmarkedet : Hovedrapport nr 3: Byggherren i fokus (BIF) – forretningsorientert prosjektutvikling

2007

A comment on mortgage procylicality

2012

This paper comments on mortgage procyclicality. A framework for credit constraints along the lines of Kiyotaki and Moore (1997) is applied to illustrate a potential regime shift in the credit risk assessments of mortgagees. Depending on the relationship between house price growth and the alternative rate of return the weight given to collateral and debt-servicing ability may vary according to the house price cycle as mortgagees engage in search-for-yield. The regime shifts induced by increased global liquidity and expectations of continued housing appreciation might stimulate owner-occupation and LTV-ratios and induce mortgage procyclicality.

The Impact of Financial Arrangements and Institutional Form on Housing Prices

2009

Published version of an article from the journal: The Journal of Real Estate Finance and Economics. Also available on SpringerLink: http://dx.doi.org/10.1007/s11146-009-9213-z Dwellings in housing cooperatives constitute 15% of the Norwegian housing property market. The price paid for such dwellings consists of two elements: An equity price and a share of the mutual debt held by the cooperative. The interest rate paid on the housing cooperative’s mutual debt is in Norway lower than the interest rate paid on private loans. This gives rise to an interest discount effect . We find convincing empirical support for the interest discount effect, which contributes to a higher equity price for dwel…

Realopsjoner og fast eiendom : Hovedrapport nr 2 : Byggherren i fokus (BIF) –forretningsorientert prosjektutvikling

2007

Eiendomsøkonomi : prinsipper og modellerHovedrapport nr 1:Byggherren i fokus (BIF) –forretningsorientert prosjektutvikling

2007