The Impact of Financial Arrangements and Institutional Form on Housing Prices
Abstract 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 i...
Ausführliche Beschreibung
Gespeichert in:
| Autor*in: |
Robertsen, Karl [verfasserIn] |
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| Format: |
Artikel |
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| Sprache: |
Englisch |
| Erschienen: |
2009 |
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| Schlagwörter: |
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| Anmerkung: |
© Springer Science+Business Media, LLC 2009 |
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| Übergeordnetes Werk: |
Enthalten in: The journal of real estate finance and economics - Springer US, 1988, 42(2009), 3 vom: 11. Nov., Seite 371-392 |
|---|---|
| Übergeordnetes Werk: |
volume:42 ; year:2009 ; number:3 ; day:11 ; month:11 ; pages:371-392 |
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| DOI / URN: |
10.1007/s11146-009-9213-z |
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OLC2037176864 |
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| 520 | |a Abstract 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 dwellings in housing cooperatives than for self-owned dwellings. On the other hand, we also find empirical support for a co-op discount of 9.3%. The co-op discount work in the direction of making cooperative dwellings more affordable. | ||
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10.1007/s11146-009-9213-z doi (DE-627)OLC2037176864 (DE-He213)s11146-009-9213-z-p DE-627 ger DE-627 rakwb eng 330 VZ Robertsen, Karl verfasserin aut The Impact of Financial Arrangements and Institutional Form on Housing Prices 2009 Text txt rdacontent ohne Hilfsmittel zu benutzen n rdamedia Band nc rdacarrier © Springer Science+Business Media, LLC 2009 Abstract 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 dwellings in housing cooperatives than for self-owned dwellings. On the other hand, we also find empirical support for a co-op discount of 9.3%. The co-op discount work in the direction of making cooperative dwellings more affordable. Housing prices Cooperative housing Condominiums Credit rationing Theisen, Theis aut Enthalten in The journal of real estate finance and economics Springer US, 1988 42(2009), 3 vom: 11. Nov., Seite 371-392 (DE-627)170550265 (DE-600)1073289-5 (DE-576)025193546 0895-5638 nnns volume:42 year:2009 number:3 day:11 month:11 pages:371-392 https://doi.org/10.1007/s11146-009-9213-z lizenzpflichtig Volltext GBV_USEFLAG_A SYSFLAG_A GBV_OLC SSG-OLC-WIW GBV_ILN_26 GBV_ILN_648 GBV_ILN_2004 GBV_ILN_4012 GBV_ILN_4125 AR 42 2009 3 11 11 371-392 |
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10.1007/s11146-009-9213-z doi (DE-627)OLC2037176864 (DE-He213)s11146-009-9213-z-p DE-627 ger DE-627 rakwb eng 330 VZ Robertsen, Karl verfasserin aut The Impact of Financial Arrangements and Institutional Form on Housing Prices 2009 Text txt rdacontent ohne Hilfsmittel zu benutzen n rdamedia Band nc rdacarrier © Springer Science+Business Media, LLC 2009 Abstract 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 dwellings in housing cooperatives than for self-owned dwellings. On the other hand, we also find empirical support for a co-op discount of 9.3%. The co-op discount work in the direction of making cooperative dwellings more affordable. Housing prices Cooperative housing Condominiums Credit rationing Theisen, Theis aut Enthalten in The journal of real estate finance and economics Springer US, 1988 42(2009), 3 vom: 11. Nov., Seite 371-392 (DE-627)170550265 (DE-600)1073289-5 (DE-576)025193546 0895-5638 nnns volume:42 year:2009 number:3 day:11 month:11 pages:371-392 https://doi.org/10.1007/s11146-009-9213-z lizenzpflichtig Volltext GBV_USEFLAG_A SYSFLAG_A GBV_OLC SSG-OLC-WIW GBV_ILN_26 GBV_ILN_648 GBV_ILN_2004 GBV_ILN_4012 GBV_ILN_4125 AR 42 2009 3 11 11 371-392 |
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10.1007/s11146-009-9213-z doi (DE-627)OLC2037176864 (DE-He213)s11146-009-9213-z-p DE-627 ger DE-627 rakwb eng 330 VZ Robertsen, Karl verfasserin aut The Impact of Financial Arrangements and Institutional Form on Housing Prices 2009 Text txt rdacontent ohne Hilfsmittel zu benutzen n rdamedia Band nc rdacarrier © Springer Science+Business Media, LLC 2009 Abstract 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 dwellings in housing cooperatives than for self-owned dwellings. On the other hand, we also find empirical support for a co-op discount of 9.3%. The co-op discount work in the direction of making cooperative dwellings more affordable. Housing prices Cooperative housing Condominiums Credit rationing Theisen, Theis aut Enthalten in The journal of real estate finance and economics Springer US, 1988 42(2009), 3 vom: 11. Nov., Seite 371-392 (DE-627)170550265 (DE-600)1073289-5 (DE-576)025193546 0895-5638 nnns volume:42 year:2009 number:3 day:11 month:11 pages:371-392 https://doi.org/10.1007/s11146-009-9213-z lizenzpflichtig Volltext GBV_USEFLAG_A SYSFLAG_A GBV_OLC SSG-OLC-WIW GBV_ILN_26 GBV_ILN_648 GBV_ILN_2004 GBV_ILN_4012 GBV_ILN_4125 AR 42 2009 3 11 11 371-392 |
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10.1007/s11146-009-9213-z doi (DE-627)OLC2037176864 (DE-He213)s11146-009-9213-z-p DE-627 ger DE-627 rakwb eng 330 VZ Robertsen, Karl verfasserin aut The Impact of Financial Arrangements and Institutional Form on Housing Prices 2009 Text txt rdacontent ohne Hilfsmittel zu benutzen n rdamedia Band nc rdacarrier © Springer Science+Business Media, LLC 2009 Abstract 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 dwellings in housing cooperatives than for self-owned dwellings. On the other hand, we also find empirical support for a co-op discount of 9.3%. The co-op discount work in the direction of making cooperative dwellings more affordable. Housing prices Cooperative housing Condominiums Credit rationing Theisen, Theis aut Enthalten in The journal of real estate finance and economics Springer US, 1988 42(2009), 3 vom: 11. Nov., Seite 371-392 (DE-627)170550265 (DE-600)1073289-5 (DE-576)025193546 0895-5638 nnns volume:42 year:2009 number:3 day:11 month:11 pages:371-392 https://doi.org/10.1007/s11146-009-9213-z lizenzpflichtig Volltext GBV_USEFLAG_A SYSFLAG_A GBV_OLC SSG-OLC-WIW GBV_ILN_26 GBV_ILN_648 GBV_ILN_2004 GBV_ILN_4012 GBV_ILN_4125 AR 42 2009 3 11 11 371-392 |
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Abstract 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 dwellings in housing cooperatives than for self-owned dwellings. On the other hand, we also find empirical support for a co-op discount of 9.3%. The co-op discount work in the direction of making cooperative dwellings more affordable. © Springer Science+Business Media, LLC 2009 |
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Abstract 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 dwellings in housing cooperatives than for self-owned dwellings. On the other hand, we also find empirical support for a co-op discount of 9.3%. The co-op discount work in the direction of making cooperative dwellings more affordable. © Springer Science+Business Media, LLC 2009 |
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Abstract 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 dwellings in housing cooperatives than for self-owned dwellings. On the other hand, we also find empirical support for a co-op discount of 9.3%. The co-op discount work in the direction of making cooperative dwellings more affordable. © Springer Science+Business Media, LLC 2009 |
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<?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>01000caa a22002652 4500</leader><controlfield tag="001">OLC2037176864</controlfield><controlfield tag="003">DE-627</controlfield><controlfield tag="005">20230504022446.0</controlfield><controlfield tag="007">tu</controlfield><controlfield tag="008">200820s2009 xx ||||| 00| ||eng c</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1007/s11146-009-9213-z</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-627)OLC2037176864</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-He213)s11146-009-9213-z-p</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-627</subfield><subfield code="b">ger</subfield><subfield code="c">DE-627</subfield><subfield code="e">rakwb</subfield></datafield><datafield tag="041" ind1=" " ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="082" ind1="0" ind2="4"><subfield code="a">330</subfield><subfield code="q">VZ</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Robertsen, Karl</subfield><subfield code="e">verfasserin</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">The Impact of Financial Arrangements and Institutional Form on Housing Prices</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="c">2009</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="a">Text</subfield><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="a">ohne Hilfsmittel zu benutzen</subfield><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="a">Band</subfield><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">© Springer Science+Business Media, LLC 2009</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">Abstract 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 dwellings in housing cooperatives than for self-owned dwellings. On the other hand, we also find empirical support for a co-op discount of 9.3%. 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