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3. Housing Price Volatility and Econometrics

Creator:
Sunega, Petr, Lux, Martin, and Zemčík, Petr
Type:
article, model:article, and TEXT
Subject:
econometrics, housing prices, and price bubbles
Language:
English
Description:
Econometric models have produced contradictory results and have failed to provide warning of housing market crashes. The article aims to illustrate how econometrics was unable to reliably predict the recent housing price bubble and detect the disequilibrium in the housing markets. The authors will demonstrate that two distinct but well specified econometric models, using the same data, can lead to different outcomes. The authors argue that the demand for housing is influenced by social constructs, social norms, ideologies, unrealistic expectations, symbolic patterns, and that the actual choice of housing is the outcome of complex social interactions with reference groups. Consequently, it is necessary to analyse the potential instability of social constructs, norms, expectations and the changing character of social interactions to better understand purchasing behaviour and, then, housing price volatility.
Rights:
http://creativecommons.org/licenses/by-nc-sa/4.0/ and policy:public

5. Social housing in the Czech Republic: change of trend?

Creator:
Lux, Martin and Sunega, Petr
Type:
article, model:article, and TEXT
Subject:
Eastern European housing, social housing, and Czech Republic
Language:
English
Description:
The goal of this paper is (1) to describe the history and the most recent development of social housing system in the Czech Republic and (2) critically assess earlier and recent attempts to solve missing social housing strategy in this country. In general, the paper intends to contribute to literature on housing policy formulation in countries in transition from planning to market economy and thus provide insight into main factors that may explain unsustainability and weakness of housing strategies in post-socialist environment. Lack of competence, constrained discussion during programme/strategy preparation and the dominance of ideology over rational argument are found to be critical factors for the past and possibly future social housing policy failures in the Czech Republic.
Rights:
http://creativecommons.org/licenses/by-nc-sa/4.0/ and policy:public

6. Subjective or objective? What matters?

Creator:
Sunega, Petr
Type:
article, model:article, and TEXT
Subject:
comparative housing policy and globalisation
Language:
English
Description:
The aim of the paper is to discuss selected methodological problems of quantitative comparative housing research. The analysis is based on EU-SILC data and the concept of overcrowding is considered. We used two alternative definitions of overcrowding rate, both based on normative assumptions and each giving slightly different results. We tried to answer the question, which definition is better. The basic idea was that the closer the ‘objective’ rate of overcrowding is to its ‘subjective’ assessment, the better the selected method (definition) is. Moreover, it was shown that while in more advanced countries the share of households that consider dwelling space to be a problem is significantly higher than the share of households living in overcrowded dwellings based on ‘objective’ criteria, in post-socialist countries the opposite is true.
Rights:
http://creativecommons.org/licenses/by-nc-sa/4.0/ and policy:public

7. Vliv podmínek bydlení na zamýšlenou migraci české populace za prací

Creator:
Lux, Martin and Sunega, Petr
Format:
print
Type:
model:internalpart and TEXT
Subject:
housing, housing policy, housing tenure, labour migration, and labour market
Language:
Czech
Description:
The article focuses on the results of analyses of sociological research on how housing conditions affect the intended labour migration in the Czech Republic. The aim of the article is mainly to show, in reference to studies published in advanced countries, the effect of a housing tenure on the internal labour migration in the Czech environment. For this purpose the authors use a combination of quantitative and qualitative sociological methods (questionnaire surveys, focus groups). The results of the multi-dimensional logit models and the conclusions drawn from focus groups records indicate that housing tenure has a very significant effect on potential internal labour migration, even after controlling for the effect of other factors related to labour migration. This finding should be of substantial significance for the future direction of housing policy in the Czech Republic.
Rights:
http://creativecommons.org/licenses/by-nc-sa/4.0/ and policy:public

8. Vývoj finanční dostupnosti nájemního a vlastnického bydlení v průběhu hospodářské transformace v České republice (1991-2003)

Creator:
Lux , Martin and Sunega, Petr
Format:
print
Type:
model:internalpart and TEXT
Subject:
housing studies, housing affordability, housing policy, and transition countries
Language:
Czech
Description:
The aim of the article is an analysis of changes affecting the financial affordability of rental and owner-occupied housing over the course of the economic transformation in the Czech Republic. To evaluate housing affordability the authors used housing expenditures-to-income ratios and data files from the Czech Statistical Office. The objective of this article is also to draw attention to the need to modify standard indicators when measuring housing affordability in countries in transition. In this regard the authors particularly note the huge differences in affordability ratios between households living in the so-called 'privileged' and households living in the 'unprivileged' housing market sectors.
Rights:
http://creativecommons.org/licenses/by-nc-sa/4.0/ and policy:public