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Vacation homes emerged as an alternative accommodation sector with strong growth potential in small island destinations. As tourists scrutinize vacation home features, bundling their best attribute sets materializes as a critical strategy for vacation home developers. This study examined tourist preferences for vacation homes in Aruba, employing a choice experiment analysis. The experiment centered on location, price, unit type, amenities, and services. Based on identified preferences, the study applied a market simulator to uncover which combination of attributes carries the most impact on a vacation home purchase. The results suggest that the best combination involves location and price, which reveals a polynomial function anchoring a direct negative relationship between location and price. As the location moves further away from the tourist core area (i.e. the beach), the price elasticity of potential vacation owners also increases. Location seems to be a product-differentiating characteristic, which influences consumer utility and shapes demand. [ABSTRACT FROM AUTHOR]

In product search systems, user behaviour changes according to their intentions, requiring adaptations in system requirements and information modelling. When purchasing home decor products, users must consider their existing home setting (EHS) and the need to pair multiple elements, not just a single product. However, no existing home decor search systems assist with varied search intents (target-finding and decision-making scenarios), nor have they focused on research that helps pair various elements of a user's EHS. Therefore, we introduce CMLsearch: a semantic visual search system that segments Colour, Material, and Lighting (CML), and includes light correlated colour temperature (CCT) simulation. In a user study (N  = 44), CMLsearch significantly improved user satisfaction and purchasing decisions compared with conventional systems. The semantic visual search reflected user intent, offering object-level control that supported more focused searches in target-finding scenarios and broader exploration in decision-making scenarios. The light CCT simulation further boosted confidence by allowing users to visualize the products under different lighting conditions. [ABSTRACT FROM AUTHOR]

Housing security is fundamental to the life of rural-urban migrants in cities, and the housing choices of rural-urban migrants have drawn increasing attention in recent studies. However, the role of housing policies is still yet to be explored. This paper aims to investigate the effect of housing policies on rural-urban migrants' purchasing intention. Taking China as an example, the empirical results indicate that, somewhat surprisingly, the home purchase restriction policy implemented by the Chinese government raises the floating population's intention to purchase houses in the host city. Yet, such a linkage varies with income and housing status among the floating population, while it gives rise to changes in their consumption behaviors. This study thus provides new insights into the effect of housing policies and how floating populations make housing purchase decisions, yielding critical implications on how to optimize housing policies. [ABSTRACT FROM AUTHOR]

This paper explores the interplay of tourism activity, local expenditures on environmental protection, and the decisions to purchase apartments, family houses, and urban land. A random effects panel model is estimated by using data from cities and municipalities from 2012 to 2021 in Croatia, a European economy heavily dependent on tourism. The findings suggest that increasing tourism intensity at a destination motivates apartment purchase decisions but does not influence family house purchases as significantly. Municipal environmental expenditures show a positive relationship with apartment and family house purchase decisions, suggesting that investments in environmental protection may enhance the attractiveness of urban living spaces, leading to increased demand for apartments. Finally, the results reveal that growth in urban land purchases for housing construction is linked to increased short-term rentals and higher municipal housing expenditures. This research contributes to understanding housing market behavior. The results provide actionable insights for policymakers in tourism-dependent economies, emphasizing the need to balance tourism growth with housing affordability and sustainable urban development. [ABSTRACT FROM AUTHOR]

One important aspect to consider when buying a house or apartment is adequate solar exposure. The same applies to the evaluation of the shadowing effects of existing buildings on prospective construction sites and vice versa. In different climates and seasons, it is not always easy to assess if there will be an excess or lack of sunlight, and both can lead to discomfort and excessive energy consumption. The aim of our project is to design a method to quantify the availability of direct sunlight to answer these questions. We developed a tool in Octave to calculate representative parameters, such as sunlight hours per day over a year and the times of day for which sunlight is present, considering the surrounding objects. The apparent sun position over time is obtained from an existing algorithm and the surrounding objects are surveyed using a picture taken with a 360° camera from a window or other sunlight entry area. The sky regions in the picture are detected and all other regions correspond to obstructions to direct sunlight. The sky detection is not fully automatic, but the sky swap tool in the camera software could be adapted by the manufacturer for this purpose. We present the results for six representative test cases. [ABSTRACT FROM AUTHOR]

Copyright of Ekonomik Yaklaşim is the property of Ekonomik Yaklasim Dernegi (Ekonomik Yaklasim Association) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper examines the quantile connectedness between Real Estate Investment Trusts (REITs), housing market sentiment, and stock market sentiment in the U.S. over the period between January 2014 and June 2022 using the quantile vector autoregression (QVAR) model. We find modest spillover effects at the median quantile (8.51%), which become more pronounced at the extreme tails (between 50.51% and 59.73%). The COVID-19 pandemic amplifies these interconnections. REITs are net receivers at the median but net transmitters at extreme quantiles, while stock market sentiment mainly transmits during normal conditions and receives in highly bullish markets. Home purchase sentiment shifts from fluctuating roles before the pandemic to being a net transmitter post-2021. Overall, negative shocks have a greater impact than positive ones, and REITs exhibit stock-like behavior. These findings underscore the importance for fund managers and investors to consider sentiment volatility in both stock and real estate markets, especially during extreme market conditions. [ABSTRACT FROM AUTHOR]

This paper examines the impact of rising housing prices on the quality of export products. When housing prices increase, the collateral value of firms can rise, easing financial constraints and potentially boosting investment in innovation and product quality. However, higher housing prices can also lead firms to divert investments from their core business operations to the housing sector, where returns are relatively higher. This diversion can negatively affect product quality. We empirically investigate this relationship using Chinese firm‐level data, matched with customs and city‐level data from 2000 to 2013. Our results show that during China's housing boom, rising housing prices significantly reduced the quality of export products. The negative impact of speculative investment in the housing sector outweighed the positive effects of eased credit constraints. Firms with real estate investments and industries with low external financial dependence were more affected by rising housing prices. Additionally, government restrictions on home purchases helped mitigate the negative impact of rising housing prices on export product quality. [ABSTRACT FROM AUTHOR]

The first director of the National Gallery in London, Sir Charles Eastlake (1793–1865), was an Italophile. His favourite Italian city was Venice, where he once thought of buying a second home. The city he knew best, having lived there for fourteen years from 1816, was Rome. However, between 1854 and 1864, Eastlake made twenty-three trips to Milan, meaning that during his decade as director of the National Gallery from 1855, he visited Milan more often than any other place. This article suggests that Milan became a crucial hub for Eastlake, as the place where he connected with individuals who played important roles in several interconnected areas. Milan was significant, first, as an area rich in private collections, offering fertile ground for the discovery of potential acquisitions and a place from where it was relatively easy to export paintings because German-speaking Austria, which occupied north Italy and the Veneto until 1866, was comparatively lax about imposing export restrictions; second, as a place where art-historical knowledge and connoisseurship could be developed; and third, as a leading centre of picture conservation and framing. [ABSTRACT FROM AUTHOR]

In Los Angeles, all-cash home purchases quintupled during the last decade. Compared with an else-equal mortgage offer, a cash offer is associated with 29 percent shorter time-to-close and a 2–3.9 percent price discount, indicating a substantial amount of financing risk—the risk to a seller that a transaction may not close on time and may fail to occur again because a mortgage contingency fails. The estimated cash discount aligns well with a canonical model calibrated to the sample market. Our findings reveal that closing risk alone is insufficient to explain the cash discount. Rather, it turns on the possibility that a property back on the market may fail to sell, requiring a substantial risk compensation. The estimated cash discount is smaller during booms and in larger markets, highlighting the inseparability of financial frictions in the mortgage market and search frictions in the housing market. [ABSTRACT FROM AUTHOR]

People generally wish to return home after being evacuated due to disaster situations. Evacuation orders have now been lifted in the Fukushima region following the nuclear accident in 2011, and the Japanese government is promoting a return policy. However, many residents who wish to return home remain unable to and continue living in evacuation sites or other areas. Sixteen residents of Katsurao village were interviewed after evacuation orders were lifted in 2016 who have not yet returned. Concerns were cited regarding radiation, prolonged evacuation, health problems, buying a house in the evacuation area and schooling. The problems identified were primarily due to the rapid ageing and decline of the regional population, reflecting similar issues throughout Japan. In particular, health problems and intention to return were thought to be closely related. Over 10 y have passed since the evacuation, and many residents have experienced familial separation and divided living situations. [ABSTRACT FROM AUTHOR]

Copyright of Jurnal Ilmu Hukum, Humaniora dan Politik (JIHHP) is the property of Dinasti Publisher and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

iBuyers are firms that use automated valuation models (AVMs), streamline home buying processes, and provide all-cash offers to purchase homes. Although the previous literature has explored the roles and limitations of iBuyers in the housing market, empirical research on the racial implications of these algorithmic home buying processes remains understudied. Using a spatial lag model, this study shows the spatial clustering of iBuyer profit margins, that iBuyers gain more profits when they resell to individuals than institutions, and that some iBuyers have a statistically significant correlation between their profit margins and the proportion of marginalized racial groups within a census tract, while controlling for individual housing characteristics, neighborhood housing quality and demand, and neighborhood amenities and socioeconomic factors. These findings suggest that the more adeptly iBuyers can forecast housing values, the greater the potential to maximize profits from homeowners in communities of color. Consequently, this research contributes to the understanding of how technological mechanisms operate within a purportedly race-neutral framework and advocates for the development and deployment of algorithmic systems guided by the principles of antisubordination, rather than relying solely on notions of “fairness” and anticlassification. [ABSTRACT FROM AUTHOR]

All‐cash homebuyers account for one‐third of U.S. home purchases between 1980 and 2017. We use multiple data sets and research designs to robustly estimate that mortgaged buyers pay an 11% premium over all‐cash buyers to compensate home sellers for mortgage transaction frictions. A dynamic, representative‐seller model implies only a 3% premium, which would suggest an 8% puzzle. Accounting for heterogeneity in selling conditions explains half of this difference, but a puzzle holds in conditions with high transaction risk. An experimental survey of U.S. homeowners replicates these patterns and suggests that belief distortions can explain the puzzle in these high‐risk states. [ABSTRACT FROM AUTHOR]

The ability of the cross-city commuting labor force to obtain housing has a profound impact on the development of the housing market and the enhancement of social welfare, but whether cross-city commuting has facilitated housing purchases remains to be verified However, the research on whether cross-city commuting behavior promotes labor force housing purchase in metropolitan areas is still lacking, especially in China, where the culture of buying houses is relatively special. This article used field survey data from the 2023 China Metropolitan Area Occupation and Housing Status Sampling Survey to empirically analyze whether cross-city commuting has facilitated housing purchases within metropolitan areas. The analysis was conducted by constructing a baseline model, a mediation effect model, and a subsample regression model. The results show that the cross-city commuting facilitated housing purchase within metropolitan areas, and the location preference is to purchase a house with a distance of 20–40 km from the workplace, but the contribution of the cross-city commuting to multi-suite purchases is relatively low. Mechanism analysis shows that compared to the workers who work and live in peripheral areas or the workers who work and live in cores, intercity commuters are promoted to purchase housing by relatively higher income and inducement of the housing price gap. The above conclusions still hold after controlling potential endogeneity issues and in robustness tests. The research of this paper can provide a new perspective for alleviating the housing inequality in the metropolitan area. [ABSTRACT FROM AUTHOR]

China has experienced substantial transformations since the Economic Reform in 1978, as echoed by cultural changes in many facets of life. Previous research has examined cultural changes in China by focusing on books and other cultural products, albeit with a limited scope across various life domains. In the current study, we aim to explore a more comprehensive range of realms encompassing diverse aspects of Chinese life. To achieve this, we utilize an informative yet underexamined cultural product: TV dramas. Successful TV dramas appeal to the audience's preferences and needs and reflect cultural characteristics of the time. We collected information on top-rated Chinese urban TV dramas between 1980 and 2019 and coded them into 17 common themes reflecting various aspects of life. We then examined the trajectory of each theme over time from 1980 to 2019. Overall, the following themes became more prevalent in TV dramas over time: affair, divorce, family, romantic love, wedding, the pursuit of wealth, dinner party, house rental, house purchase, shopping, and death. The early 1990s mark a pivotal period. Specifically, the depiction of career pursuit in TV dramas switched from decreasing to increasing in the early 1990s. Around the same period, the depiction of survival stopped increasing and started to go down. Consistent with past literature, we found rising trends for themes indicating both traditional (e.g., family) and modern values (e.g., divorce), suggesting the coexistence of modernity and traditionality in China. [ABSTRACT FROM AUTHOR]

This study investigates the unintended socioeconomic consequences of housing market regulations, focusing on the home purchase restriction (HPR) policy implemented in cities across China. While the primary aim of the HPR policy is to curb property prices by limiting the number of properties a household can purchase, its broader impact on family formation, particularly marriage and divorce patterns, remains underexplored. Applying Becker's economic theory of marriage, which views marital decisions as rational choices influenced by socioeconomic factors, this study examines how the HPR policy affects family formation and dissolution across different city tiers and age groups in China. Our analysis reveals several key findings. First, the HPR policy effectively contributed to a decrease in house prices, aligning with its primary objective. However, it also led to delayed marriages among younger age groups, especially in first-tier cities, where housing affordability is a significant concern. Second, the policy inadvertently encouraged strategic divorces, allowing couples to circumvent purchase restrictions and acquire additional properties. This loophole undermines the policy's effectiveness in reducing housing demand and stabilizing prices. These results highlight the complex interplay between housing market regulations and family demographics, emphasizing the need for policymakers to consider the broader societal impacts of non-family-oriented policies. As China, like many other societies, faces challenges related to the second demographic transition—such as declining marriage and fertility rates—the findings of this study serve as a cautionary tale. Housing policies, while effective in addressing market concerns, can have significant and sometimes counterproductive effects on family stability and formation, potentially exacerbating the demographic trends a society aims to mitigate. [ABSTRACT FROM AUTHOR]

This research online aimed to evaluate the consumers' intention to cook at home and purchase food away from home after the COVID-19 lockdown in Brazil. Of the 970 participants, 84.0% reported being afraid of contracting COVID-19 in food service establishments and 97.2% were in social distancing. Most of the participants intended never or rarely to buy food by delivery/take away/drive-thru and eat out. Moreover, 73.3%, 60.0%, 60.7%, and 50.5% of the participants intended daily to cook breakfast, morning, afternoon, and evening snacks, respectively. A significant association was observed between fear of contracting COVID-19, and level of social distancing and the consumers' intention to cook some meals (p < 0.05), to purchase some meals using ordering food services (p < 0.05) and to eat out (p < 0.01). Therefore, the fear of contracting COVID-19 and social distancing seems to affect the intention to cook and to purchase food after lockdown. [ABSTRACT FROM AUTHOR]

Partisans' stated beliefs about the economy vary dramatically depending on the party that holds the presidency. Do these responses represent genuine differences in beliefs about the economy, or do they reflect partisans' expressive reporting on surveys? To answer this question, we rely on a novel dataset of Bing searches related to housing, automobiles, and stock market purchases by partisans from February 2016 to July 2017. We find that in the aftermath of the 2016 election, Democrats, as members of the losing party, were modestly less likely to search for both house and car purchase terms. Republicans showed no change. This shift in investment behavior among Democrats suggests that partisans' survey responses are at least partially due to different beliefs about the economy, rather than just expressive reporting. [ABSTRACT FROM AUTHOR]

This study aims to determine the position of the murabahah contract in BSI Griya Hasanah Financing at Bank Syariah Indonesia Palangkaraya Diponegoro Branch Office. In addition, to find out how the implementation of BSI Griya Hasanah financing products with murabahah contracts. The method used is qualitative with a descriptive analytical method. Data collection techniques through interviews with Bank Syariah Indonesia KC Palangkaraya Diponegoro, as well as a documentation approach and also literature studies related to this study. The results of the study found that the BSI Griya Hasanah financing product is appropriate if paired with a murabahah contract because in principle the transaction, the Islamic bank will purchase the house or apartment desired by the customer (the bank acts as the homeowner) and then sell the house or apartment to the customer in installments. This murabahah contract also has a strong foundation from the three basic laws of Islam, the Qur'an, Hadith and Ijma. Based on Q.S Al-Baqarah:275, hadith from Suhaib Ar-Rumi r.a and Fatwa of the National Sharia Council No. 04/DSN-MUI/2000 concerning murabahah financing and multi-service financing No. 44/DSN-MUI/VIII/2004. [ABSTRACT FROM AUTHOR]

Credibly representing category-of-goods mental accounting in an intertemporal optimisation framework is notoriously difficult, as this modelling approach imposes interrelations between the demand for different categories through first-order conditions. This breaks the principle of nonfungibility, contrary to the rationale of mental-accounting theory. Proofs that using intertemporal optimisation is futile in modelling this kind of behaviour are provided, and an alternative is developed: a procedural-behavioural merger of mental accounting and categorisation theories. The merger is necessary to enhance mental-accounting theory, which by itself does not inform about how mental budgets are formed, what they include and how money is spent from various accounts. A classification of six basic consumer types was devised, basing on the differences between their mental-accounting systems and variations of changes of expenditure in response to fluctuations of net disposable income and other possible stimuli. Representing the consumer problem as a behavioural procedure including spending on nondurable and frequently-bought durable goods as well as decisions whether or not to purchase very expensive durable goods, such as houses and flats, allows to model real-world features such as infrequent purchases and rare debt-taking. The devised working-life cycle models of consumer behaviour are consistent with microeconomic evidence on consumption, including those features that are not accounted for by various versions of the permanent income or buffer-stock models. [ABSTRACT FROM AUTHOR]