The uncertainty in the Argentine real estate market forces many local investors assess alternatives outside borders. And in that menu, Miami has become one of the favorite dishes.
Developers operating in this market know that situation and that is why more and more are coming into the country to offer their products.
For instance, US-based Related Group, owned by Argentine businessman Jorge Perez just introduced in the country, through the chairman of the Division of Condominiums, Carlos Rosso, a series of ventures that will open in mid-2016. "Are each Argentine increasingly looking to invest in the Miami real estate market, "confirms Rosso.
One of the proposals is Brickell Heights; is a two-tower condominium with over 690 residential units, located at 850 South Miami Avenue. "More and more investors buying departments to hire them, not to go live. These investments allow a 5% annual return, plus appreciation of good, "explained the representative of the firm. The square meter in one of these homes costs $ s4.000.
In the local market rent is similar but in pesos.
The second proposal is Hyde Beach. "We invented a way to sell a little different, where people can buy an apartment, but with the option to rent per day when not in use. In this case, there is a hotel company which will manage the rental pool, told the businessman. Thus, a person can acquire an apartment and to use it as long as you want and the rest of the days rent. With this income the owner can cover costs and also getting a return on your investment. The prices for these units, fully equipped, ranging from USD $ 5000 and the $ s6.000/m2.
The purchaser of a property has to know that the above price includes rental service per day with the company to find its position and fully furnished condos.
The third project in dance is Paradise Bay. Located just five minutes from the new Brickell CitiCentre complex will consist of two towers with 345 residences from 1 to 4 bedrooms, "all with a panoramic view with a value of $ 4,200 per m2" said Rosso. Among the international figures that his department already assured Paradise Bay is sportsman Argentine Manu Ginobili, Arantxa Sánchez Vicario and international DJ, David Guetta.
Miami is still a very expensive city to rent compared to the rest of the United States. The values in round vacation in $ 1,600, which means a third of what it costs in Chicago or New York half.
The real estate developer, since its founding in 1979, has completed 80,000 departments. Besides construction in Miami, the company raises modern buildings in Brazil, Mexico, Uruguay, Colombia and Panama.
Fall in property prices
The average price of a home in the City of Buenos Aires increased 54.6% in dollars and 8% in dollars between late January and March 2013, while the sale of new or used property continues to be depressed, according to the Association of Notaries City of Buenos Aires.
The amount of deeds of sale of properties in Capital fell 53.7% in January compared to last December and 0.8% compared to January 2013. 2,027 events were recorded.
Monday, June 23, 2014
Friday, June 20, 2014
Renting an apartment in Miami represents 50% of an average household income
As Secretary of Housing and Urban Development United States, Shaun Donovan says "is the worst crisis ever in the rental market." From January to March, the payment of rent went assume 23% to 47% of revenue, a study center analysis 'Zillow', specializing in real estate. The national average is 30%.
This is particularly worrying for new immigrants or employees of companies that have been installed in South Florida, particularly those whose companies do not subsidize them accommodation.
The worst is that there is no solution in sight and the margin will continue to rise, experts agree, because the increase in rents is due to stagnation of property values. Spaces are bought as an investment and its owners, also arms with the crisis, want to recover the money invested and that affects the tenant.
There is another factor to be a critical stage in south Florida. The number of houses and apartments for rent has decreased dramatically, the construction industry is almost paralyzed and with each passing day there are fewer places to live in rented Miami, a metropolitan area that admitted an average of 300 families per week, trying installed in a state where, despite everything, the cost of living is one of the cheapest in the country.
An alternative, though precarious, is installed outside of Miami, even in an adjacent county, but even in these cases is not cheap but will save on a holiday since commuting costs soar because Florida has no transport infrastructure developed public and the private car is the common way to go to work, resulting in fuel and maintenance costs.
"The rent increase was much that I had no choice but to go live with a friend.'ve Been living only rented for 11 years, and I can no more," he told the newspaper The Miami Herald, Arthur Breton, manager a department store.
According to official data, most of the apartments for rent that have flooded the market in the last year belong to foreigners who have purchased as an investment property, own not even live in the U.S. and deliver the property management to a specialized company.
On the other hand, buying a property to live in it does not seem to be a viable alternative for many. If a decade ago banks were generous in lending and fixed monthly benefit at acceptable levels, since the real estate bubble burst, financial institutions are forcing customers to pay tickets 20% or 30% of the value of property. And no matter what your business can fit into potential incentives to support the purchase of homes approved by the administration of Barack Obama.
"It's a tough situation. Let's see how the next two to three years for young people will be very difficult to achieve independence from parents and retirees will start having to leave their homes or apartments because pensions are not enough" WORLD anticipates, real estate analyst, Samuel McCaine.
This is particularly worrying for new immigrants or employees of companies that have been installed in South Florida, particularly those whose companies do not subsidize them accommodation.
The worst is that there is no solution in sight and the margin will continue to rise, experts agree, because the increase in rents is due to stagnation of property values. Spaces are bought as an investment and its owners, also arms with the crisis, want to recover the money invested and that affects the tenant.
There is another factor to be a critical stage in south Florida. The number of houses and apartments for rent has decreased dramatically, the construction industry is almost paralyzed and with each passing day there are fewer places to live in rented Miami, a metropolitan area that admitted an average of 300 families per week, trying installed in a state where, despite everything, the cost of living is one of the cheapest in the country.
An alternative, though precarious, is installed outside of Miami, even in an adjacent county, but even in these cases is not cheap but will save on a holiday since commuting costs soar because Florida has no transport infrastructure developed public and the private car is the common way to go to work, resulting in fuel and maintenance costs.
"The rent increase was much that I had no choice but to go live with a friend.'ve Been living only rented for 11 years, and I can no more," he told the newspaper The Miami Herald, Arthur Breton, manager a department store.
According to official data, most of the apartments for rent that have flooded the market in the last year belong to foreigners who have purchased as an investment property, own not even live in the U.S. and deliver the property management to a specialized company.
On the other hand, buying a property to live in it does not seem to be a viable alternative for many. If a decade ago banks were generous in lending and fixed monthly benefit at acceptable levels, since the real estate bubble burst, financial institutions are forcing customers to pay tickets 20% or 30% of the value of property. And no matter what your business can fit into potential incentives to support the purchase of homes approved by the administration of Barack Obama.
"It's a tough situation. Let's see how the next two to three years for young people will be very difficult to achieve independence from parents and retirees will start having to leave their homes or apartments because pensions are not enough" WORLD anticipates, real estate analyst, Samuel McCaine.
Monday, June 16, 2014
Cai confidence builders houses U.S.
Confidence among home builders in the U.S. unexpectedly fell in May to its lowest level in a year, said Thursday the National Association of Home Builders (NAHB, for its acronym in English).
The Housing Market Index NAHB / Wells Fargo gave to 45 in May from a downward revision of 46 April, the group said in a statement.
Economists polled by Reuters predicted that the indicator would pick 49 in May.
The Housing Market Index NAHB / Wells Fargo gave to 45 in May from a downward revision of 46 April, the group said in a statement.
Economists polled by Reuters predicted that the indicator would pick 49 in May.
Friday, June 13, 2014
The long road to recovery in the U.S.
It's June 2014, and that means it's been five years since the Great Recession officially ended in the United States. If you do not feel in the mood to celebrate this milestone, you're not alone.
Most Americans still rate the economic situation as "bad" and for good reason: The job recovery is the slowest in history, wages have barely risen, house prices are still below their peak and More Americans than ever are using food stamps.
The ordinary people do not feel the recovery because, frankly, has not reached to them.
So how long will the healing process? Economists surveyed by CNNMoney expect a full recovery is still two or three years away.
"The labor market is the scar of the economy that has persisted since the Great Recession, the financial and real estate crisis. May be disappearing, but it is still clearly visible and will remain so in the coming years, "notes Sean Snaith, an economics professor at the University of Central Florida.
This is what America has come: Technically, the Great Recession ended in June 2009 This was determined by the National Bureau of Economic Research, an independent group responsible for officially set the beginning and end of economic cycles from economists. 1920s.
Why choose that date? In essence, then, 2009 was when the bleeding stopped and began the slow process of healing. After that point, the economy began to rebound. Auto sales began to rise, and the slowdown in the manufacturing sector ended. The housing prices bottomed out and eventually began to climb again, and the stock market came back to life.
Today, five years later, the economy and the stock market in the United States are at historic highs. States such as North Dakota and Texas are benefiting from energy-related boom. Jobs in the health sector continue to grow, and are also regaining professional positions in offices. There are also more low-wage jobs in restaurants and bars.
But the recovery is far from advancing at a rapid pace. Was rather a long, slow march, and this is the key component is missing: The labor market in general.
Why is the country has not fully recovered? Overall, the U.S. economy lost 8.7 million jobs in the recession, half of whom were from blue collar industries like construction and manufacturing. As the housing market collapsed, the states of the Sun Belt region as Nevada, Florida and Arizona suffered the loss of jobs sharper, and today, the labor markets in these states are below their pre-recession peak.
The recovery itself is occurring, but is too slow for many Americans. The economy has not recovered all the jobs lost during the crisis, let alone created new enough to keep pace with a growing population. As of April, about 3.5 million people had been unemployed for six months or more. (That's more than the population of Chicago.)
One of the clearest signs of recovery is the booming stock market, but only half of Americans own shares, either directly or through a retirement account, and for many, the amount is small. Actually, they are the richest households who have benefited from the bull market of five years.
Households earning $ 394.000 or more in 2012 (the richest 1%) accounted for nearly 95% of the income gains in the first three years of recovery, according to economists at the forefront of research on inequality income, Thomas Piketty and Emmanuel Saez. Meanwhile, the income of the remaining 99% remained virtually stagnant.
The housing prices have not recovered yet: For the middle class, the majority of its assets is tied to the value of your home, and the prices of residential real estate have not returned to its peak.
"No wonder that many people feel that the economy is not in good shape," warns James Smith, chief economist at Parsec Financial. "Their incomes are lower than in 2007 or the value of your home is much lower then."
Every American - including children - is worse ($ 4.700 less per year) than it would be if the economy had not entered recession, calculated Lawrence Yun, chief economist of the National Association of Realtors. Of course some are better and others worse, but that's the average loss.
"The gap is still large," Yun holds. "After a recession, as a rule to offset the decline, the economy must grow at 4% to 5% per year." Instead, the economy has grown at a rate of about 2% annually.
Prospects for 2014 are optimistic, many economists predict that the U.S. economy will grow more than 3% this year. That said, even at that rate, a full recovery will take several years.
Most Americans still rate the economic situation as "bad" and for good reason: The job recovery is the slowest in history, wages have barely risen, house prices are still below their peak and More Americans than ever are using food stamps.
The ordinary people do not feel the recovery because, frankly, has not reached to them.
So how long will the healing process? Economists surveyed by CNNMoney expect a full recovery is still two or three years away.
"The labor market is the scar of the economy that has persisted since the Great Recession, the financial and real estate crisis. May be disappearing, but it is still clearly visible and will remain so in the coming years, "notes Sean Snaith, an economics professor at the University of Central Florida.
This is what America has come: Technically, the Great Recession ended in June 2009 This was determined by the National Bureau of Economic Research, an independent group responsible for officially set the beginning and end of economic cycles from economists. 1920s.
Why choose that date? In essence, then, 2009 was when the bleeding stopped and began the slow process of healing. After that point, the economy began to rebound. Auto sales began to rise, and the slowdown in the manufacturing sector ended. The housing prices bottomed out and eventually began to climb again, and the stock market came back to life.
Today, five years later, the economy and the stock market in the United States are at historic highs. States such as North Dakota and Texas are benefiting from energy-related boom. Jobs in the health sector continue to grow, and are also regaining professional positions in offices. There are also more low-wage jobs in restaurants and bars.
But the recovery is far from advancing at a rapid pace. Was rather a long, slow march, and this is the key component is missing: The labor market in general.
Why is the country has not fully recovered? Overall, the U.S. economy lost 8.7 million jobs in the recession, half of whom were from blue collar industries like construction and manufacturing. As the housing market collapsed, the states of the Sun Belt region as Nevada, Florida and Arizona suffered the loss of jobs sharper, and today, the labor markets in these states are below their pre-recession peak.
The recovery itself is occurring, but is too slow for many Americans. The economy has not recovered all the jobs lost during the crisis, let alone created new enough to keep pace with a growing population. As of April, about 3.5 million people had been unemployed for six months or more. (That's more than the population of Chicago.)
One of the clearest signs of recovery is the booming stock market, but only half of Americans own shares, either directly or through a retirement account, and for many, the amount is small. Actually, they are the richest households who have benefited from the bull market of five years.
Households earning $ 394.000 or more in 2012 (the richest 1%) accounted for nearly 95% of the income gains in the first three years of recovery, according to economists at the forefront of research on inequality income, Thomas Piketty and Emmanuel Saez. Meanwhile, the income of the remaining 99% remained virtually stagnant.
The housing prices have not recovered yet: For the middle class, the majority of its assets is tied to the value of your home, and the prices of residential real estate have not returned to its peak.
"No wonder that many people feel that the economy is not in good shape," warns James Smith, chief economist at Parsec Financial. "Their incomes are lower than in 2007 or the value of your home is much lower then."
Every American - including children - is worse ($ 4.700 less per year) than it would be if the economy had not entered recession, calculated Lawrence Yun, chief economist of the National Association of Realtors. Of course some are better and others worse, but that's the average loss.
"The gap is still large," Yun holds. "After a recession, as a rule to offset the decline, the economy must grow at 4% to 5% per year." Instead, the economy has grown at a rate of about 2% annually.
Prospects for 2014 are optimistic, many economists predict that the U.S. economy will grow more than 3% this year. That said, even at that rate, a full recovery will take several years.
Friday, April 4, 2014
Keys to foreigners who want to buy in the U.S.
The real estate market will certainly never be a temptation for foreigners. It is an investment that can be classified as one of the safest. Always be above any inflation , because their value tends to increase steadily and they are generally profitable .
Foreigners residing in the country legally enjoy the benefits as if they were Americans when a transaction citizens, can also be financed, if they meet the requirements of the mortgage banks . In general the procedure is simpler and less bureaucratic than in any other country . Nonresident aliens can also buy property without restriction even a tourist around . Today there is no impediment to buying a house or condo, for personal use or for profit on it, either an individual or a corporation. What is necessary is to be advised by knowledgeable professionals in the field so that your investment is 100 % safe and beneficial .
The prices offered by the U.S. real estate market have exceeded any speculative . For example , in South Florida there are properties that were previously valued at $ s80.000 and is now being marketed to only U.S. $ s20.000 in foreclosure process ( foreclosure) held by financial institutions.
Cash is king when it comes to buying. Today banks are offering properties in average values of $ s35.000 are saturated because of those properties and want to give a quick exit. They also offer loans up to 70 % of the property value with rates of 6% for foreigners who want to invest in the United States.
places
The areas with higher foreign investment are Miami, Fort Lauderdale and West Palm Beach. These areas have a tourist profile , they are used for leisure purposes and to rent them for short periods, while others are with investor profile and departments looking to rent all year round. Although Florida is the most sought-after location , the Manhattan real estate market is the most promising of all the country , receiving more than 40 million people a year with an unbeatable buying power.
The real estate sector in the United States has become the primary attraction for investors with varied capitals , ranging from 50,000 to $ 350,000. This market is a potential that has contributed to revive the economy on a large scale after the fall suffered in 2010 from 33% today grew 70% and Latino sum investors buy for $ s82.000 millions around the country , a figure that is growing day by day.
Notably purchase any property within the United States does not grant any immigration status or work permit or green card . Foreigners who want to invest in real estate can do so and subject to the immigration rules for non-residents at the time of taxed investors or collect your winnings . The visa for investors buying property is still a bill expected to become law soon.
While this is an acceptable fear from foreign investors , failing to remain full-time to care for and manage their properties or do it in the distance, there are reliable companies who accompany clients throughout the process , ranging from the purchase of the property to a management plan , based entirely on legal standards, procedures, ratings, checks , insurance, financial statements and tax return. The foreign investor is protected from all angles , you only know how to choose the right equipment.
Foreigners residing in the country legally enjoy the benefits as if they were Americans when a transaction citizens, can also be financed, if they meet the requirements of the mortgage banks . In general the procedure is simpler and less bureaucratic than in any other country . Nonresident aliens can also buy property without restriction even a tourist around . Today there is no impediment to buying a house or condo, for personal use or for profit on it, either an individual or a corporation. What is necessary is to be advised by knowledgeable professionals in the field so that your investment is 100 % safe and beneficial .
The prices offered by the U.S. real estate market have exceeded any speculative . For example , in South Florida there are properties that were previously valued at $ s80.000 and is now being marketed to only U.S. $ s20.000 in foreclosure process ( foreclosure) held by financial institutions.
Cash is king when it comes to buying. Today banks are offering properties in average values of $ s35.000 are saturated because of those properties and want to give a quick exit. They also offer loans up to 70 % of the property value with rates of 6% for foreigners who want to invest in the United States.
places
The areas with higher foreign investment are Miami, Fort Lauderdale and West Palm Beach. These areas have a tourist profile , they are used for leisure purposes and to rent them for short periods, while others are with investor profile and departments looking to rent all year round. Although Florida is the most sought-after location , the Manhattan real estate market is the most promising of all the country , receiving more than 40 million people a year with an unbeatable buying power.
The real estate sector in the United States has become the primary attraction for investors with varied capitals , ranging from 50,000 to $ 350,000. This market is a potential that has contributed to revive the economy on a large scale after the fall suffered in 2010 from 33% today grew 70% and Latino sum investors buy for $ s82.000 millions around the country , a figure that is growing day by day.
Notably purchase any property within the United States does not grant any immigration status or work permit or green card . Foreigners who want to invest in real estate can do so and subject to the immigration rules for non-residents at the time of taxed investors or collect your winnings . The visa for investors buying property is still a bill expected to become law soon.
While this is an acceptable fear from foreign investors , failing to remain full-time to care for and manage their properties or do it in the distance, there are reliable companies who accompany clients throughout the process , ranging from the purchase of the property to a management plan , based entirely on legal standards, procedures, ratings, checks , insurance, financial statements and tax return. The foreign investor is protected from all angles , you only know how to choose the right equipment.
Wednesday, April 2, 2014
Exceed 1 million new homes in the U.S. in March
The growth rate of housing construction grew by 7 % compared to February, to 1.04 million, a figure adjusted for seasonal factors , reported Tuesday the Commerce Department .
Building departments, which tend to fluctuate from month to month, led the growth jump almost 31 % to an annual rate of 417,000 , the fastest pace since January 2006.
However , construction of single-family homes , which make up almost two-thirds of the market, fell 4.8 % to an annual rate of 619,000 . It was down from the pace of February, when it registered 650,000 , the most since May 2008. The government said the February rate was 5.2% higher than previously estimated .
Applications for building permits, an estimate of future construction, fell 3.9 % to an annual pace of 902,000 . He lowered with respect to 939,000 requests for February, which were also the largest in five years.
Scott Laurie , President of Olson Homes , said the decline last month, construction of houses is not a reflection of what happens in the market.
The shortage of land for new housing construction has led to several contractors to ask local governments to adopt new land for urban development , he said. The process can take 12 to 18 months. A survey released Monday indicated contractors similar concerns.
" It will continue rising to new construction as the year and there is a new construction projects ," Laurie said.
It is expected that the increase in housing construction will contribute to economic growth in 2013 for the second consecutive year, a reversal of the trend during the period from 2006 to 2011 , when he led to economic stagnation .
Deutsche Bank forecast that housing construction hit an annual rate of 1.2 million by year-end . Brett Ryan , an economist at Deutsche Bank, said the rate could rise to 0.5% growth in 2013. This would be the greatest contribution of the housing sector since 2004.
Building departments, which tend to fluctuate from month to month, led the growth jump almost 31 % to an annual rate of 417,000 , the fastest pace since January 2006.
However , construction of single-family homes , which make up almost two-thirds of the market, fell 4.8 % to an annual rate of 619,000 . It was down from the pace of February, when it registered 650,000 , the most since May 2008. The government said the February rate was 5.2% higher than previously estimated .
Applications for building permits, an estimate of future construction, fell 3.9 % to an annual pace of 902,000 . He lowered with respect to 939,000 requests for February, which were also the largest in five years.
Scott Laurie , President of Olson Homes , said the decline last month, construction of houses is not a reflection of what happens in the market.
The shortage of land for new housing construction has led to several contractors to ask local governments to adopt new land for urban development , he said. The process can take 12 to 18 months. A survey released Monday indicated contractors similar concerns.
" It will continue rising to new construction as the year and there is a new construction projects ," Laurie said.
It is expected that the increase in housing construction will contribute to economic growth in 2013 for the second consecutive year, a reversal of the trend during the period from 2006 to 2011 , when he led to economic stagnation .
Deutsche Bank forecast that housing construction hit an annual rate of 1.2 million by year-end . Brett Ryan , an economist at Deutsche Bank, said the rate could rise to 0.5% growth in 2013. This would be the greatest contribution of the housing sector since 2004.
Tuesday, April 1, 2014
The impact of immigrants to the real estate market
Overall , immigrants have generated $ 3.7 billion in housing wealth in the U.S., helping to stabilize communities across America.
For an interactive map of the Impact of Immigration on the Real Estate Market you can click here .
Question: What is the main conclusion of this map?
Answer: Research shows that an increase in the absolute number of immigrants in a particular county in the period 2000-2010 resulting economic gains as well as increased demand for goods and services produced locally , hence an increase in the birth of individuals , which are reflected in the housing market.
The research found that immigrants revitalize undesirable neighborhoods in expensive metropolitan areas , opening new options for the working and middle classes buy U.S. homes. Also supports immigration housing market without exacerbating the worst affordability problems of the nation , as the immigrants themselves tend not to settle in the most expensive places .
Immigrants are also attracted by the Sun Belt ( U.S. region extending from the Atlantic coast to the Pacific coast east of the west ), mainly to cities like Houston, where housing has always been more affordable.
Question: How does this research say that immigration makes communities thrive ? Not the other way around , that immigrants will move to more affluent communities ?
Answer: The basic problem of the chicken and the egg was the most important challenge in the methodology . Fortunately, it is a problem that many labor economists have faced before, and the strategy used in this report reflects the techniques that have been used frequently in several reviewed by our peers about the impact of immigration on the labor market studies.
Immigrants tend to favor communities with many opportunities , but it is also clear that benefit the communities where other immigrants from their own NATIONALIT are already living .
For many immigrants , the presence of a key social network to find housing, employment and family -win for the local labor market decisions .
The immigrants would move to a county for two reasons : because the local economy is strong, or because there is a network of immigrants already exists in that location. The basic strategy of this research is to analyze the impact of immigrants who opt for the latter reason , and not the first . A statistical technique known as instrumental variable analysis to execute the strategy used .
Question. The average American home is bigger than it used to be . Does the research is saying that both houses and the immigrant population has grown over time ?
Response . The study explains the main features of the homes : when the houses were built and are single-family homes or apartments ? It also controls the key indicators of housing market : vacancy rates , average prices ten years ago , and the large number of units in a county.
The study also includes statistical controls to account for all permanent features of a county, such as the shortage of building land , and all economic and housing trends nationwide .
Question. Are the results were skewed by the housing bubble and the population explosion ?
Response . The results are based on a study of the entire period between 1970 and 2010 , of which the housing bubble burst and are a small part . Moreover , the study no data on housing prices in the period between 2001 and early 2006, which was the sharpest property inflation period.
For an interactive map of the Impact of Immigration on the Real Estate Market you can click here .
Question: What is the main conclusion of this map?
Answer: Research shows that an increase in the absolute number of immigrants in a particular county in the period 2000-2010 resulting economic gains as well as increased demand for goods and services produced locally , hence an increase in the birth of individuals , which are reflected in the housing market.
The research found that immigrants revitalize undesirable neighborhoods in expensive metropolitan areas , opening new options for the working and middle classes buy U.S. homes. Also supports immigration housing market without exacerbating the worst affordability problems of the nation , as the immigrants themselves tend not to settle in the most expensive places .
Immigrants are also attracted by the Sun Belt ( U.S. region extending from the Atlantic coast to the Pacific coast east of the west ), mainly to cities like Houston, where housing has always been more affordable.
Question: How does this research say that immigration makes communities thrive ? Not the other way around , that immigrants will move to more affluent communities ?
Answer: The basic problem of the chicken and the egg was the most important challenge in the methodology . Fortunately, it is a problem that many labor economists have faced before, and the strategy used in this report reflects the techniques that have been used frequently in several reviewed by our peers about the impact of immigration on the labor market studies.
Immigrants tend to favor communities with many opportunities , but it is also clear that benefit the communities where other immigrants from their own NATIONALIT are already living .
For many immigrants , the presence of a key social network to find housing, employment and family -win for the local labor market decisions .
The immigrants would move to a county for two reasons : because the local economy is strong, or because there is a network of immigrants already exists in that location. The basic strategy of this research is to analyze the impact of immigrants who opt for the latter reason , and not the first . A statistical technique known as instrumental variable analysis to execute the strategy used .
Question. The average American home is bigger than it used to be . Does the research is saying that both houses and the immigrant population has grown over time ?
Response . The study explains the main features of the homes : when the houses were built and are single-family homes or apartments ? It also controls the key indicators of housing market : vacancy rates , average prices ten years ago , and the large number of units in a county.
The study also includes statistical controls to account for all permanent features of a county, such as the shortage of building land , and all economic and housing trends nationwide .
Question. Are the results were skewed by the housing bubble and the population explosion ?
Response . The results are based on a study of the entire period between 1970 and 2010 , of which the housing bubble burst and are a small part . Moreover , the study no data on housing prices in the period between 2001 and early 2006, which was the sharpest property inflation period.
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