Download or read book The Real Estate Market in the Aftermath of September 11 written by Crocker H. Liu and published by . This book was released on 2004 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the reaction of the financial markets to the terrorist attack on the World Trade Center and how their behavior compared to the subsequent resolution in the corresponding real asset markets. This event provides an ideal setting to evaluate the accuracy of the market's reaction to external shocks since, unlike almost all studies of economic events, this tragedy was certainly unanticipated and thus absent from pre-existing market expectations, its overall impact was unclear, and the subsequent week of market closure gave market participants sufficient time to sort out the complex impact of the event on market prices. Our analysis of Real Estate Investment Trusts (REITs) with New York office exposure outside of the downtown area shows that, during the period of market closure and the first trading day, the equity market did not accurately anticipate how this event would impact office REITs. Specifically, we find that REITs with significant exposure to the New York market showed significant gains relative to REITs without New York exposure (an average difference of 4.057% of market value from the close on September 10 to the opening on September 17), and that this abnormal return disappeared only in November 2001. However, an examination of the underlying real asset market's performance over the first few months after September 11 shows that New York properties significantly under-performed similar office properties in the U.S. This evidence provides little support for the notion that financial markets can rapidly and correctly price significant shocks to the underlying economy.
Download or read book The Impact Ot the September 11 2001 Terrorist Attacks on the US Hotel Real Estate Market written by Jones Lang LaSalle Hotels and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exogenous Shocks and Real Estate Rental Markets written by Franz Fuerst and published by . This book was released on 2005 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Any attempt to measure the impact of the 9/11 attacks is faced with the difficulty of separating the effects of the attacks from the impact of a wider economic recession and other simultaneous events. This study attempts to isolate the effect on New York office rental and vacancy rates by applying an event study methodology. The results support the hypothesis of significant effects of the September 11 attacks in the New York office market. These effects seem to be limited, however, in terms of their spatial and temporal impact. While the New York office market as a whole has demonstrated remarkable resiliency in the wake of the attack, the downtown market and particularly the World Trade Center submarket have been affected more clearly. Measured three years after the attack, however, cumulative abnormal changes in vacancy rates are moderate in the downtown submarket, indicating a much weaker medium-term impact of the attack than expected in its aftermath.
Download or read book Terrorism and Business The Impact of September 11 2001 written by Yonah Alexander and published by BRILL. This book was released on 2021-10-01 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely book addresses the threats to and responses by Corporate America, U.S. labor, and the U.S. government triggered by the unprecedented September 11, 2001, terrorist attacks. The text details these incidents and assesses their human and financial costs; the multi-dimensional aspects of terrorism and its historical context; and the U.S. business community at home and abroad as principal targets of terrorism over the last 40 years. Next, the volume describes the costs of the September 11 attacks in terms of economic indicators, financial markets, and the impact on local, state, and national levels. The publication covers the multi-faceted responses of Corporate America focusing on industry sectors, companies, and implications to conducting business in the twenty-first century. Industries and companies that may experience growth as a result of corporate, government, and military responses to terrorism are highlighted. Terrorism’s impact on the physical, psychological, and financial well-being of U.S. labor is described. Management costs due to terrorism are analyzed. Government responses to terrorism in terms of assuaging financial and human costs, stimulating the economy, and taking measures to reduce the threat of future terrorist incidents are noted. The conclusion highlights lessons learned and discusses future terrorist threats. An extensive bibliography enables the reader to reference additional materials for further study. An index provides easy access to key subjects in the book. Published under the Transnational Publishers imprint.
Download or read book Survey of Real Estate Trends written by and published by . This book was released on 1996-07 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Is Terrorism Eroding Agglomeration Economies in Central Business Districts Lessons from the Office Real Estate Market in Downtown Chicago written by Alberto Abadie and published by . This book was released on 2010 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: The attacks of September 11, 2001, and more recently the Madrid and London downtown train bombings, have raised concerns over both the safety of downtowns and the continuous efforts by terrorists to attack areas of such high density and significance. This article employs building-level data on vacancy rates to investigate the impact of an increased perception of terrorist risk after 9/11 on the office real estate market in downtown Chicago. Chicago provides the perfect laboratory to investigate the effects of an increase in the perceived level of terrorist risk in a major financial district. Unlike in New York, the 9/11 attacks did not restrict directly the available office space in downtown Chicago. Moreover, the 9/11 attacks induced a large increase in the perception of terrorist risk in the Chicago Central Business District, which includes the tallest building in the U.S. (the Sears Tower) and other landmark buildings which are potential targets of large-scale terrorist attacks. Our results show that, following the 9/11 attacks, vacancy rates experienced a much more pronounced increase in the three most distinctive Chicago landmark buildings (the Sears Tower, the Aon Center and the Hancock Center) and their vicinities than in other areas of the city of Chicago. Our results suggest that economic activity in Central Business Districts can be greatly affected by changes in the perceived level of terrorism.
Download or read book Resilient City written by Howard Chernick and published by Russell Sage Foundation. This book was released on 2005-08-25 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: The strike against the World Trade Center on September 11, 2001, was a violent blow against the United States and a symbolic attack on capitalism and commerce. It shut down one of the world's busiest commercial centers for weeks, destroyed or damaged billions of dollars worth of property, and forced many New York City employers to slash their payrolls or move jobs to other areas. The immediate economic effect was substantial, but how badly did 9/11 affect New York City's economy in the longer term? In Resilient City, Howard Chernick and a team of economic experts examine the city's economic recovery in the three years following the destruction of the Twin Towers. Assessing multiple facets of the New York City economy in the years after 9/11, Resilient City discerns many hopeful signs among persistent troubles. Analysis by economist Sanders Korenman indicates that the value of New York–based companies did not fall relative to other firms, indicating that investors still believe that there are business advantages to operating in New York despite higher rates of terrorism insurance and concerns about future attacks. Cordelia Reimers separates the economic effect of 9/11 from the effects of the 2001 recession by comparing employment and wage trends for disadvantaged workers in New York with those in five major U.S. cities. She finds that New Yorkers fared at least as well as people in other cities, suggesting that the decline in earnings and employment for low-income New York workers in 2002 was due more to the recession than to the effects of 9/11. Still, troubles remain for New York City. Howard Chernick considers the substantial fiscal implications of the terrorist attacks on New York City, estimating that the attack cost the city about $3 billion in the first two years alone; a sum that the city now must make up through large tax increases, spending cuts, and substantial additional borrowing, which will inevitably be a burden on future budgets. The terrorist attacks of September 11 dealt a severe blow to the economy of New York City, but it was far from a knock-out punch. Resilient City shows that New York's dynamic, flexible economy has absorbed the hardships inflicted by the attacks, and provides a thorough, authoritative A Russell Sage Foundation September 11 Initiative Volume
Download or read book The Impact of 9 11 on Politics and War written by M. Morgan and published by Springer. This book was released on 2009-08-03 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Impact of 9/11 on Politics and War is the first volume of the six-volume series The Day that Changed Everything? edited by Matthew J. Morgan. The series brings together from a broad spectrum of disciplines the leading thinkers of our time to reflect on one of the most significant events of our time.
Download or read book All Real Estate Is Local written by David Lereah and published by Crown Currency. This book was released on 2007-04-03 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whatever the national trends are with regard to real estate – whether they are booming or busting–what really matters is what the market conditions are in your region, town, or neighborhood. For as David Lereah points out, in the end, all real estate is local. What does that mean? Even during the real estate boom of 2001-2005, a great many cities and regions did not participate in the boom–they lagged behind, or even decreased in value. Similarly, when prices began to fall nationally, there were plenty of regions and locales where prices rose, and sales boomed. As Lereah makes clear, the most important factor in buying or selling a home isn’t what is going on nationally–it is what is going on in your local market. Evaluating present and future trends and influences in your region or neighborhood is essential to creating long term wealth, whether you are in a buyer’s or a seller’s market. And David Lereah, as the Chief Economist for the National Association of Realtors, shows you how to determine the conditions in your neighborhood. Lereah reveals how to: Evaluate the DNA of homes in the town or county or region you are considering (every town has its own real estate DNA–the characteristics that make a region or city more or less desirable to live in). Determine whether property values in your targeted neighborhood are on the rise. Research future real estate influences and trends, from migration into or out of the region, to plans to attract or develop new businesses in the area. Understand the local factors that can affect your investment in the future. Countless books offer advice on how to buy and sell a home. But ALL REAL ESTATE IS LOCAL is the first book to explain how knowing the ins and outs of the local market you are targeting is essential to deciding when, where, and what to buy.
Download or read book The Impact of 9 11 on Business and Economics written by M. Morgan and published by Springer. This book was released on 2009-08-31 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Impact of 9/11 on Business and Economics is the second volume of the six-volume series The Day that Changed Everything? edited by Matthew J. Morgan. The series brings together from a broad spectrum of disciplines the leading thinkers of our time to reflect on one of the most significant events of our time.
Download or read book Impact of Faulty and Fraudulent Real Estate Appraisals on Federally Insured Financial Institutions and Related Agencies of the Federal Government written by United States. Congress. House. Committee on Government Operations. Commerce, Consumer, and Monetary Affairs Subcommittee and published by . This book was released on 1986 with total page 1836 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economic Effects Of 9 11 written by Congressional Research Service Library o and published by . This book was released on 2005 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: The tragedy of September 11, 2001 was so sudden and devastating that it may be difficult at this point in time to write dispassionately and objectively about its effects on the U.S. economy. This retrospective review will attempt such an undertaking. The loss of lives and property on 9/11 was not large enough to have had a measurable effect on the productive capacity of the United States even though it had a very significant localized effect on New York City and, to a lesser degree, on the greater Washington, D.C. area. Thus, for 9/11 to affect the economy it would have had to have affected the price of an important input, such as energy, or had an adverse effect on aggregate demand via such mechanisms as consumer and business confidence, a financial panic or liquidity crisis, or an international run on the dollar. It was initially thought that aggregate demand was seriously affected, for while the existing data showed that GDP growth was low in the first half of 2001, data published in October showed that GDP had contracted during the 3rd quarter. This led to the claim that "The terrorist attacks pushed a weak economy over the edge into an outright recession." We now know, based on revised data, this is not so. At the time of 9/11 the economy was in its third consecutive quarter of contraction; positive growth resumed in the 4th quarter. This would suggest that any effects from 9/11 on demand were short lived. While this may be true, several events took place before, on, and shortly after 9/11, that made recovery either more rapid than it might have been or made it possible to take place. First, the Federal Reserve had eased credit during the first half of 2001 to stimulate aggregate demand. The economy responds to policy changes with a lag in time. Thus, the public response may have been felt in the 4th quarter giving the appearance that 9/11 had only a limited effect. Second, the Federal Reserve on and immediately after 9/11 took appropriate action to avert a financial panic and liquidity shortage. This was supplemented by support from foreign central banks to shore up the dollar in world markets and limited the contagion of 9/11 from spreading to other national economies. Nevertheless, U.S. trade with other countries, especially Canada, was disrupted. While oil prices spiked briefly, they quickly returned to their pre-9/11 levels. Thus, it can be argued, timely action contained the short run economic effects of 9/11 on the overall economy. Over the longer run 9/11 will adversely affect U.S. productivity growth because resources are being and will be used to ensure the security of production, distribution, finance, and communication.
Download or read book The Housing Bubble written by Kieran Trass and published by Penguin UK. This book was released on 2009-08-03 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: After a long-running property market boom, all indications are that New Zealand is facing at least half a decade of slow or declining values. This trend is mirrored in most countries across the globe. Kieran Trass, real estate investor, advisor and commentator, reassures us that yes, we can still make money at all stages of the property cycle - slump, recovery and boom. The key is having the right knowledge and information. The Housing Bubble addresses all your real-estate questions, including:'How will we know when the slump is coming to an end?''When is it a good time to buy?' and'When will we see market recovery?
Download or read book September 11 written by Associated Press and published by Sterling. This book was released on 2021-08-03 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: A commemoration of the 20th anniversary of 9/11 as told through stories and photographs from The Associated Press--covering everything from the events of that tragic day to the rebuilding of the World Trade Center and beyond. This important and comprehensive book commemorates the 20th anniversary of September 11 as told through stories and images from the correspondents and photographers of The Associated Press--breaking news reports, in-depth investigative pieces, human interest accounts, approximately 175 dramatic and moving photos, and first-person recollections. AP's reporting of the world-changing events of 9/11; the heroic rescue efforts and aftermath; the world's reaction; Operation Enduring Freedom; the continuing legal proceedings; the building of the National September 11 Memorial & Museum in New York City as a place of remembrance; the rebuilding of downtown NYC and much more is covered. The book tells the many stories of 9/11--not only of the unprecedented horror of that September morning, but also of the inspiring resilience and hope of the human spirit.
Download or read book Assessment of the Impact of NOW Accounts in Massachusetts and New Hampshire written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 1975 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Restless City written by Joanne Reitano and published by Routledge. This book was released on 2010-07 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Restless City: A Short History of New York from Colonial Times to the Present is a short, lively history of the world’s most exciting and diverse metropolis. It shows how New York’s perpetual struggles for power, wealth, and status exemplify the vigor, creativity, resilience, and influence of the nation’s premier urban center. The updated second edition includes nineteen images and brings the story right up through the mayoral election of 2009. In these pages are the stories of a broad cross-section of people and events that shaped the city, including mayors and moguls, women and workers, and policemen and poets. Joanne Reitano shows how New York has invigorated the American dream by confronting the fundamental economic, political, and social challenges that face every city. Energized by change, enriched by immigrants, and enlivened by provocative leaders, New York City’s restlessness has always been its greatest asset.
Download or read book The Impact of Global Terrorism on Economic and Political Development written by Ramesh Chandra Das and published by Emerald Group Publishing. This book was released on 2019-05-13 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited collection seeks to address and analyse the ramifications of terrorism and terrorist activities at a world-level, with a specific focus on the economies and political systems in the Afro-Asian regions.
