2006 Joint AsRES-AREUEA International Conference Brochure

Transcription

2006 Joint
AsRES – AREUEA
International
Conference
June 30 – July 3
Vancouver │ British Columbia
AsRES/AREUEA 2006 Conference Itinerary
Friday, June 30
•
Panel Discussion on Low Income Homeownership Policy (5:30 – 7:00 pm)
•
Graduate Student Poster Session (5:00 – 6:00 pm)
•
AsRES Board Meeting (4:30 – 6:00 pm)
•
Women’s Real Estate Network (6:00 – 6:30 pm)
•
Evening Reception, Hotel Vancouver (The Panorama Roof)
(6:30 – 8:30 pm)
Saturday, July 1
•
Concurrent Sessions (8:00 am - 5:30 pm)
•
Panel Discussion on Real Estate Derivatives: Transforming Real Estate
Investment and Risk Management (3:45 - 5:30 pm)
•
Lunch with Keynote Speaker TBA (12:00 Noon)
•
Welcoming Banquet, Imperial Chinese Restaurant (6:00 pm)
o
Main Floor, Marine Building, 355 Burrard Street
Sunday, July 2
•
Concurrent Sessions (8:00 am - 5:30 pm)
•
Lunch with Keynote Speaker Darlene Williams, HUD (12:00 Noon)
•
Dinner Cruise (6:30 - 10:00 pm), Magic Charm Cruises
o
•
Westin Bayshore Marina, 1601 Bayshore Dr.
Bard on the Beach: “A Midsummer Night’s Dream” (Gates at 6:20, Show at 7:00 pm)
o
1695 Whyte Avenue, Vanier Park

Mainstage Tent, Vanier Park, Kits Point at the Foot of Whyte Avenue
Monday, July 3
•
AsRES Board Meeting (8:00 - 9:00 am)
•
Concurrent Sessions (9:00 - 10:30 am)
3
Friday, June 30
AsRES/AREUEA 2006 Conference Session Schedule
All Sessions Will be Held in the Fairmont Hotel Vancouver
15:30-17:00
WADDINGTON
Session 1:
PANEL ON LOW INCOME HOMEOWNERSHIP POLICY
Chair: Edgar Olsen, University of Virginia
Introductory Remarks: Darlene Williams, US Department for Housing and Urban Development
RICHARD GREEN, The George Washington University
ELLEN MERRY, Federal Reserve Board
JOHN WEICHER, Hudson Institute
16:30-18:00
CORTES ISLAND
AsRES Board Meeting
18:00 - 18:30 CORTES ISLAND
Women's Real Estate Network
4
Friday, June 30
17:00-18:00
BOARDROOM
Session 2:
Graduate Student Poster Session
MARIA TANAKA, University of Tokyo
Yasushi Asami, Center for Spatial Information Science
Estimation of Housing Prices Using the Function of Similarity Between Properties
XI XIA HE, National University of Singapore
Yu Shi Ming, National University of Singapore
Impact of Orientation on Residential Property Value
SAYA NAKATA, University of Tokyo
Yasushi Asami, Center for Spatial Information Science
Prediction of Layout Plans of Houses Using Data of Newly Supplied Houses in the Tokyo
Metropolitan Area
XIN CHEN, National University of Singapore
Loo-Lee Sim, National University of Singapore
Shopping Patterns and Determinants of Shopping Center Success in a Transition
Economy: The Case of Beijing, China
NA LI, University of Hong Kong
Kwong Wing Chau, University of Hong Kong
The Informational Content of Warrants for the Real Estate Market: the Case of Hong Kong
ZE LI, National University of Singapore
Tianjie Zhang, National University of Singapore
Institutional Mechanism of the Property Market in China in a Transitional Economy: A Case Study in
Shanghai
TINGTING HU, National University of Singapore
Jieming Zhu, National University of Singapore
Informal Privatization of Rural Land Use Rights in Peri-urban Beijing
YING LI, National University of Singapore
Seow Eng Ong, National University of Singapore
Sau Kim Lum, National University of Singapore
The Performance of Real Estate Mutual Funds Under Changing Economic Conditions
5
Saturday, July 1, 8:00-9:45
8:00-9:45
CORTES ISLAND
Session 3:
HOUSING #1
Chair: TBA
WEN-CHEIH JACK WU, National Chengchi University
Housing and Elderly Health
BING WANG, Harvard University
The Impact of Governmental Regulations on Residential Sales Transactions
ALLESSANDRA MICHELANGELI, University of Macerata
Fabrice Barthelemy, University of Cergy-Pointoise
Alain Trannoy, EHESS GREQAM-IDEP
Do Sellers Cheat with Figures?
Discussants: TBA
8:00-9:45
GARIBALDI
Session 4:
CANCELLED
6
8:00-9:45
TWEEDSMUIR
Session 5:
INFORMATION IN HOUSING MARKETS
Chair: David Leece, Manchester Metropolitan University, Cheshire
KWONG WING CHAU, University of Hong Kong
Z. X. Jin, University of Hong Kong
Calendar Anomaly in Hong Kong’s Residential Market
LENNON CHOY, The Hong Kong Polytechnic University
Siu Kai Wong, University of Hong Kong
Pricing Under Information Asymmetry - A case Study on Hong Kong's Housing Market From Game
Theoretical Perspectives
YINGXUE CAO, Tsinghua University
Lewis Chan, Hong Kong University of Science and Technology
Li Liao, Tsinghua University
Jianping Mei, New York University
Real Estate Market Sentiment and the Cross Section of Apartment Returns
Discussants: SEOW ENG ONG, National University of Singapore
SUI KAI WONG, University of Hong Kong
RICHARD GREEN, George Washington University
8:00-9:45
WADDINGTON
Session 6:
HOUSING PRICES #1
Chair: Wayne Archer, University of Florida
EDWARD COULSON, Pennsylvania State University
Daniel McMillen, University of Illinois at Chicago
Estimating Time, Age, and Vintage Effects in Housing Prices
CHRISTIAN REDFEARN, University of Southern California
Price Volatility & Rank Stability: The Complex Role of Location in IntraMetropolitan Housing Price Dynamics
CHRISTOPHER CUNNINGHAM, Federal Reserve Bank of Atlanta
Thomas Thibodeau, University of Colorado, Boulder
Homebuyers' Valuation of Protected Open Space: Evidence from Rocky Mountain
Communities
Discussants: JOHN CLAPP, University of Connecticut
JAMES SHILLING, University of Wisconsin
PETER ZORN, Freddie Mac
7
8:00-9:45
BOARDROOM
Session 7:
AUCTIONS
Chair: Carolyn Dehring, University of Georgia
POH HAR NEO, National University of Singapore
Seow Eng Ong, National University of Singapore
Tsur Somerville, University of British Columbia
Winner's Curse: Empirical Evidence From Real Estate Auctions
SAU KIM LUM, National University of Singapore
Danny Ben-Shahar, Technion - Israel Institute of Technology
Yuming Fu, National University of Singapore
Tsur Somerville, University of British Columbia
Developing Downtown: Behavioral Bargaining In Real Estate Markets
VICKEY CHIU-CHIN LIN, National Chengchi University
Connie Susilawati, Queensland University of Technology
Real Estate Market Mechanism Choice: An Experimental Study on Buyer's
Selection Between Auction and Search
Discussants: SIMON STEVENSON, City University
LYNN FISHER. Massachusetts Institute of Technology
JOSEPH OOI, National University of Singapore
10:15-12:00
BOARDROOM
Session 8:
REAL ESTATE RETURNS
Chair: Yongheng Deng, University of Southern California
LIANG PENG, University of Colorado at Boulder
Rainer Schulz, University of Aberdeen
Time Varying Correlation between Real Estate and Stock Returns: An International Analysis
CHARLES KA YUI LEUNG, Chinese University of Hong Kong
Equilibrium Correlations of Asset Prices and Returns
DAVID LING, University of Florida
Jeffery Fisher, Indiana University
Andy Naranjo, University of Florida
The Dynamics of Capital Flows and Property Returns: A Disaggregated Analysis of Metropolitan
Areas and Property Types
Discussants: JIM CLAYTON, University of Cincinnati
BRENT AMBROSE, University of Kentucky
LU HAN, University of Toronto
8
10:15-12:00
WADDINGTON
Session 9:
URBAN ECONOMICS SYMPOSIUM #1
Chair: Bob Helsley, University of British Columbia
RICHARD ARNOTT, Boston College
Congestion Tolling with Agglomeration Economies
SANGHOON LEE, University of British Columbia
The Timing of Signaling: To Study in High School or in College
BOB HELSLEY, University of British Columbia
William C. Strange, University of Toronto
A Game-Theoretic Analysis of Skyscrapers
10:15-12:00
GARIBALDI
Session 10:
HOUSING TENURE TRANSITION
Chair: Raphael Bostic, University of Southern California
YOKO MORIIZUMI, Kanagawa University
Michio Naoi, Keio University
Housing Tenure Transition and The Female Labor Supply in Japan
PIYUSH TIWARI, University of Aberdeen
Michael White, University of Aberdeen
The Risk of Owning a Home - An Analysis of Micodrata from Aberdeen (UK)
The Effects of Price Uncertainty on Home Purchase Decisions
Discussants: TBA
10:15-12:00
CORTES ISLAND
Session 11:
HOUSING PRICES #2
Chair: Simon Stevenson, City University
HELEN BAO, City University of Hong Kong
Semiparametric Modeling of Housing Submarkets
CONSTANTINE KONTOKOSTA, Columbia University
The Price of Victory: The Impact of the Olympic Games on House Prices
JAN ROUWENDAL, Free University
The Impact of Income Shocks on the Price Structure of the Housing Market
Discussants: MARK ANDREW, University of Reading
SIMON STEVENSON, City University
TBA
9
10:15-12:00
TWEEDSMUIR
Session 12:
RETAIL REAL ESTATE
Chair: David Downs, Virginia Commonwealth University
SEUNG YOUNG JEONG, Dankook University
Jinu Kim, University of New South Wales
A Cross-sectional Model of Retail Property Rents in Seoul, Korea
JANE LONDERVILLE, University of Guelph
An Analysis of Changes in the Retail Inventory in Small Towns with the Advent of Big-Box Stores
LOO-LEE SIM, National University of Singapore
Xuan Lui, National University of Singapore
Jieming Zhu, National University of Singapore
Institutional Changes for Land Redevelopment in Transitional China: The Case of Jinhuajie,
Guangzhou
Discussants: ANDREA HEUSON, University of Miami
KERRY VANDELL, University of Wisconsin
12:00-13:30
SATURNA ISLAND
Keynote Speaker: TBA
~ LUNCH ~
13:30-15:15
BOARDROOM
Session 13:
ASSEST PRICING and ALLOCATION
Chair: David Ling, University of Florida
DAVID H. DOWNS, Virginia Commonwealth University
David Sommer, University of Georgia
Sequential Modeling of the Real Estate Allocation Decision
GURAPDESH PANDHER, DePaul University
Susanne Cannon, DePaul University
Norman Miller, University of Cincinnati
A Cross-Sectional Asset-Pricing Analysis of the U.S. Housing Market with Zip Code Data
ROBERT EDELSTEIN, University of California at Berkeley
Global Financial Integration and Real Estate Security Returns
Discussants: STEVEN OTT, University of North Carolina at Charlotte
LIANG PENG, University of Colorado at Boulder
SEOW ENG ONG, National University of Singapore
10
13:30-15:15
WADDINGTON
Session 14:
URBAN ECONOMICS SYMPOSIUM #2
Chair: Bob Helsley, University of British Columbia
SUKKOO KIM, Washington University and NBER
Division of Labor and the Rise of Cities: Evidence from U.S. Industrialization, 1850-1880
VERNON HENDERSON, Brown University and NBER
Ari Kuncoro, University of Indonesia and Brown University
Sick of Local Government Corruption? Vote Islamic
JOSEPH GYOURKO, University of Pennsylvania and NBER
Edward Glaeser, Harvard University and NBER
Housing Cycles
13:30-15:15
TWEEDSMUIR
Session 15:
CORPORATE and OFFICE REAL ESTATE
Chair: Kerry Vandell, University of Wisconsin
TIEN FOO SING, National University of Singapore
Lu Yin, National Unviversity of Singapore
Do Real Estate Holdings and Organization Form Matter in Corporate Governance
of Firms?
SAMEER CHANDAN, University of Pennsylvania
Victor Calanog, University of Pennsylvania
Time Hopper, Reis Inc.
Stabilization in New Construction: When, How, Why – and So What?
MAARTEN JENNEN, RSM Erasmus University
Dirk Brounen, RSM Erasmus University
Clustering Effects on Office Rents
Discussants: TSOYU CALVIN LIN, National Technical Institute of Taiwan
WAYNE ARCHER, University of Florida
CHRIS REDFEARN, University of Southern California
11
13:30-15:15
GARIBALDI
Session 16:
REAL OPTIONS
Chair: Yongheng Deng, University of Southern California
ROSE NENG LAI, University of Macau
Sandy Jia Jin Chen, University of Macau
The Compound Option to Develop in China
TAN LEE, Yuan Ze University
Jyh-Bang Jou, National Taiwan University
Urban Spatial Development: A Real Options Approach
VICTOR CALANOG, University of Pennsylvania
Sameer Chandan, University of Pennsylvania.
Condominium Conversions and the Market Supply and Price of Rental Apartments
YAO-MIN CHIANG, National Chengchi University
Jarjisu Sa-Aadu, University of Iowa
The Value of the Abandonment Option on the Ancillary Business of a BOT Project
13:30-15:15
CORTES ISLAND
Session 17:
CHINA REAL ESTATE
Chair: Siqi Zheng, Harvard University
SHENG ZHOU, National University of Singapore
Urban Growth Across Chinese Cities
BAOSHAN HAN, Georgia Institute of Technology
Spatial Integrity and Social Interactions in Traditional Neighborhoods in Beijing, China
WENBIN LI, Central University of Finance and Economics
Bin Song, Central University of Finance and Economics
Price Dynamics and the Efficiency of the Real Estate Market in China
QIAO SUN, Tsinghua University
Jing Wu, Tsinghua University
Hongyu Liu, Tsinghua University
A New Housing Price Index in Urban China: The Application of Hedonic Method
12
15:45-17:30
WADDINGTON
Session 18:
REAL ESTATE DERIVATIVES PANEL DISCUSSION: Transforming Real Estate Investment and
Risk Management
Chair: Jim Clayton, University of Cincinnati
JEFF FISHER, Indiana University and NCREIF
STANLEY HAMILTON, University of British Columbia
SIMON MALLINSON, Investment Property Databank
HENRY POLLAKOWSKI, Massachusetts Institute of Technology
15:45-17:30
CORTES ISLAND
Session 19:
REAL ESTATE PORTFOLIOS
Chair: Charles Leung, Chinese University of Hong Kong
PAUL ANGLIN, University of Guelph
Shi Fu, University of Windsor
Integrating Illiquid Assets into the Portfolio Decision Process
DAVID HIGGINS, University of Technology, Sydney
Portfolio Allocation Across the Four Quadrants of the Property Investment Market: The Australian
Experience
CHIEN-AN WANG, National Chi-Nan University
Chin-Oh Chang, National Chengchi University
The Portfolio of Direct Real Estate within a Mixed Non-Performing Asset Framework
13
15:45-17:30
GARIBALDI
Session 20:
RACE and HOUSING
Chair: Brendan O'Flaherty, Columbia University
BRENT SMITH, Virginia Commonwealth University
Intrajurisdictional Segmentation of Property Tax Incidence
RAPHAEL BOSTIC, University of Southern California
Richard Martin, University of Georgia
The Role of Housing in Perpetuating Spatial Mismatch
THOMAS BOEHM, University of Tennessee
Alan Schlottmann, University of Nevada, Las Vegas
A Continuous Time Model of Homeownership for First-time Buyers: A Comparison of AfricaAmerican and White Households
Discussants: LEAH BROOKS, McGill University
YU-HSIN TSAI, Feng-Chia University
PIYUSH TIWARI, University of Aberdeen
15:45-17:30
BOARDROOM
Session 21:
AGGLOMERATION
Chair: Sanghoon Lee, University of British Columbia
GERALD A. CARLINO, Federal Reserve Bank of Philadelphia
Satyajit Chatterjee, Federal Reserve Bank of Philadelphia
Robert Hunt, Federal Reserve Bank of Philadelphia
Matching and Learning in Cities: Urban Density and the Rate of Invention
DAVID BARKER, University of Chicago
Slime Mold Cities
RYOHEI NAKAMURA, Okayama University
Changing Agglomeration Economies and Linkage Externalities in Urban Manufacturing Industries
Discussants: VERNON HENDERSON, Brown University
SUKKOO KIM, Washington University
14
15:45-17:30
TWEEDSMUIR
Session 22:
HOUSING PRICES #3
Chair: Christopher Cunningham, Federal Reserve Bank of Atlanta
HENRY YUH-SHENG HORNG, Providence University
The Impact of Fault Sites on Residential Housing Prices
HEONSOO PARK, Chung-Ang University
A Study on the Prediction of Real Estate Prices using Spatiotemporal Autoregressive Model
SU YEON JUNG, Cheju National University
Heonsoo Park, Chung-Ang University
Tae-Ug Rho, Kangnam University
Impact of Educational Variable on Apartment Price in Seoul, Korea
15
Sunday, July 2, 8:00-9:45
8:00-9:45
CORTES ISLAND
Session 23:
REAL ESTATE FINANCE
Chair: Ron Cheung, Florida State University
WEIDONG QU, Renmin University of China
Empirical Analysis of Operating Expense Ratio in the Income Approach
YING-FOON CHOW, Chinese University of Hong Kong
Charles Leung, Chinese University of Hong Kong
Wai Ling Law, Chinese University of Hong Kong
Do Company Investors Outperform Individual Investors? The Case of Hong Kong Property Market
CALLUM SCOTT, University of Melbourne
Rayna Brown
Gregory Schwann
Personal Residential Real Estate Investment in Australia: Investment Parameters and Investor
Characteristics
PATRICK WILSON, University of Technology, Sydney
Chee Cheong, Flinders University
Richard Gerlach, University of Sydney
Simon Stevenson, City University
Ralf Zurgruegg, University of Adelaide
Permanent and Transitory Drivers of Securitized Real Estate
8:00-9:45
GARIBALDI
Session 24:
REITs and DECISION TIMING
Chair: James Shilling, University of Wisconsin
JOSEPH OOI, National University of Singapore
Luke Li, CapitaLand Limited
The Influence of Market-timing Behavior on Financing Decisions of REITs
CHIULING LU, Yuan Ze University
Lan-Chih Ho, Central Bank of China
Sheng-Ching Wu, Yuan Ze University
Value at Risk and Real Estate Investment Trust
WEI-JU TSAO, University of Meikai
Shunichi Maekawa, Meikai University
Chin-Oh Chang, Chengchi University
The Performance of J-REITs around Real Property Acquisitions Announcements
Discussants: DAVID DOWNS, Virginia Commonwealth University
16
Sunday, July 2, 8:00-9:45
8:00-9:45
BOARDROOM
Session 25:
INTERNATIONAL HOUSING AFFORDABILITY
Chair: Shannon Sorzano, US Department of Housing and Urban Development
JIAN CHEN, Fannie Mae Foundation
Zhong Yi Tong, Fannie Mae Foundation
Housing Affordability in the United States: Why Is It Gloomier Than We Thought?
HENRY POLLAKOWSKI, Massachusetts Institute of Technology
Lynn Fisher, Massachusetts Institute of Technology
Jeffrey Zabel, Tufts University
Amenity-Based Housing Affordability Indexes
SIQI ZHENG, Harvard University
Wenzhong Zhang, Chinese Academy of Science
Richard Peiser, Harvard University
Rongrong Ren, Tsinghua University
Jobs-Housing Balance and Housing Affordability in a Polycentric City: A Case of Beijing
Discussants: KERRY VANDELL, University of Wisconsin
KYUNG HWAN KIM, Sogang University
VICKEY CHIU-CHIN LIN, National ChengChi University
8:00-9:45
TWEEDSMUIR
Session 26:
NON-RESIDENTIAL REAL ESTATE
Chair: Tien Foo Sing, National University of Singapore
LAWRENCE CHIN, National University of Singapore
Information Communication Technology and its Impact on the Office Market: Case of Singapore
KAREN LAHEY University of Akron
Doseong Kim, University of Akron
What Happens to the Industrial Property Market When Industry Leaves?
Discussants: PIYUSH TIWARI, University of Aberdeen
CHIEN-WEN PENG, National Taipei University
SHI-MING YU, National University of Singapore
17
Sunday, July 2, 8:00-12:00
8:00-9:45
GALIANO ISLAND
Session 27:
INSTITUTIONAL REAL ESTATE
Chair: Robert Edelstein, University of California at Berkeley
CALVIN TSOYU LIN, National Taichung Institute of Technology
Chia-Feng Hsiao, YuSan Bank, Taiwan
Jui-Chang Cheng, National Taichung Institute of Technology
A Study on the Relationship between Corporate Governance and Value of the Real Estate Industries
CLIVE WARREN, University of Queensland
Strategic Asset Management and the Evaluation of Office Workplace Utility
Discussants: DANNY BEN-SHAHAR, Technion - Israel Institute of Technology
SAU KIM LUM, National University of Singapore
ANDREY PAVLOV, Simon Fraser University
10:15 - 12:00 GARIBALDI
Session 28:
VALUING MORTGAGE CHARACTERISTICS
Chair: Nancy Wallace, University of California
MARK DOMS, Federal Reserve Bank of San Francisco
John Krainer, Federal Reserve Bank of San Francisco
Valuing Innovation in Mortgage Markets
CHE-CHUN LIN, National Tsinghua University
Mortgage Choice and Payment Shock: Balancing Affordability and Mortgage Product Risk
Winston Koh, Singapore Management University
Roberto Mariano,Singapore Management University
Sock Yong Phang, Singapore Management University
Augustine Tan, Singapore Management University
Susan Wachter, University of Pennsylvania
Underpriced Default Spread Exacerbates Market Crashes
Discussants: BRENT AMBROSE, University of Kentucky
ANDREA HEUSON, University of Miami
BOB EDELSTEIN, University of California, Berkeley
18
Sunday, July 2, 10:15-12:00
10:15-12:00
BOARDROOM
Session 29:
LOW INCOME HOUSING
Chair: Henry Pollakowski, Massachusetts Institute of Technology
EDGAR OLSEN, University of Virginia
Promoting Homeownership Among Low-income Households
JIN-YOO KIM, Korea National Housing Corporation
Kang-Yeol Na, Hanyang University
Chang-Moo Lee, Hanyang University
The Differential Impacts of Public Rental Housing on Nearby Property Values: The case of Seoul
Metropolitan Area
Discussants: TBA
10:15-12:00
CORTES ISLAND
Session 30:
HOUSING PRICES #4
Chair: Thomas G. Thibodeau, University of Colorado at Boulder
ARNAUD SIMON, Paris Dauphine University
Is There a Functional Relation Between the Repeat-Sales Index and the Median Index ?
SHI-MING YU, National University of Singapore
Xixia He, National University of Singapore
Market Influence on House Price Determinants: A Comparative Analysis of Beijing and Singapore
MARSHA COURCHANE, ERS Group
Peter Zorn, Freddie Mac
What is Price Perception?
Discussants: CHRIS REDFEARN, University of Southern California
CHRIS CUNNINGHAM, Federal Reserve Board of Atlanta
CAROLYN DEHRING, University of Georgia
19
Sunday, July 2, 10:15-15:15
13:30-15:15
CORTES ISLAND
Session 33:
MORTGAGE SECURITIZATION
Chair: Jim Kau, University of Georgia
YONGHENG DENG, University of Southern California
John Quigley, University of California at Berkeley
Anthony Sanders, Ohio State University
Commercial Mortgage-backed Securities (CMBS) Terminations and Regional Risk
NANCY WALLACE, University of California at Berkeley
Chris Downing, Rice University
The Determinants of Security Design in the CMBS Market
ANDREA HEUSON, University of Miami
Do Yields on Government Sponsored Enterprise (GSE) Issues Include Risk Premia?
Discussants: DONALD KEENAN,
YILDIRAY YILDIRIM, Syracuse University
ROBERT EDELSTEIN, University of California at Berkeley
13:30-15:15
BOARDROOM
Session 34:
HOUSING SUPPLY #1
Chair: Christian Redfearn, University of Southern California
The Public and Private Effects of Scale in Residential Real Estate Development
CAROYLN DEHRING, University of Georgia
Martin Halek, University of Georgia
Do Coastal Building Codes Work? An Analysis of Residential Property Damage from Hurricane
Charley
PARTICK LAM, The Hong Kong Polytechnic University
Brian Shea, American International Assurance Co. Ltd.
The Use of Bond Financing by Property Developers: A Case Study Approach
Discussants: Kerry Vandell, University of Wisconsin
Ed Coulson, Pennslyvania State University
Jim Shilling, University of Wisconsin
21
Sunday, July 2, 13:30-15:15
13:30-15:15
GARIBALDI
Session 35:
HOUSING VOLATILITY
Chair: Stephen Pyhrr, Kennedy Wilson
KYUNG-HWAN KIM, Sogang University
Hoon Cho, University of Wisconsin
James Shilling, University of Wisconsin
Are House Prices and Trading Volume Related? Evidence from the Seoul Housing Market
SIU KEI WONG, The University of Hong Kong
C.Y. Yiu, City University of Hong Kong
An Analysis of Volatility Spillovers between Real Estate Spot and Pre-sales Markets
DANNY BEN-SHAHAR, Technion - Israel Institute of Technology
Yoram Margalioth, Tel Aviv University
Eyal Sulganik, The Interdisciplinary Center Herzliya
An Axiomatic Approach to Depreciation
Discussants: LU HAN, University of Toronto
ROSE NENG LAI, University of Macau
13:30-15:15
GALIANO ISLAND
Session 36:
HOUSING AND SUSTAINABILITY
Chair: Chin-Oh Chang, National Chengchi University
BOR-MING HSIEH, Chang Jung Christian University
Shu Zhange Lin, Chang Jung Christian University
The Residents' Housing Satisfaction in the Public Housing Sector: A Case Study of Kaohsiung City,
Taiwan
SEONG-KYU HA, Chung-Ang University
Social Housing Estates and Sustainable Community Development in Korea
HSING-PING KUO, Southern Taiwan University of Technology
Kang-Li Wu, National Cheng-Kung University
A Study of the Key Factors Influencing Public-Private Partnerships for the Revitalization and Reuse
of Historical Buildings
22
Sunday, July 2, 13:30-17:30
13:30-15:15
TWEEDSMUIR
Session 37:
HOUSING MARKETS
Chair: Brent Smith, Virginia Commonwealth University
SUN-TIEN WU, Chinese University of Technology
Shyang-Hua Wu, Ching-yun University of Technology
The Housing Market Disequilibrium Dynamics: The Case of Taipei
SZU-YIN KATHY HUNG, California State University, East Bay
Charles Tu, University of San Diego
The Determinants of Metropolitan House Prices in California and the Impact of Aggressive Mortgage
Products
HAI-FENG HU, Wenzao Ursuline College of Languages
Tzu-Chia Chang, Chang Jung Christian University
The Endogenous Fluctuations of Real Estate Prices in a Small Open Economy
YU-HSIN TSAI, Feng-Chia University
Yen-Ling Lai, Feng-Chia University
Mismatch Between Preferred and Actual Mixed-Use Neighborhood Types: Evidence from an
Extremely Mixed-Use City - Taipei
15:45-17:30
TWEEDSMUIR
Session 38:
MORTGAGES
Chair: Andrea Heuson, University of Miami
DAVID LEECE, Manchester Metropolitan University
The Demand for Flexible Mortgage Instruments
NELA RICHARDSON, Freddie Mac
Douglas McManus
Multi-Sided Platforms: An Application to Secondary Mortgage Markets
YONGHENG DENG, University of Southern California
Seungryul Ma, University of Southern California
Insurance Premium Structure of Reverse Mortgage Loans in Korea
Discussants: WAYNE ARCHER, University of Florida
TYLER YANG, IFE Group
DAVID DOWNS, Virginia Commonwealth University
23
Sunday, July 2, 15:45-17:30
15:45-17:30
GARIBALDI
Session 39:
HOUSING SUPPLY #2
Chair: Edward Coulson, Pennsylvania State University
YUMING FU, National University of Singapore
Siqi Zheng, Tsinghua University
Hongyu Liu, Tsinghua University
Jing Wu, Tsinghua University
Urban Growth and Housing Supply in Urban China
BRENT AMBROSE, University of Kentucky
Joe Peek, University of Kentucky
Credit Availability and the Supply of Residential Structures: Effect of Supply Constraints on
Homeownership
JOHN CLAPP, University of Connecticut
John Harding, University of Connecticut
Buy to Scrape? Implicit Market Prices with Redevelopment
Discussants: SHIHE FU, Southwestern University of Finance and Economics
MARSHA COURCHANE, ERS Group
HELEN BAO, City University of Hong Kong
15:45-17:30
BOARDROOM
Session 40:
REIT RETURNS
Chair: Jim Clayton, University of Cincinnati
SIMON STEVENSON, City University
Don Bredin, University College Dublin
Gerard O'Reilly, Central Bank and Financial Services Authority of Ireland
An Analysis of the Sensitivity of REITs to US Monetary Shocks
SEOW ENG ONG, National University of Singapore
Andrew Spieler, Hofstra University
Erik DeVos, Ohio University
Analyst Activity and Firm Value: Evidence from the REIT Sector
SHIAWEE YANG, Northeastern University
Jiangliang Li, Northeastern University
Robert Moordian, Northeastern University
Conditional Expectation and the Variability of Equity REIT Returns
Discussants: LIANG PENG, University of Colorado
JIM CLAYTON, University of Cincinnati
PATRICK WILSON, University of Technology, Sydney
24
Sunday, July 2, 15:45-17:30
15:45-17:30
CORTES ISLAND
Session 41:
URBAN
Chair: Ryohei Nakamura, Okayama University
TAE UG RHO, Kangnam University
Chang Deok Kang, University of California at Berkeley
The Impacts of Freeway Destruction and Urban Renewal on Urban Land Prices
CHANG-CHUN FENG, Peking University
De Tong, Peking University
De-Yun Liu, Peking University
Research on Renewal Occaision of Urban Villages: A Case Study of Futian District of Shenzhen,
China
15:45-17:30
GALIANO ISLAND
Session 42:
HOUSING LIFE CYCLE
Chair: Thomas Boehm, University of Tennessee
Housing Wealth Accumulation as a Hedge against Changes in Rental Prices and Health Care Costs
JONATHAN FISHER, U.S. Bureau of Labor Statistics
David Johnson, Census Bureau
Joseph Marchand, Syracuse University
Timothy Smeeding, Syracuse University
Barbara Boyle Torrey, Population Reference Bureau
No Place Like Home: Older Adults, Housing, and the Life-Cycle
RICHARD GREEN, The George Washington University
Christian Redfearn, University of Southern California
Stuart Gabriel, University of Southern California
Metropolitan House Prices and Fundamentals
Discussants: TBA
25
Monday, July 3, 9:00-10:45
9:00-10:45
TWEEDSMUIR
Session 45:
HOUSING and MOBILITY
Chair: Paul Anglin, University of Guelph
KAZUTO SUMITA, Kanazawa Seiryo University
Miki Seko, Keio University
Barriers to Residential Mobility in Japan: Negative Housing Equity and Rental Act
MICHAEL WHITE, University of Aberdeen
Mark Andrew, University of Reading
Transaction Costs and Tenure Choice Decisions
RUI YAO, Baruch College - CUNY
Harold Zhang, University of Dallas at Texas
Optimal Life-Cycle Asset Allocation with Housing as Collateral
Discussants: SIQI ZHENG, Harvard University
9:00-10:45
GALIANO ISLAND
Session 46:
URBAN DEVELOPMENT
Chair: Yuming Fu, National University of Singapore
DAVID KIM HIN HO, National University of Singapore
Gang-Zhi Fan, National University of Singapore
A Dynamic Perspective on Land Use Optimization
SHIHE FU, Southwestern University of Finance and Economics
Zhihong Chen, University of International Business and Economics, Beijing
Dynamics of City Growth: Random or Deterministic? Evidence From China
JIANFENG WU, National University of Singapore
Regional Specialization and Regional Development in China's Economic Transition
27
MAP AND DIRECTIONS TO IMPERIAL CHINESE SEAFOOD
RESTAURANT
IMPERIAL CHINESE
SEAFOOD RESTAURANT
Walking Directions:
y Walk WEST on West
Georgia towards Burrard St
y Turn RIGHT onto Burrard St
y Follow Burrard St. until
reaching the Marine
Building
TRAVEL TIME:
y
2-5 mins by driving, depending
on traffic
y
7-10 mins by walking
FAIRMONT HOTEL
EVENT:
Welcome Banquet
LOCATION:
Imperial Chinese Seafood Restaurant
Main Floor, Marine Building
355 Burrard Street
Vancouver, B.C.
V6C 2G8
Telephone: (604) 688-8191
DATE:
Saturday, July 1, 2006
TIME:
6:00pm (Seating)
Marine Building
6:30pm (Dinner)
29
MAP AND DIRECTIONS TO MAGIC YACHT CHARTERS
MAGIC YACHT CHARTERS
Walking Directions:
y Walk WEST on West
Georgia for 6 blocks
y Turn RIGHT onto Cardero St
y Turn LEFT onto Bayshore
Dr. (West of Bayshore
Hotel)
y Turn RIGHT onto the small
lane “Menchions Mews”
y Follow Menchions Mews
until reaching the
waterfront
TRAVEL TIME:
y
3-6 mins by driving, depending
on traffic
y
FAIRMONT HOTEL
EVENT:
LOCATION:
Dinner Boat Cruise
Magic Yacht Charters
1601 Bayshore Drive
Vancouver, BC Canada
V6G 2V4
Toll Free: 1-866-888-0288
DATE:
BOARDING:
CRUISE:
Sunday, July 2, 2006
6:30pm
7:00pm – 10:00pm
30
MAP AND DIRECTIONS TO BARD ON THE BEACH
BARD ON THE BEACH
Directions:
y Travel NORTHWEST along
West Georgia
FAIRMONT HOTEL
VANCOUVER
y Turn RIGHT at Burrard
y Continue over Burrard
Street Bridge
y Right Hand Lane runs into
Cornwall Ave.
y Take first RIGHT after
bridge on to Chestnut
y If you miss Chestnut, turn
RIGHT at Cypress
y Turn RIGHT on to Whyte
Avenue
Travel time:
y
6 -10 mins by driving,
depending on traffic
y
EVENT:
LOCATION:
A Midsummer Night's Dream
Bard on the Beach
Vanier Park, Kits Point at the Foot of Whyte Avenue
Address for Taxis:
1695 Whyte Avenue, Vanier Park
Administration: 604-737-0625
Box office: 604-739-0559
DATE:
Sunday, July 2, 2006
TIMES:
5:45 pm
Pick up from the Fairmont Hotel Vancouver to Bard on the Beach
6:20 pm
7:00pm
9:45pm
Seating for Play
Play Begins
Pick up from Bard on the Beach back to the Fairmont Hotel
31
Restaurant List
$............................$20 and under
$$...........................$20 - $50
$$$..........................$50 and over
DOWNTOWN (Including Coal Harbour, West End, and Yaletown)
CHINESE
Hon’s Wun-Tun House: Large selection of Chinese cafeteria style dishes
including wonton, noodles, pot stickers, and a vegetarian kitchen.
Address:
Phone:
Price:
1339 Robson Street, Vancouver
604-685-0871
$
JAPANESE
Bluewater Café and Raw Bar: Coastal shellfish dishes, sushi and sashimi as
well as an impressive selection of oysters. City’s best sake selection.
Address:
Phone:
Website:
Price:
1095 Hamilton Street, Vancouver
604-688-8078
www.bluewatercafe.net/bluewater
$$$
Hapa Izakaya: Contemporary Japanese bistro, young and hip with a wide
selection of Japanese tapas. Reservations are recommended
Address:
Phone:
Website:
Price:
1479 Robson Street, Vancouver
604-689-4272
www.hapaizakaya.com
$$
Shiru-Bay: Also referred to as “Chopstick Café”. Delicious Japanese pub-style
food with a hint of western flair.
Address:
Phone:
Website:
Price:
1193 Hamilton Street, Vancouver
604-408-9315
www.shiru-bay.com
$$
32
SEAFOOD
C Restaurant: Multi-time winner of Vancouver Magazine’s Critics’ Choice Best
Seafood award. Waterfront location with views over False Creek and Granville
Island.
Address:
Phone:
Website:
Price:
2-1600 Howe Street, Vancouver
604-681-1164
www.crestaurant.com
$$$
WATERFRONT
Lift Bar Grill View: West Coast Canadian Cuisine, way cool bar. Located in
Coastal Harbor, spectacular mountain views.
Address:
Phone:
Website:
Price:
333 Menchion Mews, Vancouver
604-689-5438
www.liftbarandgrill.com
$$$
WESTERN
Amarcord: Authentic Italian cuisine, elegantly presented.
Address:
Phone:
Website:
Price:
104 - 1168 Hamilton Street, Vancouver
604-681-6500
www.amarcord.ca
$$
Bacchus: Elegant, high quality food, low-key atmosphere. Located in
Wedgewood Hotel.
Address:
Phone:
Website:
Price:
845 Hornby Street, Vancouver
604-689-7777
www.wedgewoodhotel.com/hotel/bacchus.html
$$$
Bin 941 Tapas Parlour. Very popular tapas spot, open until 2AM.
Address:
Phone:
Website:
Price:
941 Davie St., Vancouver
604-683-1246
www.bin941.com
$$
33
Brix: Wine bar with good food, lovely patio. Open until 1 AM
Address:
Website:
Phone:
Price:
1138 Homer St.
www.brixvancouver.com
604-915-9463
$$
Chambar: Contemporary Belgium cuisine in a fun and trendy atmosphere. Great
moules et frite.
Address:
Phone:
Website:
Price:
562 Beatty Street, Vancouver
604-879-7119
www.chambar.com
$$
Diva at the Met: Voted best hotel restaurant in Vancouver. Menu features highend food, beautifully presented.
Address:
Phone:
Website:
Price:
645 Howe Street, Vancouver
604-687-1122
www.metropolitan.com/diva
$$$
Incendio: Nice Italian restaurant for a casual meal with friends. Great pizza and
pasta.
Address:
Phone:
Website:
Price:
103 Columbia Street, Vancouver
604-688-8694
www.incendio.ca
$$
Raincity Grill: Cozy atmosphere with views of English Bay. Menu is based on
local ingredients and produce. Excellent brunches.
Address:
Phone:
Website:
Price:
1193 Denman Street, Vancouver
604-685-7337
www.raincitygrill.com
$$$
34
REST OF VANCOUVER (Outside Downtown)
CHINESE
Bo-Kong Vegetarian Restaurant: Buddhist restaurant with a wide selection of
tofu and gluten based vegetarian dishes.
Address:
Phone:
Price:
3068 Main Street, Vancouver
604-876-3088
$$
Sun Sui Wah Seafood Restaurant: Cantonese restaurant offering dim sum in
the morning and fresh seafood dishes at night.
Address:
Phone:
Website:
Price:
604-872-8822
www.sunsuiwah.com
$$
JAPANESE
Kibune Sushi: Great location for a summer walks along the shore before or after
dinner. Restaurant features a traditional menu and typical Japanese layout.
Address:
Phone:
Website:
Price:
1508 Yew Street, Vancouver
604-731-4482
www.kibune.ca
$$
Shiro: Authentic “neighbourhood” sushi, Japanese owned restaurant.
Address:
Phone:
Price:
3096 Cambie Street, Vancouver
604-874-0027
$$
Tojo's: Vancouver’s most famous Japanese restaurant.
Address:
Phone:
Website:
Price:
202-777 West Broadway, Vancouver
604-872-8050
www.tojos.com
$$$
35
Yuji’s Japanese Tapas: Impressive variety of Japanese tapas.
Address:
Phone:
Price:
2059 West 4th Ave., Vancouver
604-734-4990
$$$
Zest: Contemporary Japanese cuisine. Creative sushi served in a pleasant
atmosphere. Good service.
Address:
Phone:
Price:
2775 West 16th Avenue, Vancouver
604 731-9378
$$
WESTERN
Aurora Bistro: Modern Canadian Cuisine featuring fresh West Coast
ingredients.
Address:
Phone:
Website:
Price:
2420 Main, Vancouver
604-873-9944
www.aurorabistro.ca
$$
Bishop’s Restaurant: Features weekly rotation of menus based on organic local
ingredients and produce. Clean simple elegance.
Address:
Phone:
Price:
604-738-2025
$$$
Cru: Wine bar style restaurant. Good quality tapas. $35 Prix Fix menu
available. Winner of the Annual Vancouver Magazine Restaurant Awards 2004.
Address:
Phone:
Website:
Price:
1459 W Broadway, Vancouver
609-677-4111
www.cru.ca
$$$
Feenie’s: Reasonably priced, high-quality Canadian bistro cuisine. Owned by
Lumiere’s Robert Feenie.
Address:
Phone:
Website:
Price:
2563 W Broadway, Vancouver
604-739-7115
www.feenies.com
$$
36
Lumiere: Award winner. French Cuisine infused with a touch of North American
tastes and traces of Asian influences. Vancouver’s Iron Chef winning Robert
Feenie. Reservations required.
Address:
Phone:
Website:
Price:
2551 West Broadway, Vancouver
604-739-8185
www.lumiere.ca
$$$
Slickety Jim's Chat N' Chew: Funky and cozy café with tasty breakfast and
lunch selections.
Address:
Phone:
Price:
604-873-6769
$
West Restaurant and Bar: Consistently one of Vancouver’s top 3 restaurants.
Address:
Phone:
Website:
Price:
2881 Granville Street, Vancouver
604-738-8938
www.westrestaurant.com/westrestaurant
$$$
OTHER
Vij’s: One of North America’s most acclaimed Indian-inspired fusion restaurants.
Reservations are not accepted, so be prepared to wait.
Address:
Phone:
Price:
604-736-6664
$$
WATERFRONT
Go Fish: Fish and chips shack with delicious grilled fish sandwiches. Located at
Fisherman’s dock near Granville Island. Restaurant is closed Mondays and
Tuesdays.
Address:
Phone:
Price:
1504 West 1st Ave., Vancouver
604-730-5040
$
37
Ocean 6 Seventeen: West Coast Fusion Cuisine. Nice atmosphere with scenic
views of Granville Island.
Address:
Phone:
Price:
617 Stamps Landing, Vancouver
604-879-6178
$$
Monk McQueens: Fresh Seafood and Oyster Bar. Live jazz and dancing.
Scenic views of Granville Island.
Address:
Phone:
Website:
Price:
601 Stamps Landing Vancouver, Vancouver
604-877-1351
www.monkmcqueens.com
$$
Tsur’s Choices
Baccus, C, Go Fish, Slickity Jim’s, Vij’s, Yuji’s, Zest
Websites
Vancouver Magazine
Restaurant Awards: http://www.vanmag.com/17th/restaurant_awards.html
Top Restaurant Recommendations: http://www.vanmag.com/bites.html
Dining guide: www.dinehere.ca
Dining guide: www.foodvancouver.com
38

2006 Joint AsRES-AREUEA International Conference Brochure

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