代写REAL ESTATE ECONOMICS & MARKET ANALYSIS Fall 2020帮做Python语言程序

REAL ESTATE ECONOMICS & MARKET ANALYSIS

Fall 2020

Answer Key for delivering the answers to [email protected]:

•    1- 7- 13- 20-

•    2- 8- 14- 21-

•    3- 9- 15- 22-

•    4- 10- 16-

•    5- 11- 17-

•    6- 12- 18- 19-

1)  Using the attached GDP Table from the Bureau of Economic Analysis (located at the end of this document), select the answer that most closely matches the percentage of  total private domestic investment generated by real estate as of 3rdQ2017:

a) 6.1% c) 7.2%

b) 6.7% d) 7.7%

2)  What is the Federal Reserve’s “Dual Mandate”?

a) Federal Interest Rates and LIBOR

b) Employment and Price Stability.

c) Inflation and Stagflation

3)  Define Fiscal Policy:

a) Taxing and Spending Activities of Government.

b) Management of Gold Pricing Levels.

c) Taxing & Infrastructure.

4) Explain why real estate is a key instrument for the transmission of monetary policy.

a) Due to the complexity and size of the Real Estate Market, it affects and

is affected by the larger economy.

b) Due to the complexity of the real estate market, it is difficult to understand how it is affected positively or negatively by the larger economy.

c) Real estate effects monetary policy in regards to depreciation and cap rates.

5) Which best identifies the economic purpose of the Property Market and the

Asset Market:

a)   Users cannot affect the supply chain since there is a long window to the

development of new structures.

b) Supply and Demand curves never meet due to the pressure of cap rates which pulls them apart from each other.

c) There is a strong correlation in how properties are priced to end users, how they are valued by owners, and how investors decide to create new supply.

6) Identify the one item that is NOT a primary determinant of capitalization rates.

a) Long-term Interest Rates,      c) Multiplier Effect,,

b) Rent                                  d) Risk.

7) Many expect interest rates to rise again this year and next year. Which answer best explains the impact on market values, rents, and construction?

a) Higher rates generally mean higher cap rates. Higher cap rates generally mean lower market values and lower construction levels.  Lower net additions to supply generally mean higher rents.

b) Increased borrowing rates puts pressure to lowers cap rates. Values go up, thereby stimulating the construction industry.

c) Increased monetary rates makes recapitalizing construction more profitable to both banks and property owners.

8) Which best defines Agglomeration Economies?

a) Positive external economies of scale argue for spatial concentration by reducing unit business costs and increasing productivity.

b) Individuals choose to agglomerate for societal reasons, and are not motivated by personal interests.

c) Economies of scale pull people together like “gravity”, as people are drawn to agglomerate due to embedded transportation and dense housing patterns.

9) Identify one characteristic that is NOT indicative of a prospering city. a) Density,

b) Propensity to invest in Externalities,

c) Diversity,

d) Education.

10) Highest & Best Use is defined as the legal and reasonable use that:

a) Tallest use which is selected as best by the immediate neighboring properties.

b) Produces the greatest value to its owners.

c) Maximizes height factors to insure clear views to the outer boroughs.

11) Which best defines Externality?

a) The net balance between imports and exports.

b) The Asset Market puts external pressures on the Property Market due to unemployment levels.

c) An impact or spillover (positive or negative) on an action, policy or market.

12) We discussed the principal that “Cities are value propositions, not cost propositions.” Which of the sentences below do NOT follow from this:

a) Public officials need to account for increased agglomeration, and pay attention to the demands on public transportation.

b) Investments in infrastructure reduce capital available for long-term planning.

c)   Though location rents are higher in cities, higher rents are possible because of the great value proposition cities offer.

13)  We want to compare the overall multiplier of two neighboring cities: -- “Fredsville”, a highly industrialized & financial economy, and

-- “Luis-Berg”, an economy that has experienced recent contraction,

whose tax base is increasing to make up for the city’s budget shortfalls.

Calculate the multiplier for each city’s economy, then select the statement below the chart that is most true.

Fredsville          LuisBerg

Propensity to Save:                                     5%                   8%

Propensity to Tax:                                       5%                   7%

Balance of Imports over Exports:               5%                   4%

a)  Fredsville’s multiplier is 6+, and LuisBerg’s multiplier is 5+, indicating that the dollar in Fredsville goes farther in expanding the local economy,

b)  LuisBerg’s multiplier is lower, indicating it costs less to borrow funds from its local financial institutions,

c)   The cost of education in Fredsville is cheaper due to a more efficient economic base for public and private services.

Here are the answers for Q14-Q18. Place the correct answer after the definition:

a) The share of demand growth required from the primary and secondary markets required to reach full occupancy, generally targeted at 95%.

b) Net Change in occupied space in market area over a defined period.

c) New product segment in market area.

d) Existing occupancy at existing properties

e) Demand that must use capacity outside market

14) Define capture rate.

15) Define demonstrated demand. .

16) Define unmet demand. .

17) Define unaccommodated demand. .

18) Define net absorption. . .

19) Why is Net Absorption expectations a key part of any market analysis?

a) Measures real underlying strength of the market.

b) Measures the loss factor necessary for calculating Net Square Footages.

c) Measures Net Operating Income from expected Gross Revenues.

GDP Table 2017-2018

20) Regarding Robert Moses’s works for the development of NYC, select the one item that is most true:

a) Robert Moses’s legacy and record should go down as one of America’s

greatest developers/planners/heroes and should be seen as a model for the future of planning great cities and NYC.

b) Robert Moses understood the importance of the automobile as a key

component of the future of city growth, and he allowed NYC to become a beacon to the rest of the world in how its inhabitants should move and travel through its infrastructure. Without his works, NYC would remain a backwards urban environment, and limit its greatness on the world’s economic stage.

c) To assess any individual, one must look objectively at their accomplishments.

Robert Moses achieved greatness through his contributions to NYC, but controversies persist as to some of his projects and plans.

21) Jane Jacobs has had a lasting impact on how people see the future for cities,

including: the development of cities, urban planning, local development, and the need to respect historical legacies. Select the one item that is most true about her legacy:

a) Jane never built anything, and her views should be taken with a grain of salt, for this reason.

b) Due to her belief in supporting randomness in city growth, the ability to economically plan for future growth is sporadic, difficult and often vague, in terms of setting city budgets. She was partially to blame for NYC declaring bankruptcy in the Fall of 1975.

c) As a social engineer and urban planner, her architectural degree from Pratt University made her uniquely qualified to assess structures and infrastructures. Her educational background is why communities reached out to her to plan their own NIMBY attacks on large scale development.

d) As an urbanist and activist whose writings championed afresh, community-based approach to city building, she helped derail the car-centered approach to urban planning, and invigorated neighborhood activism by helping to stop the expansion of expressways and roads through urban environments.

22) The buildings we live and work in are one of the largest suppliers to greenhouse gas   emissions. NYC’s Climate Mobilization Act of 2019 was passed with a goal to ensure that the city’s building infrastructure (new and old) begin the process of decarbonizing its footprint. Select the one item that is UNTRUE:

a)   Local Laws 96 & 97 are designed to ensure that old buildings are retrofitted to achieve a baseline of energy efficiency.

b)  Passive House construction achieves tremendous efficiencies through a multi- pronged approach to better construction.

c)  Local Laws have been passed to encourage all large buildings to either use green roof installations or solar panels to help lower greenhouse gas emissions.

d)  Despite the laws coming into place in the future, owners can ignore the

requirements to find efficient ways to lower their property energy demands, as these penalties will not be incurred until a later point in time. Additionally, accruing large penalties for properties that are not efficient can be passed on to future property owners.