The impact of RTC dispositions on local housing and real estate markets

Abstract

This article examines the critical question of whether disposition activity of the Resolution Trust Corporation (RTC) will disrupt local real estate markets by driving values down and encouraging additional defaults. The question is approached by identifying key characteristics of local economies and real estate markets that could be associated with adverse market responses and then examining 12 individual metropolitan areas in this context. A survey of metropolitan areas with high RTC concentrations finds varying potential for adverse impact. Detailed case studies in three metropolitan areas—Dallas, Denver, and Oklahoma City—find the potential to vary widely by property type, quality level, and geographic location. By and large, commercial markets are expected to be less affected because of (1) the already depressed condition of most markets, (2) market segmentation that would insulate investment grade submarkets, (3) capitalization of expectations about disposition, and (4) political constraints on the rate of RTC activity. However, the geographic concentration of inventory that is combined with potential tipping dynamics associated with neighborhood change could render certain affordable housing markets vulnerable to adverse market responses. Policy recommendations to mitigate such impacts are suggested.     

Foreclosure filings and sheriff's sales experienced by low‐income first‐time home buyers

Abstract

This paper examines the recent history of supply‐side subsidies. The first section describes the programs that have had a major impact on the supply of low‐income housing over the last 20 years. The second section looks in some detail at the recent history of tax subsidies to low‐income housing and attempts to quantify their magnitudes. The third section presents some data on recent syndication deals to shed light on the return rate that seems to have been required in recent years to attract private investors into low‐income housing. The final section turns to the literature on rent‐seeking behavior and proposes a more efficient way to subsidize low‐income housing production.     

DISCERNING UNFAIRNESS WHERE OTHERS MAY NOT: LOW SELF-CONTROL AND UNFAIR SANCTION PERCEPTIONS

Criminologists have long recognized that whether one perceives a sanction as fair or unfair influences the deterrent success of sanctions and the legitimacy afforded to legal authority. Unfortunately, although several scholars have claimed that individual characteristics influence how sanctions are interpreted, very little research has explored the individual factors that influence how one perceives sanctions to be fair/unfair. In this study, we take Gottfredson and Hirschi's notion of self-control and use it to explain, in part, whether an individual perceives a sanction as fair/unfair. We also examine how sanction perceptions and low self-control influence the perceived anger that may result from being singled out for sanctioning and whether self-control conditions the relationship between perceptions and anger. Our results suggest that individuals with low self-control are more likely to perceive sanctions as unfair, that unfair sanctions and low self-control lead to perceived anger for being singled out for punishment and that self-control conditions the effect of unfair sanction perceptions on perceived anger. Future directions are outlined.     

Self-Control and Social Bonds: A Combined Control Perspective on Juvenile Offending

With longitudinal data from a sample of 359 adolescent offenders, we tested three measures of social bonding (conventional moral belief, attachment, and commitment/involvement) and deviant peer association as outcomes of low self-control and as mediators of the effect of low self-control on juvenile offending. Low self-control was negatively related to each bonding measure, positively related to deviant peer association, and positively related to offending at follow-up. Its effect on offending was fully mediated by conventional moral belief and attachment. These results provide modest support for a combination of self-control and social bonding perspectives on juvenile offending.     

试论我国证券监管体制的变革

证券监管是证券市场发展的重要保障,是其良性发展的基础。证券监管越有力,越到位则证券市场的风险越小。我国的证券监管体制存在着很多问题,其中最主要的问题是证券监管机构定位不明确,政府和市场不分。这就要借鉴外国的成功经验,完善公司结构和监管体制,减轻监管风险。我国《证券法》和《公司法》的修订就是努力解决这一问题,健全证券交易规则,加强证券市场的自治能力,理顺两者关系,进行证券监管风险的转移。     

Preliminary trials of low volume AmpFlSTR Profiler Plus amplification using AmpliGrid (AG480F) slides

Low volume PCR using the AmpliGrid (480F) slide system can potentially enhance the generation of more complete profiles from trace samples, in addition to providing a more cost-effective alternative for typing standard samples. Based on our preliminary results, implementation will require a reasonable investment in optimisation and validation for the intended purpose.     

国际公约对我国海洋环境保护法的影响

自我国《海洋环境保护法》实施以来 ,我国相继加入了一些国际公约和议定书 ,我国在国际海洋事务中的权利、义务发生了变化。为了与国际公约相衔接 ,以履行我们的国际承诺 ,保护我国在国际海洋事务中的合法权益 ,我国对该法做了修改。本文旨在从我国参加的国际公约对修订法的影响这个角度 ,来分析修订法中的相关内容     

后京都时代我国清洁发展机制的现状及对策研究

＂后京都时代＂我国CDM市场可谓机遇与挑战并存。主要存在项目类型分布不合理、最终签发成功率低、融资渠道单一、缺乏科学合理的碳贸易体系等问题,因此政府相关部门应推出鼓励政策引导CDM项目协调发展;培育咨询机构、提高项目申报通过率;加快我国＂碳金融＂建设与改革,为CDM项目提供更多融资渠道选择;构建科学合理的碳贸易体系,以促进我国节能减排工作和CDM市场科学、健康、持续发展。     

浅谈公安院校学生自控能力的培养

提高公安院校学生的自控力有助于提高公安院校学生严守纪律、防腐拒变能力;有助于提高学生自身修养,培养开拓创新意识;有助于促使学生参与警务化管理,养成令行禁止的习惯。为提高学生的自控能力,公安院校要在严格的警务化管理中,有意识地培养学生较高的思想觉悟;设定适宜的目标期待,激励养成良好习惯;督促专业知识学习,提高文化素养;训练情绪管理,提升心理素质;强化实践锻炼,培养＂慎独＂精神。