Housing Mutual Equity Shares (HOMES) : a residential appreciation investment vehicle
Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2000. === Includes bibliographical references (leaves 144-147). === This thesis attempts to answer, "how can investment in the equity appreciation of owner occupied real estate occur on a market-wide basi...
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ndltd-MIT-oai-dspace.mit.edu-1721.1-645512019-05-02T16:35:43Z Housing Mutual Equity Shares (HOMES) : a residential appreciation investment vehicle HOMES Blank, Jason (Jason Marshall), 1971- Tod McGrath. Massachusetts Institute of Technology. Dept. of Urban Studies and Planning. Massachusetts Institute of Technology. Dept. of Urban Studies and Planning. Urban Studies and Planning. Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2000. Includes bibliographical references (leaves 144-147). This thesis attempts to answer, "how can investment in the equity appreciation of owner occupied real estate occur on a market-wide basis?" Using financial engineering, the author introduces a new security design to overcome the hurdles and restrictions that prevent widespread capital market investment in owner-occupied residences. Named Housing Mutual Equity Shares (HOMES), this new investment vehicle resolves housing affordability issues for potential homeowners and provides attractive risk-adjusted rates of return for investors. The reader is first given an in-depth analysis of the demand for housing space and residential finance. Second the HOMES vehicle is introduced, hypothetical returns for 1975 through 1995 are calculated, and then analyzed and adjusted for risk. Third, the author explores the economic value of the HOMES vehicle, addressing concerns of homeowners, investors, lenders, and agents. Fourth, a comparative case study juxtaposes HOMES and a similar, but failed, product from the late seventies, Shared Appreciation Mortgages (SAMs). Finally, the author identifies a few questions for further research. by Jason Blank. S.M. 2011-06-20T15:49:15Z 2011-06-20T15:49:15Z 2000 2000 Thesis http://hdl.handle.net/1721.1/64551 45643013 eng M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission. http://dspace.mit.edu/handle/1721.1/7582 147 p. application/pdf Massachusetts Institute of Technology |
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Urban Studies and Planning. |
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Urban Studies and Planning. Blank, Jason (Jason Marshall), 1971- Housing Mutual Equity Shares (HOMES) : a residential appreciation investment vehicle |
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Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2000. === Includes bibliographical references (leaves 144-147). === This thesis attempts to answer, "how can investment in the equity appreciation of owner occupied real estate occur on a market-wide basis?" Using financial engineering, the author introduces a new security design to overcome the hurdles and restrictions that prevent widespread capital market investment in owner-occupied residences. Named Housing Mutual Equity Shares (HOMES), this new investment vehicle resolves housing affordability issues for potential homeowners and provides attractive risk-adjusted rates of return for investors. The reader is first given an in-depth analysis of the demand for housing space and residential finance. Second the HOMES vehicle is introduced, hypothetical returns for 1975 through 1995 are calculated, and then analyzed and adjusted for risk. Third, the author explores the economic value of the HOMES vehicle, addressing concerns of homeowners, investors, lenders, and agents. Fourth, a comparative case study juxtaposes HOMES and a similar, but failed, product from the late seventies, Shared Appreciation Mortgages (SAMs). Finally, the author identifies a few questions for further research. === by Jason Blank. === S.M. |
author2 |
Tod McGrath. |
author_facet |
Tod McGrath. Blank, Jason (Jason Marshall), 1971- |
author |
Blank, Jason (Jason Marshall), 1971- |
author_sort |
Blank, Jason (Jason Marshall), 1971- |
title |
Housing Mutual Equity Shares (HOMES) : a residential appreciation investment vehicle |
title_short |
Housing Mutual Equity Shares (HOMES) : a residential appreciation investment vehicle |
title_full |
Housing Mutual Equity Shares (HOMES) : a residential appreciation investment vehicle |
title_fullStr |
Housing Mutual Equity Shares (HOMES) : a residential appreciation investment vehicle |
title_full_unstemmed |
Housing Mutual Equity Shares (HOMES) : a residential appreciation investment vehicle |
title_sort |
housing mutual equity shares (homes) : a residential appreciation investment vehicle |
publisher |
Massachusetts Institute of Technology |
publishDate |
2011 |
url |
http://hdl.handle.net/1721.1/64551 |
work_keys_str_mv |
AT blankjasonjasonmarshall1971 housingmutualequityshareshomesaresidentialappreciationinvestmentvehicle AT blankjasonjasonmarshall1971 homes |
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