Assessing the real value in residential property investment

One of the major fall outs from the Global Financial Crisis has been the decline in residential property construction, home lending and residential property prices. This has lead to some extent to a reduction in the number of small investors willing to commit funds to an investment market that is not seen to perform as well as other investment assets, particularly in relation to income return.With a decreasing supply of rental accommodation in the housing markets, less public housing being constructed by both State and Commonwealth Governments, there is the potential for the residential property market to provide more substantial returns than previous years.This paper will analyse the current residential housing market in Brisbane, Australia to determine if there are sectors in this market that are outperforming the average income and total return for residential investment property and the variation in investment performance across the various housing sub-markets. The results show that property investment in residential property provides opportunities to maximize returns based on geographic location and socio-economic economic status, with lower value areas showing the highest income returns and higher value suburbs showing greater capital returns

Much ado about nothing? The surprising persistence of nascent ventures through the global financial crisis

Using the Global Financial Crisis as a natural experiment, we investigate how a major macro-economic crisis affects nascent (i.e., pre-operational) ventures. We hypothesize adverse effects on behaviors, behavioral plans, and expectations for the future, and that these effects would be more pronounced in ventures that are more innovative and/or more relying on loan funding. Overall, we find very limited support for our hypotheses. Our conclusion is that the main reason for the surprising absence of detrimental effects is that a large majority of nascent ventures are mostly affected by a relatively narrow, immediate task environment rather than directly by the fluctuations of the macro-economy.

Genesis and role of standards : theoretical foundations and socio-economical model for the construction and use of standards

A key issue in the economic development and performance of organizations is the existence of standards. Their definition and control are sources of power and it is important to understand their concept, as it gives standards their direction and their legitimacy, and to explore how they are represented and applied. The difficulties posed by classical micro-economics in establishing a theory of standardization that is compatible with its fundamental axiomatic are acknowledged. We propose to reconsider the problem by taking the opposite perspective in questioning its theoretical base and by reformulating assumptions about the independent and autonomous decisions taken by actors. The Theory of Conventions will offer us a theoretical framework and tools enabling us to understand the systemic dimension and dynamic structure of standards. These will be seen as a special case of conventions. This work aims to provide a sound basis and promote a better consciousness in the development of global project management standards. It aims also to emphasize that social construction is not a matter of copyright but a matter of open minds, collective cognitive process and freedom for the common wealth.

Genesis and role of standards : theoretical foundations and socio-economical model for the construction and use of standards

A key issue for the economic development and for performance of organizations is the existence of standards. As their definitions and control are source of power, it seems to be important to understand the concept and to wonder about the representations authorized by the concept which give their direction and their legitimacy. The difficulties of classical microeconomics of establishing a theory of standardisation compatible with its fundamental axiomatic are underlined. We propose to reconsider the problem by carrying out the opposite way: to question the theoretical base, by reformulating assumptions on the autonomy of the choice of the actors. The theory of conventions will offer us both a theoretical framework and tools, enabling us to understand the systemic dimension and dynamic structure of standards seen as special case of conventions. This work aims thus to provide a sound basis and promote a better consciousness in the development of global project management standards, aiming also to underline that social construction is not a matter of copyright but a matter of open minds, collective cognitive process and freedom for the common wealth.

Reviewing the impact of the 2008/2009 global financial crisis (GFC) on international property markets and property professions

The global financial crisis that impacted on all world economies throughout 2008 and 2009. This impact has not been confined to the finance industries but has had a direct and indirect impact on the property industry worldwide from both an ownership and investment perspective. Property markets have experienced various levels of impact from this event, but universally the greatest impact has been on the traditional commercial and industrial property sectors from the investor perspective, with investment and superannuation funds reporting significant declines in the reported value of these investments. Despite the very direct impact of these declining property markets, the GFC has also had a very significant indirect impact on the various property professions and how these professions are now operating in this declining property market. Of particular interest is the comparison of the property market forecasts in late 2007 to the actual results in 2008/2009.

An analysis of holding cost impact on housing affordability in relation to midsized Greenfield residential property developments in South East Queensland

The position of housing demand and supply is not consistent. The Australian situation counters the experience demonstrated in many other parts of the world in the aftermath of the Global Financial Crisis, with residential housing prices proving particularly resilient. A seemingly inexorable housing demand remains a critical issue affecting the socio-economic landscape. Underpinned by high levels of population growth fuelled by immigration, and further buoyed by sustained historically low interest rates, increasing income levels, and increased government assistance for first home buyers, this strong housing demand level ensures problems related to housing affordability continue almost unabated. A significant, but less visible factor impacting housing affordability relates to holding costs. Although only one contributor in the housing affordability matrix, the nature and extent of holding cost impact requires elucidation: for example, the computation and methodology behind the calculation of holding costs varies widely - and in some instances completely ignored. In addition, ambiguity exists in terms of the inclusion of various elements that comprise holding costs, thereby affecting the assessment of their relative contribution. Such anomalies may be explained by considering that assessment is conducted over time in an ever-changing environment. A strong relationship with opportunity cost - in turn dependant inter alia upon prevailing inflation and / or interest rates - adds further complexity. By extending research in the general area of housing affordability, this thesis seeks to provide a detailed investigation of those elements related to holding costs specifically in the context of midsized (i.e. between 15-200 lots) greenfield residential property developments in South East Queensland. With the dimensions of holding costs and their influence over housing affordability determined, the null hypothesis H0 that holding costs are not passed on can be addressed. Arriving at these conclusions involves the development of robust economic and econometric models which seek to clarify the componentry impacts of holding cost elements. An explanatory sequential design research methodology has been adopted, whereby the compilation and analysis of quantitative data and the development of an economic model is informed by the subsequent collection and analysis of primarily qualitative data derived from surveying development related organisations. Ultimately, there are significant policy implications in relation to the framework used in Australian jurisdictions that promote, retain, or otherwise maximise, the opportunities for affordable housing.

The Road to Whatever: Middle Class Cultgure and the Crisis of Adolescence

In this groundbreaking book, acclaimed sociologist and Pulitzer Prize finalist Elliott Currie draws on years of interviews to offer a profound investigation of what has gone wrong for so many “mainstream” American adolescents. Rejecting such predictable answers as TV violence, permissiveness, and inherent evil, Currie links this crisis to a pervasive “culture of exclusion” fostered by a society in which medications trump guidance and a punitive “zero tolerance” approach to adolescent misbehavior has become the norm. Broadening his inquiry, he dissects the changes in middle-class life that stratify the world into "winners" and "losers," imposing an extraordinarily harsh culture—and not just on kids. Vivid, compelling, and deeply empathetic, The Road to Whatever is a stark indictment of a society that has lost the will—or the capacity—to care.

Policing the Rural Crisis

Based on empirical research in a number of rural communities in north-western NSW, this article explores the dynamics of rural crisis as it is manifested in and through popular attitudes and campaigns around law and order. There is no denying that crime rates in many rural communities are high, often very high by national standards, or that local crime disproportionately involves Indigenous offenders (and Indigenous victims). However, the views expressed in interviews with established White residents, in local media and in organised campaigns around law and order are suggestive of a much deeper sense of threat and crisis. This, it is argued, can be explained in relation not simply to crime rates but the way in which crime is experienced at the local level and the manner in which it is connected to other unwanted change that is seen to threaten the integrity of these communities. In order to understand these anxieties it is necessary to explore historical patterns of settlement, the economic structure and the culture of rural communities. Indigenous Australians have, at best, occupied an ambiguous and fragile position in relation to membership of these communities, a form of ‘passive’ belonging, ‘conditional’ on deference to dominant White norms governing civic and domestic life. Local Indigenous crime can be a source of deep anxiety not only because it causes harm to person and property but because it is interpreted by many Whites as a repudiation of the local social order, a signifier of larger threats to the community and on occasions as a harbinger of social breakdown. The article explores some of the key themes emerging from interview material that characterise this sense of crisis and relates them to the larger pattern of change affecting many communities: economic decline, changing government policies and priorities, the growing relative economic and political power of Indigenous people, debates about native title and so on.

Socio-environmental variability and Barmah Forest virus disease transmission : a review of epidemiological evidence and future prospects

Barmah Forest Virus (BFV) disease is the most rapidly emerging mosquito-borne disease in Australia. BFV transmission depends on factors such as climate, virus, vector and the human population. However, the impact of climatic and social factors on BFV remains to be determined. This paper provided an overview of current research and discusses the future research directions on the BFV transmission. These research findings could be regarded as an impetus towards BFV prevention and control strategies.