REAL 4000 Lecture Notes - Lecture 2: Cash Flow, Externality, Traffic Congestion
22 Apr 2017
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Chapter 4 government controls and real estate markets. Economic rationale for government intervention in real estate. In other words there is an inherent trade-off between housing affordability and the strength of local building codes. Eminent domain: definition, the government can acquire land for public use as long as just compensation is paid to the owner, how is it determined whether a property owner has been. ,000 of taxable value: the property tax bill is calculated by multiplying the millage rate by the assessed value of the property (net of exemptions) and dividing by 1,000. Where cities occurred: preindustrial: fortress or religious center, transition points in trade routes, from river to ocean (new york, new orleans, hamburg, Rotterdam: intersection of rivers (pittsburgh, st. louis, from water to rail (new york, chicago, minneapolis, st. louis, from rail to rail (chicago, atlanta, natural resources, mining (san francisco, denver, pittsburgh, oil (houston, dallas, beaumont-port arthur)
