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This thesis will be exploring the situation of one of the most vulnerable groups during the COVID-19 pandemic, low-income renters. As businesses and whole states were shutdown, jobs and wages were lost and the over 100 million renters in the United States, many of whom spend a significant chunk of

This thesis will be exploring the situation of one of the most vulnerable groups during the COVID-19 pandemic, low-income renters. As businesses and whole states were shutdown, jobs and wages were lost and the over 100 million renters in the United States, many of whom spend a significant chunk of their income on their rent, were forced into a precarious situation. <br/><br/>The Federal Rent Moratorium that is currently in effect bars any evictions for missed rent payments, but these are expenses that if left unpaid, are just continuously accruing. These large sums of rent payments are currently scheduled to be dropped on struggling individuals at the end of the recently extended date of June 30th, 2021. As these renters are unable to pay for their housing, landlords lose the revenue streams from their investment properties, and are in turn unable to cover the debt service on the financing they utilized to acquire the property. In turn, financial institutions can then face widespread defaults on these loans.<br/><br/>The rental property market is massive, as roughly 34% of the American population consist of renters. If left unaddressed, this situation has the potential to cause cataclysmal consequences on the economy, including mass homelessness and foreclosures of rental properties and complexes. Everyone, from the tenants to the bankers and beyond, are stakeholders in this dire situation and this paper will seek to explore the issues, desires, and potential solutions applicable to all parties involved. Beginning with the pre-pandemic outlook of the rental housing market, then examining the impact of the coronavirus and the resulting federal actions, to finally explore solutions that may prevent or mitigate this potential disaster.

ContributorsMorris, Michael H (Author) / Sadusky, Brian (Thesis director) / Licon, Wendell (Committee member) / Historical, Philosophical & Religious Studies (Contributor) / Historical, Philosophical & Religious Studies, Sch (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description

My Barrett Honors Thesis focuses on answering the question of whether a current owner of a single family home in Tempe, Arizona would receive an adequate return on investment (“ROI”) to justify adding an accessory dwelling unit (“ADU”) on their property for the purpose of generating rental income and capital

My Barrett Honors Thesis focuses on answering the question of whether a current owner of a single family home in Tempe, Arizona would receive an adequate return on investment (“ROI”) to justify adding an accessory dwelling unit (“ADU”) on their property for the purpose of generating rental income and capital appreciation. I focused my research on Tempe’s zoning regulations, ADU general contractor (“GC”) options, possible parcels, proposed construction plans and budget, and lastly, a pro forma to determine ROI. After conducting the research, discussing with several GCs, and modeling returns, I determined that unlevered ADU development constitutes a novelty, not a solid investment choice with today’s market conditions. Factors that would change this recommendation decision would include a decrease in interest rates or a tempering of construction costs.

ContributorsFeffer, Adam (Author) / Koblenz, Blair (Thesis director) / Stapp, Mark (Thesis director) / Barrett, The Honors College (Contributor) / Department of Information Systems (Contributor) / Department of Finance (Contributor)
Created2023-05
ContributorsFeffer, Adam (Author) / Koblenz, Blair (Thesis director) / Stapp, Mark (Thesis director) / Barrett, The Honors College (Contributor) / Department of Information Systems (Contributor) / Department of Finance (Contributor)
Created2023-05
ContributorsFeffer, Adam (Author) / Koblenz, Blair (Thesis director) / Stapp, Mark (Thesis director) / Barrett, The Honors College (Contributor) / Department of Information Systems (Contributor) / Department of Finance (Contributor)
Created2023-05
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Homeownership is an essential part of the American Dream and one of the most important tools for anyone in the 21st century to build wealth. Unfortunately, the COVID-19 pandemic has introduced a level of uncertainty to a market that has been largely stable since the last recession. This has proven

Homeownership is an essential part of the American Dream and one of the most important tools for anyone in the 21st century to build wealth. Unfortunately, the COVID-19 pandemic has introduced a level of uncertainty to a market that has been largely stable since the last recession. This has proven to be a major roadblock affecting multiple generations of Americans in their quests to develop wealth. A particularly interesting case study through this crisis has been the housing market of Phoenix Arizona. When the challenges presented by the pandemic began to unfold, thousands of home listings and sales were canceled all the while newly unemployed Arizonians began to worry about meeting their mortgage payments. However, this disruption didn’t last long, several months after the beginning of the pandemic housing prices quickly began to swell. Many listings continue to be sold for tens of thousands of dollars above the asking price which has led investors to ask: how have Phoenix homes been able to seemingly ignore the economic downturn? Today we are living in the hottest housing market since early 2007, and many expert opinions on the state of the market conflict with one another. Some expect housing prices to crash, others believe this growth is sustainable. A complex web of interconnected financial and human systems has led us to the position we are in today and several important questions have been left unanswered. What forces have driven the market to such dramatic heights? Who have been the winners and losers in the Arizona housing market during the pandemic? And what can be expected to happen in the near future as the “new normal” served to us by COVID-19 unfolds? The purpose of this thesis is to explore these questions and identify the underlying factors that have created the current market conditions. It will begin with an analysis of relevant supply and demand factors, then move to identify groups of winners and losers, to finally develop a prescriptive outlook for challenges facing Phoenix’s housing market.
ContributorsEllerd, Wyatt (Author) / Sadusky, Brian (Thesis director) / Hoffman, David (Committee member) / Barrett, The Honors College (Contributor) / School of Accountancy (Contributor) / Department of Finance (Contributor) / Dean, W.P. Carey School of Business (Contributor)
Created2022-05
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There are many historical inequities regarding housing in the United States, such as the lack of access to affordable and secure housing for people of color, which is a result of centuries of exclusion. These problems remain ineffectively addressed or unaddressed by policy. Indeed, many community-based organizations report that housing

There are many historical inequities regarding housing in the United States, such as the lack of access to affordable and secure housing for people of color, which is a result of centuries of exclusion. These problems remain ineffectively addressed or unaddressed by policy. Indeed, many community-based organizations report that housing policies fail to address the needs of the people—especially those in marginalized communities. Top-down approaches are efficient and more broadly applicable but miss important community-specific problems. Meanwhile, bottom-up approaches excel in highlighting community perspectives and the lived experiences of residents, but they are challenging to generalize across jurisdictions. This thesis captures community-based understandings of policy through in-depth interviews with community-based organizations (CBOs) and applies these understandings to develop a new quantitative framework for evaluating the strengths and weaknesses of housing policies that can be applied across the United States. The thesis also explores various housing policies through a multi-dimensional, intersectional, and forward-thinking analysis that centers marginalized communities.
ContributorsMoen, Anders Jacob (Author) / Colbern, Allan (Thesis advisor) / Pfeiffer, Deirdre (Committee member) / Lee, Sangmi (Committee member) / Arizona State University (Publisher)
Created2021