The Real Estate and Housing Student Association (REHSA) hosted an amazing event on Wednesday. Billed as “An Evening with Industry”, students, alumni, faculty and friends of the program met at a hotel in downtown Toronto, looked at the past 20 years of both our major and the industry, and looked to the future. Continue reading
Donna Haley is a local property manager who owns some of her properties and manages some properties for others. Some of the properties are rented to students to whom Donna can be very motherly and protective if she wants to be. Some of the properties are condominiums, which are a special kind of joy. Continue reading
Everybody knows that you should read the fine print on a legal contract. The same logic applies when interpreting data since many numerical “measures” or “indices” or “scales” or “ratios” have fancy sounding names which do not always mean what they say. Today’s news discussed a report focusing on a methodological issues with implications for real estate markets. Continue reading
I am pleased to say that the newest member of GREG recently won an award for her Ph.D. thesis entitled “Three Essays in Residential Real Estate Topics: An Examination of Rental Tenure, Green Residential Construction Policy and Green Residential Rental Rates”. Avis Devine received the Aareal Award of Excellence in Real Estate Research from the Real Estate Management Institute (REMI) of the EBS Business School and Aareal Bank AG. She traveled to Wiesbaden (near Frankfurt, Germany) to be recognized publicly at the EBS Real Estate Congress. Continue reading
A recent announcement, with far-reaching effect, has produced almost no discussion in the media  : ICANN (http://www.icann.org/ the group which oversees the infrastructure of the internet) has (again) decided to expand the range of top-level domain names for websites. So, in addition to .ca, .com, .gov, .org, .net and so on, there will be names like .condo and .house. More than 70 have been approved in 2014 so far; seven of them are clearly related to real estate, with more approved in 2013. To see the complete list of names that were applied for, see http://www.youtube.com/watch?v=n6sSHwQpofY
Names were allocated to somebody else who can then make money by selling subsidiary names which share the same top-level name. So,
- What is the “right” price for the name of a website?
- What is its market price? (Hint: ICANN is a monopolist.)
Real money is at stake, as indicated by the examples at this website.
These questions offer an intriguing puzzle to people with an interest in real estate since the process of finding an answer differs little from valuing a street address. Continue reading
Most people think of branding as something which is important when marketing packaged goods. It is certainly important to famous companies and, therefore, it is not surprising that the top companies include those in the financial, telecommunications and retailing sectors.
An article in the most recent Report on Business Magazine shows that four real estate companies rank amongst the Canadian Top 100 in terms of brand value:
- Brookfield Asset Management (#17, top in the real estate category at $2.4b)
- Ivanhoe Cambridge (#40)
- Cadillac Fairview (#55)
- Oxford Properties (#95)
It makes sense since real estate is something which lasts for a long time and a valuable brand can produce benefits for a long time. It is also interesting to note that, despite their size and the size of the real estate sector, only one of these companies is publicly traded.
(The 13 retailing companies with valuable brands are also a kind of real estate company since the floor space taken by large retailers help to improve and broaden the brand recognition which they covet.)