Issues in securitization of real estate under the Japanese economy in transition
Name
42805701-MIT.pdf
Description
Full printable version
Size
5.07 MB
Format
Adobe PDF
Checksum (MD5)
0234b87f3974f5e50f3a1789fac0e01d
Author(s)
Ando, Megumi, 1973-
Advisor(s)
Frank Levy.
Date Issued
1999
Publisher
Massachusetts Institute of Technology
Abstract
Since the end of the Bubble Economy of 1992, Japan has been suffering from the severest and the longest lasting recession it has experienced in the 50 years following the World War II. In this thesis, the true implications of real estate securitization and its potential contribution to the recovery of the Japanese economy are examined. Repairing real estate market is one of the keys to reversing the economic downtrend. The results show that real estate securitization will contribute significantly to the effort to save the Japanese economy. However, it is important to reform the practices, systems, and infrastructure of the real estate market to carry out successful securitization. The major positive implications of real estate securitization include diversification of financing and investment opportunities, the reduction of liquidity risk of real estate, the expansion of the real estate market by increasing the numbers of transactions, promotion of direct financing rather than indirect, use of widened techniques for managing Japanese individual assets, the identification of new business opportunities, and finally, by promotion of reform of a land evaluation method to meet a global standard.
Description
Thesis (M.C.P.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 1999.
Includes bibliographical references (leaves 84-86).
Subjects
Urban Studies and Planning
MIT Department
Massachusetts Institute of Technology. Department of Urban Studies and Planning
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