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dc.contributor.authorFurtado, Bernardo Alves-
dc.contributor.authorSouza, João Gabriel de Moraes-
dc.description.abstractReal estate markets are subject to dynamic, ever-changing influences from location, amenities and neighborhoods; regulation, zoning and population changes; but also – macroeconomic variables, such as interest rates, inflation and economic cycles. The decision to buy or rent a durable, financially significant asset is a difficult one for both experts and amateurs alike. This paper provides a review of classic urban economic fundamentals and a more recent financial and macroeconomic analysis of the literature. There is consensus that a complex, long-term number of factors apply to the market and no single model can encompass all uncertainties revolving around the decision-making. Aiming at offering a practical tool, we propose a numerical simulation that takes the parameter space of renting versus purchasing homes to probabilistic estimate which choice would be more advantageous, more often. We analyze four concrete cases using Brazilian market sensible parameters. The simulation suggests that the amortization scheme known as SAC for the mortgage system is a better choice in nearly two-thirds of the cases. Renting is preferential on very low relative prices, very high real return or inflation. This pathway – from existing model and literature to areasonable space of advantageous choice – leads to the suggestion that contracts in Brazil should acknowledge this level of uncertainty by including explicit mortgage renegotiations within shorter periods.pt_BR
dc.publisherInstituto de Pesquisa Econômica Aplicada (Ipea)pt_BR
dc.titleTenure choice : fundamentals and a simulationpt_BR
dc.title.alternativeDiscussion Paper 248 : Tenure choice : fundamentals and a simulationpt_BR
dc.title.alternativeEscolha de posse : fundamentos e uma simulaçãopt_BR
dc.typeDiscussion Paperpt_BR
dc.rights.holderInstituto de Pesquisa Econômica Aplicada (Ipea)pt_BR
dc.description.physical33 p. : il.pt_BR
dc.subject.vcipeaIPEA::Condições Econômicas. Pesquisa Econômica. Sistemas Econômicos::Sistemas Econômicos::Propriedades::Bens Imóveispt_BR
dc.subject.vcipeaIPEA::Demografia. População::Habitação. áreas Rurais. áreas Urbanas::Habitação. Assentamentos Humanos::Financiamento Habitacionalpt_BR
dc.rights.licenseReproduction of this text and the data it contains is allowed as long as the source is cited. Reproductions for commercial purposes are prohibited.pt_BR
dc.subject.keywordMercado de imóveispt_BR
dc.subject.keywordFinanciamento imobiliáriopt_BR
dc.subject.keywordTomador de decisãopt_BR
ipea.description.objectiveCriar uma ferramenta prática e propor uma simulação numérica que tenha como parâmetro "o alugar ou comprar uma casa", para que seja estimada a escolha mais vantajosa.  pt_BR
ipea.description.methodologyThe numerical simulation (Simulação numérica).pt_BR
ipea.description.additionalinformationSérie monográfica: Discussion Paper ; 248pt_BR
ipea.description.additionalinformationPossui referências bibliográficas;pt_BR
ipea.description.additionalinformationPossui apêndice;pt_BR
ipea.access.typeAcesso Abertopt_BR
ipea.rights.typeLicença Comumpt_BR
ipea.classificationSistema Monetário. Finanças. Bancospt_BR
Appears in Collections:Sistema Monetário. Finanças. Bancos: Livros
Habitação: Livros

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