Real Estate Economics articles from December 1996

Real Estate Economics archives from December 1996

Turnover as a measure of demand for existing homes.
December 22, 1996... In presenting the daily stock market statistics, reporters on the nightly news typically give the price changes first and then the number of shares traded. But when newscasters cover the market for existing homes, changes in the number of homes...

Rational expectations, market fundamentals and housing price volatility.
December 22, 1996... In recent years many local housing markets in North America have undergone boom and bust cycles. These episodes are characterized by dramatic house price fluctuations over relatively short periods of time. What drives these episodes of house...

Forecasting the discounts of market prices from appraised values for real estate limited partnerships.
December 22, 1996... The appraisal industry is generally quite good at assessing the market value of real estate properties. Unfortunately, this skill alone is insufficient when it comes to the valuation of real estate limited partnership units. Real estate limited...

Systematic risk and diversification in the equity REIT market. (real estate investment trust)
December 22, 1996... This paper examines the relations between the types and locations of properties owned by equity real estate investment trusts (REITs) and market-based measures of systematic risk and diversification. Almost all previous analyses of these issues...

A comparison of prices brought by English auctions and private negotiations.
December 22, 1996... The question of whether pricing mechanisms matter was opened by Vickrey (1961), who demonstrated that standard auction formats should produce equal revenues under a set of strong assumptions. Since then, considerable effort has been put into the...

Comparing the accuracy of the minimum-variance grid method to multiple regression in appraised value estimates.
December 22, 1996... The adjustment-grid method is probably the most frequently used approach to estimating the market value of single-family houses.(1) In light of the wide applications of the technique, it is puzzling as to why the academic community has placed so...

A note on ranking real estate research journals.
December 22, 1996... Real estate is an emerging academic discipline with no clear consensus on the rank and importance of real estate journals. Attempts to rank journals in the field or measure research output are either dated because the population of journals has...