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Real Estate Economics articles from March 1996
This journal publishes articles on real estate related topics, including covering homes loans and economic reports for developers, builders, finance companies or homeowners.
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Real Estate Economics archives from March 1996
Credit restrictions and the market for commercial real estate loans.
March 22, 1996... This paper develops a model of the market for commercial real estate loans based on the income capitalization (cap) rate, debt-coverage ratio and loan-to-value ratio, variables used by investors and lenders in their decision-making. The model has...
Throwing good money after bad? Cash infusions and distressed real estate.
March 22, 1996... Consider the following problem. Because of a downturn in the real estate market, the owner of a major office building faces a situation in which the cash flow produced by the building is now less than the interest payment on the mortgage. The...
The borrower's choice of fixed and adjustable rate mortgages in the presence of nominal and real shocks.
March 22, 1996... Since the early 1980s, mortgage borrowers have had a wider variety of alternatives in financing their loans, being able to choose between fixed (FRM) and various adjustable rate mortgages (ARMs). In the middle 1980s, ARMs dominated the mortgage...
Bank regulatory agreements and real estate lending.
March 22, 1996... Recent studies have highlighted the important role of bank capital in the reduction in real estate lending by banks during the past economic downturn (Peek and Rosengren 1994; and Hancock and Wilcox 1993, 1994a, 1994b). While the association...
The substitutability of real estate assets.
March 22, 1996... Studies of the real estate market have attracted an increasing number of financial economists over the last few years. Pricing in the real estate market has been examined by Rayburn, Devaney and Evans (1987), Lusht (1988), Geltner (1989), Case...
Matching of buyers and sellers by brokers: A comparison of alternative commission structures.
March 22, 1996... As with any principal-agent problem, there exists a moral hazard problem between the real estate agent and her(1) client resulting from the inability of the client to completely observe his agent's actions. The moral hazard problem may result in...
Risk and return to housing, tenure choice and the value of housing in an asset pricing context.
March 22, 1996... The paper develops a model of the pricing of owner occupied and rental housing in the context of efficient financial markets. We derive explicit housing pricing equations when competitive conditions hold in both housing and financial markets. We...