The main objective of this paper is to elucidate the capability of time-series regression models to capture and forecast movements in occupancy patterns, rental rates and construction activity. The model presented is a three-stage simultaneous equation model. The first stage incorporates the...

Abstract. The credit market collapse and housing-led economic recession beginning in 2007-2008 have resulted in several million distressed homes in the U.S. that are in various stages of delinquency, default, and foreclosure. Over the past three to four years, a number of private equity...

There is little consensus as to the cause of the housing bubble that precipitated the financial crisis of 2008. Numerous explanations exist: misguided monetary policy; a global savings surplus; government policies encouraging affordable homeownership; irrational consumer expectations of rising...

This article examines the role of commercial real estate investments in the banking crisis of 1985-92, an unprecedented period during which more than 1,300 banks failed. Bank failures are fundamentally important because of the unique role played by financial institutions in the provision of...

Abstract After emerging from the U.S. real estate and financial markets, financial crisis has gradually become global. Due to both primary and secondary mortgage market problems in the U.S. are accepted as the essential reasons of the current crisis, it is believed that financial markets and...

Global financial crisis, arising from real estate and finance sectors, has caused extra ordinary costs for the world economy. Problems in the public management model of the US finance and real estate sectors would be accepted as one of the important reasons of the financial failures in the US...

Dynamic correlation models demonstrate that the relationship between interest rates and housing prices is non-constant. Estimates reveal statistically significant time fluctuations in correlations between housing price indexes and Treasury bonds, the S&P 500 Index, and stock prices of...

We compare the performance of both hedonic and non-hedonic pricing models applied to the problem of housing valuation in the city of Madrid. Urban areas pose several challenges in data mining because of the potential presence of different market segments originated from geospatial relations....

In this study, we provide new evidence on the performance measurement and reporting of commercial real estate returns. We do so by examining the accuracy of commercial-real-estate appraisals that occurred prior to the sale of properties from the NCREIF National Property Index (“NPI”) during...

We use new data from a rental brokers' multiple listings service to examine the contractual agreements between landlords and brokers. The data display two sources of variation in the way in which agents are compensated: 1) 69 percent of listings involve exclusive relationships between landlords...