A dual-beta asset pricing model is employed to examine the cross-section of realized equity real estate investment trust ("EREIT") returns over bull and bear markets. No significant relationship is found between "EREIT" returns and a constant beta. However, beta explains cross-sectional returns...

This study extends the earlier studies by Zerbst and Brueggeman (Z&B) and Colwell, Guntermann and Sirmans (CGS) with regard to the shifting of FHA discount points by the seller to the buyer in the form of a higher selling price. The study extends the earlier studies by reducing the estimation...