This study focuses on the precision of models that forecast office construction and absorption. The article is novel because for the first time it applies Feldstein's (1971) technique for developing forecast standard errors in the presence of stochastic exogenous variables. The purpose of the...

This article confirms and extends prior results regarding tilting of institutional investment in common stock toward quality. The evidence presented here suggests that, while both real estate investment trusts and institutional investors tilt their real estate holdings toward quality, the tilt...

We empirically examine the effect of appraisal quality on subsequent mortgage loan performance using data from the high volatility housing market of Alaska in the 1980s. We develop measures of appraisal quality by computing the residual between a hedonic estimate of house value using available...