This study reexamines the price effects of age restrictions on housing prices. Our data cover a period when the housing market is taking a steep downturn. We argue that, when housing prices are falling, seniors are more likely to avoid investing in housing for at least two reasons. First,...

This paper examines the economic impact of restrictions against keeping domestic pets in residential dwellings. Using a large data sample of condominium sales, we empirically estimate price effects associated with pet restrictions. Our results suggest that an unrestricted pet policy creates a...

The role of selling (or marketing) period uncertainty in understanding risk associated with property investment is examined in this paper. Using an approach developed by Lin (<CitationRef CitationID="CR14">2004</CitationRef>), and Lin and Vandell (<CitationRef CitationID="CR15">2001</CitationRef>, <CitationRef CitationID="CR16">2005</CitationRef>), combined with a statistical model of UK commercial property transactions, we...</citationref></citationref></citationref>

Previous studies have shown that foreclosure often results in vandalism, disinvestment and other negative spillover effects in the neighborhood. This paper extends these views into a formal theoretical model through pricing based on comparables. We project that the spillover effect of a...

Rational investors distinguish between extremely high and extremely low returns. The measures of investment risk should reflect such asymmetric risk perception. This study presents six asymmetric risk metrics and empirically tests their abilities in explaining the cross-sectional variations of...

This study investigates the potential for farmland to improve mixed-asset portfolio efficiency. Three major conclusions are drawn from the research. First, in a world with certainty, farmland can be shown to statistically improve mixed-asset portfolio efficiency. Second, with the introduction of...

Recent market segmentation research has begun to delve into the issue of whether traditional property-type categories are sufficiently homogeneous to be modeled as aggregate real estate markets. This article extends the research on rental-property market segmentation by investigating the...