"The study and practice of real estate draws on a multitude of disciplines including architecture, urban and regional planning, building construction, urban economics, law, and finance. This diversity of perspectives presents a challenge to the instructor of a real estate principles course....

The last decade's boom and bust in U.S. commercial real estate (CRE) prices was at least as large as that in the housing market and also had a large effect on bank failures. Nevertheless, the role of CRE in the Great Recession has received little attention. This study estimates cohesive models...