The thesis looks three pertinent issues in Housing Market and Urban Economics literature with panel data- home sales and house price relationship, efficiency of housing market and commercial property taxation. For the first part, I examine the strong positive correlation that exists between the...

In this paper we revisit many studies that have attempted to explain the determinants of real estate capitalization rates. We introduce two new innovations. First we are able to identify two macroeconomic factors that greatly impact cap rates besides risk free treasury rates. These are the...

This course, offered by the MIT Center for Real Estate, focuses on developing an understanding of the macroeconomic factors that shape and influence markets for real property. We will develop the theory of land markets and locational choice. The material covered includes studies of changing...