Many papers have attempted to explain Intelmetropolitan variations in the price of housing using multi-equation models of the metropolitan housing market. This paper uses a long-run equilibrium urban asset model to explain such variations. The model builds upon previous models that introduce...

To date our understanding of the factors affecting the housing supply stem from the private provision of new units through real estate development. This article investigates a different aspect of housing supply, the private provision of rental housing through investment in existing properties....

ERES:conference

ERES:conference

This paper examines the degree of short run co-movement in UK commercial real estate returns. The hypothesis is that a large fraction of the fluctuations may result from a small number of core disturbances that are transmitted from one region to another and from one property type to another. It...

This paper empirically analyzes the impact of high voltage (defined as 69,000 volts or greater) electric transmission lines on the prices of nearby single detached houses. The study demonstrates the importance of using the correct function specification and correcting for (commonly found)...

ERES:conference

This paper considers the processes of appraisal smoothing within the direct real estate market and of price discovery between the indirect and direct real estate markets. Appraisal smoothing involves the optimum combination of past and current information, the latter observed with an error....

This paper reviews the literature on price determination in the private and public real estate markets. In particular, it discusses the processes of appraisal smoothing in the private market and of price discovery between the public and the private markets. In real estate markets, the absence of...