ERES:conference

Empirical studies on housing tenure choice have generally uncovered a multiplicity of factors that influence households in their decision to own using mostly national aggregate or cross-metropolitan data that often obscure intrametropolitan influences. In this aper we focus on these localized...

Studies examining mortgage choice behavior generally assume a frictionless mortgage market in which borrower decisions are influenced only by economic variables. This study explores the interface between demographic and institutional factors inherent in mortgage market logistics and the...

This article chronicles the past, present, and future of the American Real Estate Society (ARES). The primary mission of ARES is to be the leading real estate research and education organization globally that influences real estate thought leadership and decision making. To accomplish this...

"Rigorous analysis of cycles in the economy began with Wesley Michell's Business Cycles: The Problem and the Setting. Michell's work was a much broader examination then Irving Fisher's much earlier study, The Rate of Interest, that formalized the linkage between inflation and interest rates. The...

This study synthesizes relevant research and commentary on real estate cycles in a micro-decision-making context and discusses their strategic implications for investors and portfolio managers. It begins with an extensive review of the macro-economic, micro-economic and practitioner literature...

Traditional real estate valuation models stabilize cash flow variables in a single- or multi-year pro forma, assume efficient markets, and impute property return/risk expectations into a current overall market capitalization rate to determine value. This traditional valuation framework is biased...