Estimates from the Boston condominium market show that owners with high loan-to-value ratios take longer to sell their properties than owners with low loan-to-value ratios. When sold, properties with high loan-to-value ratios receive a higher price than units with less debt. Both of these...

Real estate auctions have grown substantially in recent years, emergingas an alternative sales method for many institutions interested in sellinglarge amounts of property quickly. This paper develops a framework for comparing auctions to the more traditional negotiated sales. The model showsthat...

Changes in house prices are generally reported on an aggregate basis. This article suggests that within a metropolitan area, high-value and low-value homes appreciate at different rates. Overall, the author’s results indicate that appreciation rates are more volatile for high-priced homes than...

The impacts of four major tax reform proposals on the level of interest rates and the allocation of the American capital stock are derived. The four plans are Bradley-Gephardt, Kemp-Kasten, Treasury I and Treasury II. The allocation is among seven types of nonresidential capital, rental housing,...