Intro -- Title Page -- Copyright Page -- Contents -- List of Figures -- Acknowledgements -- Chapter 1 Introduction -- Sub-prime Lending Enters the Financial Vocabulary -- The Global Extension -- Commercial Property Market Context -- Past UK Experience -- A Worldwide Phenomenon -- Commercial...

We propose newly developed unsmoothing techniques for appraisal-based real estate returns based on a regime-switching Threshold Autoregressive (TAR) model. We show that when true returns follow a TAR process, conventional linear autoregressive technique are misspecified and underestimate true...

The three main drivers of investment activity in the real estate sector have been identified as comprising a tripartite mix of bank lending, economy and inflation, and property fundamentals (Gilbertson 2012). Despite their interconnectedness, the impact of each of these factors on real estate...