This study demonstrates how cointegration analysis of privately-owned housing within disparate areas of the United States can aid developers in anticipating changes in the level of market activity. The study analyzes change in the number of housing units within four geographic regions: the...

Executive Summary:• From November 15,2005, to May 15, 2006, Medicare recipients can enroll in a voluntary prescription drug benefit program referred to as Medicare Part D. Medicare Part D will initially take effect January 1,2006, or the first day of the month following enrollment. •...

Adequate and affordable long-term health care (LTC) is an important concern today. Results from a survey of Certified Public Accountants (CPAs) with the Personal Financial Specialist (PFS) designation indicate that many believe they, as financial counselors, should assume some of the...

OLS regression has typically been used in housing research to determine the relationship of a particular housing characteristic with selling price. Results differ across studies, not only in terms of size of OLS coefficients and statistical significance, but sometimes in direction of effect....

The growing importance of multifamily housing as a viable choice of residence is evidenced by the number of empirical and theoretical studies in the real estate literature. Researchers have investigated the role of this sector of the real estate market for decades. This survey article examines...

This paper provides a meta regression analysis of the nine housing characteristics that appear most often in hedonic pricing models for single-family housing: square footage, lot size, age, bedrooms, bathrooms, garage, swimming pool, fireplace, and air conditioning. Meta regression analysis is...

The home-owning family's equity is a piggybank that can be broken open by borrowing. Each borrowing increases liabilities and cash equally, initially leaving net wealth unchanged. When those funds are spent and cash balances fall, consumption increases even as net wealth can decline. In a...

This paper develops an option-theoretic model of a retail lease. The standard retail lease contains provisions for a security deposit, a base rent, and a percentage rent or a sharing between landlord and tenant of rent revenue above a preset sales threshold or break point level. The findings...

This paper explores the profitability of real estate franchises. The database for the study consists of observations from the National Association of Realtors' 2001 survey of real estate brokerage firms. Franchises are found to generate additional revenue for franchisees. However, net margins...

Real estate markets remain localized and reflect differences by region. With a large number of brokerage firms and a smaller number of franchisors, a testable hypothesis is whether in equilibrium fees and royalties are equal to the additional return to the franchisee. If fees are set uniformly...