While the monocentric urban models were once adequate for predicting the declining rent gradients for North American cities, the advent of a transportation system with major arteries such as turnpikes, thoroughfares and commuter rails has distorted the rent gradient for many cities. In this...

This is an empirical investigation on the impacts of certain seller concessions on home prices. Specifically, we examine the impacts of two seller concessions: discount point concessions (DPC's) and closing cost concession (CCC's) on home prices. Using hedonic analysis, we find that DPC's are...

This study examines an aspect of hierarchical zoning.Hierarchical zoning, unlike mutually exclusive zoning, isuni-directional in that it protects upper-level residentialuses from nonconforming, non-residential uses but not viceversa. The result is that the lower-level zones can be amixture of...

This paper represents the first empirical attempt to detect the relationship between sales price and listing (or contract) period. Specifically, we examine the relationship between sales price and contract expiration days. Our hypothesized positive relationship between sales price and contract...

There exists a substantial variation in apartment rents between cities of the world. Several factors must contribute to inter-city variations in rents. This paper presents an empirical identification and measurement of some of the relevant factors explaining the variations in rents between a...

Foreclosure proceedings are the primary cause of real-estate auction sales in the US. Given the added legal constraints and risk associated with foreclosure proceedings, it is an empirical question as to whether the resulting prices are a function of the usual underlying factors of physical...

This study examines an aspect of hierarchical zoning. Hierarchical zoning, unlike mutually exclusive zoning, is uni-directional in that it protects upper-level residential uses from nonconforming, non-residential uses but not "vice versa." The result is that the lower-level zones can be a...