The focus of this paper is the analysis of the inflation risk of European real estate securities. Following both a causal and a final understanding of risk, the analysis is twofold: First, to examine the causal influence of inflation on short- and long-term asset returns, we employ different...

Management’s (board of directors or executive officers) contribution to a firm is difficult to directly observe, although stock return performance can be a source of information. This study addresses this issue by extending the work of McIntosh, Rogers, Sirmans and Liang (1994) by...

This study empirically exams the combination of regret aversion and false reference points in a residential real estate context. Survey respondents were put in a hypothetical situation, where they had purchased an investment property several years ago. Hindsight knowledge about a foregone all...

Many databases used for real estate market analysis are not available at the address level. For example, information on employment and unemployment may be available only for labor market areas; and Census data is typically tabulated for blocks or higher levels of spatial aggregation. A...

The long-term demand for commercial real estate depends on the relative attractiveness of each metro market compared to all other metro areas. Economic growth models can generate reliable forecasts of commercial real estate demand, but only for the near term. To analyze and compare metro areas...

The financing structure of a shopping center is decomposed into an income security and two put options. These put options are respectively held by the borrower against the lender for default, and by the lender against an insurer or reinsurer. The prices of the put option depend on the...

Most of the literature on transit corridors, such as superhighways and tunnels, focuses on the positive externality of transit access (e.g., interstate access, transit station) and fails to isolate the negative externality of the corridor itself. This empirical study examines two situations: one...

Many facets of real estate brokerage have been examined in studies appearing in the literature over the last several years. This review attempts to organize the research around six questions concerning the brokerage industry: (1) What is the nature of the market for brokerage services and how...

Linear models of market performance may be misspecified if the market is subdivided into distinct regimes exhibiting different behavior. Price movements in the United States real estate investment trusts and United Kingdom property companies markets are explored using a threshold autoregressive...

This paper examines cycles and common cycles in property and related sectors in the frequency domain. The frequency domain approach is empirically more effective in revealing cycle and common cycle features. It describes the closeness of two time series using coherence and phase as against...