It has been more than 100 days since the first case of COVID-19 was detected in the US. Until most recently information on the spread of the disease was not available by geographic areas smaller than counties. In an earlier piece we found a significant positive impact of county density on the...

It has been 70 days since the first case of COVID-19 was detected in the US. Since then it has spread and grown in all but 2 of 376 MSAs and all but 45 of the 636 counties that are contained in these MSA. In this paper we examine the determinants of how rapidly the virus grows once it has been...

This study analyzes the impact of contemporaneous loan stress on the termination of loans in the commercial mortgage-backed securities pool using a novel measure, based on changes in net operating incomes and property values at the MSA-property type-year level. Employing a semi-parametric...

This paper demonstrates that different types of real estate can have very different cyclic properties. Empirically, this is shown to be true, and the question is posed as to what might distinguish between property markets where movements are largely stable responses to repeated economic shocks...

This paper applies structural econometric methodology to estimating and forecasting the greater London office market. We assemble a time series covering the 1970-1995 period and estimate equations for net space absorption, movements in rents and new building orders. Together with two identities,...

“CoWorking” represents a new way of providing office space to corporate workers. Rather than companies acquiring dedicated space for their workforce at one or a few sites under long term leases (or ownership), companies contract with a “service provider” to have their workers housed...

This paper examines the inflation in housing prices between 1998 and 2005 and investigates whether this run-up in prices can be quot;explainedquot; by increases in demand fundamentals such as population, income growth and the decline in interest rates over this period. We estimate time series...

This paper examines the behavior of ski resort property in a major New England market over the last 25 years. A constructed property price series reveals that nominal prices are quite volatile and only slightly higher today than in 1980. These fluctuations and trends are investigated with a time...

This empirical paper examines the question of whether movements in housing sales predict subsequent movement in house prices - or the converse. The former (positive) relationship is well hypothesized by several frictional search models of housing market transactions or quot;churnquot;. The...

This paper examines the causes of the run up in house prices between 1998 and 2006 and the subsequent fall. It is argued that two unique factors have been at work: a true quot;bubblequot; in 2nd homes, and a fundamental expansion and now contraction of mortgage credit availability. These...