Ever since the collapse in real estate share prices in 1998, the real estate community has been looking for a solution to the depressed share prices and capital constraints. There have been a number of quick fixes bandied about, with calls from some quarters to re-privatize some of the REITs....

The authors, husband-and-wife journalists, bought a house and lived with their children for sixteen months in the Walt Disney Company's new planned community of Celebration, in Orlando, Florida. Celebration is designed according to the principles of traditional neighborhood development, which...

Subprime lending in the residential mortgage market, characterized by relatively high credit risk and high interest rates or fees, has become a prominent segment of the market in the last ten years. Research indicates there is geographical concentration of subprime mortgages in Census tracts...

Real estate bubbles may occur without banking crises. And banking crises may occur without real estate bubbles. But the two phenomena are correlated in a remarkable number of instances. This paper provides a conceptual framework explaining why the banking sector’s importance and link to the...

We examine two factors that might explain the extent of air traffic delays in the United States: network benefits due to hubbing and congestion externalities. Airline hubs enable passengers to cross-connect to many destinations, thus creating network benefits that increase in the number of...

After its 1992 bankruptcy, Canary Wharf was politically controversial and widely regard-ed as a planning and development disaster. It failed as a result of six factors: a recession in the London property market; competition from the City of London; poor transport links; few British tenants;...

The logic of consolidation became a controversial mantra of the real estate industry dur-ing the late 1990s. Five years later, the empirical research on economies of scale cannot resolve the debate. In an industry as fragmented as real estate, market dominance and pric-ing power is exceedingly...