We empirically examine the effect of appraisal quality on subsequent mortgage loan performance using data from the high volatility housing market of Alaska in the 1980s. We develop measures of appraisal quality by computing the residual between a hedonic estimate of house value using available...

This paper confirms and extends prior results regarding tilting of institutional investment in common stock toward quality. The evidence presented here suggests that, while both Real Estate Investment Trusts and institutional investors tilt their real estate holdings toward quality, the tilt is...

Housing prices vary widely between U.S. markets. The purpose of this study is to analyze determinants of housing prices, with particular focus on the effects of regulations in land and housing markets. The basic unit of observation is the city or metropolitan area. The innovative part of the...

This paper is a review of contemporary African housing markets, particularly the consequences of current housing policies. Overall, we conclude that the resource allocation which results from the current housing policies are quite contrary to their intended objectives. Many of the policies are...

Our study investigates the role of speculation in real estate cycles. We find that even a simple model of lagged supply response to price changes and speculation is sufficient to generate real estate cycles. Second, the volatility of prices – the biggest purported downside of “speculation”...

This special issue of Real Estate Economics is devoted to quot;Housing and Urban Development Indicators.quot; The issue has been underwritten by the United States Department of Housing and Urban Development as a U.S. Contribution to the United Nation's Habitat II Conference, held in Istanbul,...