The study quantifies liquidity impacts measured by the Demand-Supply Gap in terms of asset pricing implications for US private commercial real estate markets of the COVID-19 crisis. So far (using data up to April 2020), New York is hardest hit among the eight metros examined, with a predicted...

This paper presents a model of real estate asset price dynamics based on empirical evidence, economic theory, and common sense. We note important differences between real estate versus stock market price dynamics. We then use this model to simulate the investment performance of archetypical...

Conventional real estate price indices provide a single measure for the path of asset prices over time (controlling for the quality of the representative or average property). But it could be that properties have different price dynamics based on the price segment they are traded in. On the...

This paper reports on the current state of a project to develop a system dynamics (SD) model for urban housing markets in China, aimed at facilitating policy analysis and supporting practical educational tools that might reach large numbers of potential entrepreneurs in China. Although numerous...

Indexes of commercial property prices face much scarcer transactions data than housing indexes, yet the advent of tradable derivatives on commercial property places a premium on both high frequency and accuracy of such indexes. The dilemma is that with scarce data a low-frequency return index...

We introduce new methodology for constructing real estate rent indices. Using unique data on contract rents from six Indian metropolitan markets, we pair subsequent rented units in the same building to create over 12,000 pseudo repeat rent pairs. We impose an autoregressive structure on the log...

Home prices have surged in major Chinese cities, leading to concerns of asset price bubbles and housing affordability. The policy of home purchase restrictions (HPR) has been one of China's harshest housing market interventions to squeeze out speculative demand and dampen the soaring home...

This paper reports on the current state of a project to develop a system dynamics (SD) model for urban housing markets in China, aimed at facilitating policy analysis and supporting practical educational tools that might reach large numbers of potential entrepreneurs in China. Although numerous...

This paper reports empirical evidence on the nature and magnitude of real depreciation in commercial and multi-family investment properties in the United States. The paper is based on a much larger and more comprehensive database than prior studies of depreciation, and it is based on actual...