This course, offered by the MIT Center for Real Estate, focuses on developing an understanding of the macroeconomic factors that shape and influence markets for real property. We will develop the theory of land markets and locational choice. The material covered includes studies of changing...

Purpose – The purpose of this paper is to investigate the relationships between supply and demand in 19 European office markets in the period 1991‐2006. It estimates the variations in the price elasticity of supply across the different markets. The paper tests whether developers display...

There is a substantial literature on property‐market cycles, but not on the related, though distinct, issue of volatility. Focuses on the nature, causes and effects of volatility in the residential property market. Begins with a look at the negative impact of volatility, followed by a brief...