Many low-income elderly live in subsidized housing in central cities These aging tenants need adaptive physical structures and supportive services in order to age in place, but lack the resources to pay for them. The responses to the AHEAD Wave 2 survey are used to compare the housing conditions...

Historical commercial real estate returns are attributed to three fundamental factors: initial current yield, growth in net operating income, and changes in going-in versus going-out capitalization rates (i.e., pricing movements). Separating returns into these three factors appears to provide...

Published research has offered little evidence in support of foreign real estate investment. Most of the literature suggests that foreign real estate yields investors in mixed-asset portfolios no tangible benefits in terms of diversification gains. However all these studies were done on the...

This paper presents a methodology that addresses the fundamental question: How can a firm maintain congruence between its real property portfolio and its strategic objectives during time of rapid economic change? The methodology is based on established planning and control theory and is...

This study investigates the normative paired sales adjustment method employed by appraisers in the sales comparison approach. It finds that the method fails to account for the diminishing marginal price effects of property attributes. The study develops an empirical model to test the marginal...

The U.S. Government has identified Yucca Mountain is southern Nevada (110 miles northwest of Las Vegas) as a primary location for a high-level nuclear waste repository. This study investigates the attitude of recent home purchasers toward the establishment of a high-level nuclear repository and...

The purpose of this research is to demonstrate a statistical technique, bootstrapping, and its application in estimating overall capitalization rates in real estate appraisal. This study compares bootstrapped statistics from real estate sample data with the actual sample statistics in order to...

This paper examines the benefits of diversifying into real estate and other assets that typify the wealth held by Japanese investors by examining movements in mean variance frontiers. We employ spanning tests to assess statistical significance of frontier shifts without specifying a benchmark...

De nombreuses études ont montré que l'immobilier constitue un vecteur de placement très intéressant dans une optique de diversification d'un portefeuille mixte. Deux types de placements immobiliers peuvent être considérés : les placements directs et les placements indirects. Dans cet...