Band I führt in die betriebswirtschaftlichen Grundlagen ein. Der Schwerpunkt liegt dabei auf den funktionalen Aspekten der Immobilieninvestition und -finanzierung, der Immobilienanalyse und -bewertung sowie des Immobilienmarketings. Ein weiterer Gegenstand des Buches ist das Management von...

Some booms in housing prices are followed by busts. Others are not. It is generally difficult to find observable fundamentals that are useful for predicting whether a boom will turn into a bust or not. We develop a model consistent with these observations. Agents have heterogeneous expectations...

This paper investigates price distortions in dual agent real estate transactions. Consistent with the literature, we find that dual agent has a null effect on sale price. However, dual agent distortions on sale price emerge after controlling for the ownership of the property. We find that dual...

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”...

Some booms in housing prices are followed by busts. Others are not. In either case it is difficult to find observable fundamentals that are correlated with price movements. We develop a model consistent with these observations. Real estate agents have heterogeneous expectations about long-run...

Some booms in housing prices are followed by busts. Others are not. It is generally difficult to find observable fundamentals that are useful for predicting whether a boom will turn into a bust or not. We develop a model consistent with these observations. Agents have heterogeneous expectations...