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...

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 article reviews the state of the art in real estate price indexing and the state of knowledge about real estate price dynamics, with a focus on investment property, or income-generating commercial property. Investment properties form a large component of the national wealth and of capital...

A common definition of liquidity in real estate investment is the ability to sell property assetsquickly at full value, as reflected by transaction volume. The present paper makes methodologicaland conceptual contributions in the study and understanding of liquidity. First, we extendthe Fisher...

Using a unique dataset of building operating statements from Fannie Mae, we develop repeated measures regression (RMR) indices for NOI, EGI and PGI to track the cash flow performance of Fannie Mae-financed multifamily real estate. Our three-stage RMR estimate shows an average NOI growth of about...

This paper presents a novel analysis of the differential incidence and effect of Federal income tax policy on owner-occupied and rental housing in the U.S. The objective is to examine whether, and how, rental housing is penalized relative to owner-occupied housing, and if so to estimate the...

Using a unique dataset of building operating statements from Fannie Mae, we develop repeated measures regression (RMR) indices for NOI, EGI and PGI to track the cash flow performance of Fannie Mae-financed multifamily real estate. Our three-stage RMR estimate show an average NOI growth of about...

This article reviews the state of the art in real estate price indexing and, related to that, the current state of knowledge about real estate price dynamics, with a primary focus on investment property, income generating commercial properties. Such assets form a large component of the national...

The general purpose of a dynamic factor model (DFM) is to summarize a large number of time series into a few common factors. Here we explore a number of DFM specifications applied to 80 granular, non-overlapping indexes of commercial property prices in the US, quarterly from 2001 to 2017. We...