Real Estate Economics
SCOPUS (1973-2025)SSCI-ISI
1540-6229
1080-8620
Anh Quốc
Cơ quản chủ quản: WILEY , Wiley-Blackwell Publishing Ltd
Lĩnh vực:
AccountingFinanceEconomics and Econometrics
Các bài báo tiêu biểu
The Long-Run Relationship between House Prices and Income: Evidence from Local Housing Markets
Tập 34 Số 3 - Trang 417-438
An Anatomy of Price Dynamics in Illiquid Markets: Analysis and Evidence from Local Housing Markets
Tập 32 Số 1 - Trang 1-32 - 2004
This research analyzes the dynamic properties of the difference equation that
arises when markets exhibit serial correlation and mean reversion. We identify
the correlation and reversion parameters for which prices will overshoot
equilibrium (“cycles”) and/or diverge permanently from equilibrium. We then
estimate the serial correlation and mean reversion coefficients from a large
panel data set of...
Time on the Market and Selling Price
Tập 6 Số 2 - Trang 164-174 - 1978
This study is primarily an analysis of tradeoff between selling time and price,
both on a nominal and real basis. Sellers are seen as desiring to maximize their
discounted real selling price and trading off the nominal selling price with
expected selling time. The time a property remains on the market is important,
not only because of its reflection on price, but also because of its possible
refle...
Search and Liquidity in Single‐Family Housing
Tập 24 Số 3 - Trang 273-292 - 1996
A two‐stage least squares model of housing prices is estimated with data
collected from 3358 single‐family home transactions. The results provide
evidence for an optimal marketing period and indicate that a liquidity premium
is priced in single‐family home sales. Consistent with the hypothesis derived
from economic search models, the model shows higher selling prices for houses
having longer expec...
REIT and Commercial Real Estate Returns: A Postmortem of the Financial Crisis
Tập 43 Số 1 - Trang 8-36 - 2015
In the years surrounding the financial crisis, the share prices of equity Real
Estate Investment Trusts (REITs) were much more volatile than the underlying
commercial real estate prices. To better understand this phenomenon we examine
the cross‐sectional dispersion of REIT returns during this time period with a
particular focus on the influence of their capital structures. By looking at
both the d...
Green Buildings in Commercial Mortgage‐Backed Securities: The Effects of LEED and Energy Star Certification on Default Risk and Loan Terms
Tập 48 Số 1 - Trang 7-42 - 2020
AbstractWe study the impact of green building on loans in the CMBS market. A
hazard model shows green buildings carry 34% less default risk, all else equal.
A matched‐sample analysis gives similar results. We attribute the effect to a
loan‐to‐value channel, where risk is lowered by a green price premium. The
benefit comes at least partly from the level of green achievement, not only the
label itse...
Appraising home purchase appraisals
Tập 49 Số S1 - Trang 134-168 - 2021
AbstractHome appraisals are produced for millions of residential mortgage
transactions each year. In addition to preventing fraudulent transactions, an
important benefit of appraisals when they report a value below the contract
price is that they help borrowers renegotiate prices with sellers. However,
appraised values are rarely below the purchase contract price: Some 30% of
appraisals in our sam...
Private mortgage securitization and loss given default
Tập 50 Số 5 - Trang 1334-1359 - 2022
AbstractLoan performance varies by default probability and loss given default
(LGD). While the relationship between securitization and default probability has
been studied intensively, the effect of securitization on LGD remains
unexplored. Using a unique data set containing over 40,000 mortgage
liquidations, this article studies the effect of private securitization on LGD.
We document that securi...