Shilling, James D.; Wurtzebach, Charles H. - In: Journal of Real Estate Research 34 (2012) 4, pp. 429-462
There has been a great deal of interest in the question of whether value-added and oppor- tunistic real estate investing has resulted in appropriate risk-adjusted returns. However, a satisfactory answer to this question has not been agreed upon. In this paper, data from the National Council of...