Real estate research has a long and extensive history of analyzing space market dynamics. Nonetheless, two areas have been under researched. Regional panels of data have been rarely analyzed. Moreover, due to data constraints, the retail market has been studied much less than other market...

We begin with a description of three house price panel data sets for the period 1982 to 1991. Next, we estimate a model that assumes the three sources are derived from an underlying unobserved price series, and we construct composite indexes that report house prices for 135 locations. These...

This paper develops evidence that, in a declining market, appraisal values may lag notably behind analytical measures of the discounted present value of commercial property cash flows. For the period 1982-92, alternative measures of the economic value of constant-quality office buildings are...

Periodic sharp sustained increases and then reversals in asset prices lead many to posit irrational price bubbles. The general case for irrationality is that real asset prices simply have moved too much given the future real cash flows the assets are reasonably likely to produce. A corollary for...

The upward‐only lease is the dominant rental contract in the UK, while the turnover lease is widely used in the US retail sector. This paper compares and contracts the landlord rent options in these two leases, interpreting and extending the earlier simulation analysis of Booth and Walsh and...