This article tests whether the activity at a metropolitan area's airport helps predict population and employment growth. In regression equations explaining employment and population growth, the article uses various measures of airport activity, including boardings, originations, hub status and...

This study uses new data on the rate of prepayment on conventional single-family adjustable-rate mortgages (ARMs) that originated between 1983 and 1986 to determine if ARMs with and without initial-year discounts have the same probability of paying off. The new data are from a large national...

Vandell (1991) and Gau, et al. (1992) have recently developed rigorous methods for selecting and weighting comparables for the market comparison approach to valuation. This paper compares the statistical properties of the Vandell and Gau approaches; specifically, it examines the bias and...

Immigration has and will continue to alter the composition of housing demand in the United Sates. In this article, we analyze results from a new survey of Mexican-heritage households to draw some inferences about tenure choice within that group. Some measures of attachment to the United...

Housing prices vary widely from market to market in the United States. The purpose of this study is to (1) construct new place-to-place indexes of the price of housing, using the 1990 Census, and (2) analyze the determinants of housing prices, with a particular focus on the supply side...

This paper examines the effect of different kinds of investments on the business cycle. Specifically, it examines whether residential and non-residential investment Granger cause GDP, and whether GDP Granger causes each of these types of investments. The paper uses quarterly National Income and...

The Economic Recovery Tax Act of 1981 significantly reduced the taxation of income-producing properties by accelerating tax depreciation on both new and, especially, existing properties. A partial reversal of the 1981 legislation appears likely. To provide some insight into the possible effects...

We examine foreclosures on FHA single-family mortgages insured during the 1975-87 period. The importance of the market value of borrower equity and national house price dispersion support much earlier work emphasizing the key role of negative equity in triggering default. The lower is "mean"...