This study analyzes the impact of contemporaneous loan stress on the termination of loans in the commercial mortgage-backed securities pool using a novel measure, based on changes in net operating incomes and property values at the MSA-property type-year level. Employing a semi-parametric...

This study analyzes the impact of contemporaneous loan stress on the termination of loans in the commercial mortgage-backed securities pool from 1992 to 2004 using a novel measure, based on changes in net operating incomes and property values at the metropolitan statistical...

This study analyzes the impact of contemporaneous loan stress on the termination of loans in the commercial mortgage-backed securities pool using a novel measure, based on changes in net operating incomes and property values at the MSA-property type-year level. Employing a semi-parametric...

Spontaneous orders are all around us. These have been defined as resulting from human action rather than human design. Prominent examples include language, th e common law, the scientific process, the various applications of the internet, and the market economy – all of them important...

Due north of Culver City and southwest of Hollywood, lies Century City, an icon of midcentury modernism and urban planning (see Figure 2.1). Midcentury modernism in Los Angeles is most closely associated with sleek glass houses in the Hollywood Hills, while Los Angeles midcentury planning evokes...

Since the option to redevelop a property is valuable, ground leased property should trade at adiscount relative to fee simple property because of the impairment of the value of that optionresulting from the foreshortened horizon of the leaseholder. This discount would be over andabove the...

Prices of existing houses peaked in southern California during the second quarter of 1990 andpreceded a lengthy recession. This paper examines the response of homebuilders in a masterplanned community in the suburban Los Angeles region to the end of the boom and the onsetand deepening of the...

In Los Angeles, and the United States in general, the defining trend of economic redevelopment projects has been the displacement of low-income communities. Considering this history, the 2001 Community Benefits Program - an agreement between a developer and a coalition of community groups and...

Traditional assimilation theory predicts immigrant adaptation into society as a function of catching up to status of U.S.-born non-Hispanic white households. Recent Taiwanese immigrants, rather than climbing socioeconomic ladders overtime, may have surpassed the socioeconomic status of whites...

Discussions of economic growth require an examination of the role of cities. It is widely claimed that c ities exi st because they facilitate economic growth and development . Spatial concentrations reduce transactions cost s . There are additional benefits gained as positive spillover effects...