This article is a theoretical examination of optimal financial leverage for real estate investment in the presence of uncertainty. The main results is to show that uncertainty creates the possibility that a borrower will default on a real estate loan, and that this possibility is the underlying...

This study examines suburban real estate developments in the industrial, commercial, and residential sectors for metropolitan Chicago that were completed in 1990-1996. Industrial and commercial developments follow expected patterns in that, for example, they were attracted to locations nearer to...

This article presents a monthly vector autoregressive (VAR) model of housing prices, the federal funds rate, foreclosures, the unemployment rate and the mortgage interest rate for the United States for the period of 2000(1)--2010(8). Impulse response functions show that negative shocks to the...