There exists a substantial variation in apartment rents between cities of the world. Several factors must contribute to inter-city variations in rents. This paper presents an empirical identification and measurement of some of the relevant factors explaining the variations in rents between a...

Foreclosure proceedings are the primary cause of real-estate auction sales in the US. Given the added legal constraints and risk associated with foreclosure proceedings, it is an empirical question as to whether the resulting prices are a function of the usual underlying factors of physical...

This paper examines the risk and return attributes of international real estate equities over the 1980-1988 time period. The empirical results indicate that international real estate equities offer higher returns as well as greater total and systematic risk than U.S.-based REITs. The results...

We measure the net effect of historic districting on the value of federally certified historic sites. The impact could be either positive or negative depending on the tension between positive externality effects and the constraints on property rights. Since federally certified historic parcels...

This study is an empirical examination of the relationship between pricing and optimal time on the market (TOM). First, estimates of optimal TOMs for our data set are generated using a linear programming model. Next, a workable measure of pricing is provided based on predicted listing prices and...