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This paper investigates the risk-return relationship in determination of housing asset pricing. In so doing, the paper evaluates behavioral hypotheses advanced by Case and Shiller (1988, 2002, 2009) in studies of boom and post-boom housing markets. The paper specifies and tests a housing asset...
Persistent link: https://www.econbiz.de/10012906155
This paper investigates the risk-return relationship in determination of housing asset pricing. In so doing, the paper evaluates behavioral hypotheses advanced by Case and Shiller (1988, 2002, 2009) in studies of boom and post-boom housing markets. The paper specifies and tests a housing asset...
Persistent link: https://www.econbiz.de/10008810150
Persistent link: https://www.econbiz.de/10001214262
Persistent link: https://www.econbiz.de/10001670758
Persistent link: https://www.econbiz.de/10002702231
Persistent link: https://www.econbiz.de/10009242233
We demonstrate that asymmetric information between sellers (loan originators) and purchasers (investors and securities issuers) of commercial mortgages gives rise to a standard “lemons problem”, whereby portfolio lenders use private information to liquidate lower quality loans in CMBS...
Persistent link: https://www.econbiz.de/10013133403
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Persistent link: https://www.econbiz.de/10001220864