Pub Date : 2020-07-02DOI: 10.1080/08965803.2020.1844476
Justin D. Benefield, Christopher L. Cain, Norman Maynard
The most commonly used econometric models for time-on-market in housing studies force researchers into a tradeoff between problems of nonlinearity, which may be addressed with a hazard model, and e...
{"title":"Solving Old Puzzles with New Tricks: Addressing Endogeneity and Nonlinearity in Time-on-Market Research","authors":"Justin D. Benefield, Christopher L. Cain, Norman Maynard","doi":"10.1080/08965803.2020.1844476","DOIUrl":"https://doi.org/10.1080/08965803.2020.1844476","url":null,"abstract":"The most commonly used econometric models for time-on-market in housing studies force researchers into a tradeoff between problems of nonlinearity, which may be addressed with a hazard model, and e...","PeriodicalId":51567,"journal":{"name":"Journal of Real Estate Research","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2020-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/08965803.2020.1844476","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43477582","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-17DOI: 10.22300/0896-5803.42.1.37
H. Marfatia
In this paper, I undertake a novel approach to uncover the forecasting interconnections in the international housing markets. Using a dynamic model averaging framework that allows both the coeffici...
{"title":"Forecasting Interconnections in International Housing Markets: Evidence from the Dynamic Model Averaging Approach","authors":"H. Marfatia","doi":"10.22300/0896-5803.42.1.37","DOIUrl":"https://doi.org/10.22300/0896-5803.42.1.37","url":null,"abstract":"In this paper, I undertake a novel approach to uncover the forecasting interconnections in the international housing markets. Using a dynamic model averaging framework that allows both the coeffici...","PeriodicalId":51567,"journal":{"name":"Journal of Real Estate Research","volume":"42 1","pages":"37-103"},"PeriodicalIF":0.8,"publicationDate":"2020-06-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46188457","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-17DOI: 10.22300/0896-5803.42.1.105
Peter T. Chinloy, M. Cho, Cheng Jiang, Inho Song
We examine the sum of the net rent-price ratio plus the expected real capital gains, which is the real return to holding a house. The rent-price ratio depends on expectations about interest rates, ...
{"title":"Housing Returns with Mortgage and Price Shocks","authors":"Peter T. Chinloy, M. Cho, Cheng Jiang, Inho Song","doi":"10.22300/0896-5803.42.1.105","DOIUrl":"https://doi.org/10.22300/0896-5803.42.1.105","url":null,"abstract":"We examine the sum of the net rent-price ratio plus the expected real capital gains, which is the real return to holding a house. The rent-price ratio depends on expectations about interest rates, ...","PeriodicalId":51567,"journal":{"name":"Journal of Real Estate Research","volume":"42 1","pages":"105-124"},"PeriodicalIF":0.8,"publicationDate":"2020-06-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43904362","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-17DOI: 10.22300/0896-5803.42.1.125
Yu Liu, Jonathan A. Wiley
Corporate investors pay significantly higher prices for industrial acquisitions (by an estimated 10%), but sell at market prices that are no different from other investors. The findings implicate i...
{"title":"Clientele Effects for Corporate Investors in the Industrial Market","authors":"Yu Liu, Jonathan A. Wiley","doi":"10.22300/0896-5803.42.1.125","DOIUrl":"https://doi.org/10.22300/0896-5803.42.1.125","url":null,"abstract":"Corporate investors pay significantly higher prices for industrial acquisitions (by an estimated 10%), but sell at market prices that are no different from other investors. The findings implicate i...","PeriodicalId":51567,"journal":{"name":"Journal of Real Estate Research","volume":"42 1","pages":"125-150"},"PeriodicalIF":0.8,"publicationDate":"2020-06-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46187426","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-04-02DOI: 10.22300/0896-5803.42.1.151
R. Aroul, J. Hansz, M. Rodríguez
In the literature, there is a wide range of discounts associated with foreclosures. Comparisons across studies are difficult as they use different methodologies across large areas over different ti...
{"title":"Understanding Distressed Residential Transaction Discounts Across Price Segments and Market Conditions","authors":"R. Aroul, J. Hansz, M. Rodríguez","doi":"10.22300/0896-5803.42.1.151","DOIUrl":"https://doi.org/10.22300/0896-5803.42.1.151","url":null,"abstract":"In the literature, there is a wide range of discounts associated with foreclosures. Comparisons across studies are difficult as they use different methodologies across large areas over different ti...","PeriodicalId":51567,"journal":{"name":"Journal of Real Estate Research","volume":"42 1","pages":"151-182"},"PeriodicalIF":0.8,"publicationDate":"2020-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44650037","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-01-01DOI: 10.22300/0896-5803.42.1.1
Daniel Huerta-Sanchez, Thanh Ngo, Mark K. Pyles
Real estate investment trust (REIT) acquisitions are recurrent capital allocation decisions that impact the value and operations of the firm. Although REIT equity acquisitions have received conside...
{"title":"Equity versus Asset Acquisitions in the REIT Industry","authors":"Daniel Huerta-Sanchez, Thanh Ngo, Mark K. Pyles","doi":"10.22300/0896-5803.42.1.1","DOIUrl":"https://doi.org/10.22300/0896-5803.42.1.1","url":null,"abstract":"Real estate investment trust (REIT) acquisitions are recurrent capital allocation decisions that impact the value and operations of the firm. Although REIT equity acquisitions have received conside...","PeriodicalId":51567,"journal":{"name":"Journal of Real Estate Research","volume":"35 1","pages":""},"PeriodicalIF":0.8,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138534433","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-12-10DOI: 10.22300/0896-5803.41.4.555
Wei Sun, Ying Huang, R. Spahr, Mark A. Sunderman, Minxing Sun
Abstract We identify the real and social costs associated with neighborhood blight by creating unique neighborhood blight indices based on average individual property blight scores in Memphis, Tenn...
{"title":"Neighborhood Blight Indices, Impacts on Property Values and Blight Resolution Alternatives","authors":"Wei Sun, Ying Huang, R. Spahr, Mark A. Sunderman, Minxing Sun","doi":"10.22300/0896-5803.41.4.555","DOIUrl":"https://doi.org/10.22300/0896-5803.41.4.555","url":null,"abstract":"Abstract We identify the real and social costs associated with neighborhood blight by creating unique neighborhood blight indices based on average individual property blight scores in Memphis, Tenn...","PeriodicalId":51567,"journal":{"name":"Journal of Real Estate Research","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2019-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44312618","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-12-10DOI: 10.22300/0896-5803.41.4.639
George D. Cashman, David M. Harrison, Michael J. Seiler, Hainan Sheng
Abstract We examine the relation between both intrafirm geographic and cultural distance (i.e., the distance between a firm's headquarters location and its investment properties) on the underlying ...
{"title":"The Relation between Intrafirm Distances and Information Opacity: Evidence from Stock Market Liquidity","authors":"George D. Cashman, David M. Harrison, Michael J. Seiler, Hainan Sheng","doi":"10.22300/0896-5803.41.4.639","DOIUrl":"https://doi.org/10.22300/0896-5803.41.4.639","url":null,"abstract":"Abstract We examine the relation between both intrafirm geographic and cultural distance (i.e., the distance between a firm's headquarters location and its investment properties) on the underlying ...","PeriodicalId":51567,"journal":{"name":"Journal of Real Estate Research","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2019-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.22300/0896-5803.41.4.639","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42168751","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-12-10DOI: 10.22300/0896-5803.41.4.513
Eli Beracha, Zifeng Feng, William G. Hardin
Abstract A real estate investment trust (REIT) is an intermediary that passes its cash flows and income to its shareholders. Hence, the efficiency of a REIT in providing this service should affect ...
{"title":"REIT Operational Efficiency and Shareholder Value","authors":"Eli Beracha, Zifeng Feng, William G. Hardin","doi":"10.22300/0896-5803.41.4.513","DOIUrl":"https://doi.org/10.22300/0896-5803.41.4.513","url":null,"abstract":"Abstract A real estate investment trust (REIT) is an intermediary that passes its cash flows and income to its shareholders. Hence, the efficiency of a REIT in providing this service should affect ...","PeriodicalId":51567,"journal":{"name":"Journal of Real Estate Research","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2019-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.22300/0896-5803.41.4.513","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47511092","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-12-10DOI: 10.22300/0896-5803.41.4.605
Eli Beracha, M. Lang, Jochen Hausler
Abstract We examine whether and the extent to which news-based sentiment, captured by textual analysis, can predict the performance of the private commercial real estate market in the United States...
{"title":"On the Relationship between Market Sentiment and Commercial Real Estate Performance—A Textual Analysis Examination","authors":"Eli Beracha, M. Lang, Jochen Hausler","doi":"10.22300/0896-5803.41.4.605","DOIUrl":"https://doi.org/10.22300/0896-5803.41.4.605","url":null,"abstract":"Abstract We examine whether and the extent to which news-based sentiment, captured by textual analysis, can predict the performance of the private commercial real estate market in the United States...","PeriodicalId":51567,"journal":{"name":"Journal of Real Estate Research","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2019-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47235559","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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