• Publications
  • Influence
Vacancy Rates and the Future of Office Rents
This research confirms the existence of a strong vacancy rental adjustment mechanism in the market for office space, such as has been found in housing markets. Using national time-series data, weExpand
  • 168
  • 6
The Cyclic Behavior of the Greater London Office Market
This paper applies structural econometric methodology to estimating and forecasting the greater London office market. We assemble a time series covering the 1970–1995 period and estimate equationsExpand
  • 163
  • 5
An Investment Model of the Demand and Supply For Industrial Real Estate
A recent inventory of industrial building in fifty-two major metropolitan areas of the country indicates that most such space is either owner occupied or single tenant. This suggests that theExpand
  • 77
  • 3
Real Estate Market Fundamentals and Asset Pricing
This article addresses empirically recent concerns about a dichotomy between capital markets and real estate market fundamentals. Motivated by recent decreases in capitalization (cap) rates in lightExpand
  • 19
  • PDF
Measuring Real Estate Risk : Forecast Return Uncertainty
The rapid recovery of US real estate markets and the concomitant emergence of new development have stimulated concern over whether U.S. real estate markets will once again overbuild as they did inExpand