Introduction for REAL—Maastricht-MIT Special Issue

Introduction for REAL—Maastricht-MIT Special Issue J Real Estate Finan Econ (2010) 41:1–2 DOI 10.1007/s11146-010-9238-3 Piet Eichholtz & David Geltner & Seow Eng Ong Published online: 27 February 2010 Springer Science+Business Media, LLC 2010 The 2008 Maastricht-MIT-NUS property Investment Symposium was held in Maastricht at December 17–19 in Chateau St. Gerlach. In all, eight papers were selected for presentation at the conference, and after the review process four papers were accepted for publication in this special issue. In their paper “Housing Price Dynamics in Time and Space: Predictability, Liquidity and Investor Returns”, Min Hwang and John Quigley explore the predictability of housing returns at the aggregated level and at the level of the individual dwelling, using a database covering all condominium sales in Singapore over an 11 year period. For this, they estimate a repeat sales house price index in an innovative way, based on the notion that individual house prices may be predictable in time and space, but not at the aggregate level. Traditional repeat sales house price indices assume that individual house prices follow a random walk, are uncorrelated in space, and generally suggest that aggregate housing returns are predictable. Hwang and Quigley assume that individual house price errors are correlated in time http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Journal of Real Estate Finance and Economics Springer Journals

Introduction for REAL—Maastricht-MIT Special Issue

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Publisher
Springer Journals
Copyright
Copyright © 2010 by Springer Science+Business Media, LLC
Subject
Economics; Regional/Spatial Science; Financial Services
ISSN
0895-5638
eISSN
1573-045X
D.O.I.
10.1007/s11146-010-9238-3
Publisher site
See Article on Publisher Site

Abstract

J Real Estate Finan Econ (2010) 41:1–2 DOI 10.1007/s11146-010-9238-3 Piet Eichholtz & David Geltner & Seow Eng Ong Published online: 27 February 2010 Springer Science+Business Media, LLC 2010 The 2008 Maastricht-MIT-NUS property Investment Symposium was held in Maastricht at December 17–19 in Chateau St. Gerlach. In all, eight papers were selected for presentation at the conference, and after the review process four papers were accepted for publication in this special issue. In their paper “Housing Price Dynamics in Time and Space: Predictability, Liquidity and Investor Returns”, Min Hwang and John Quigley explore the predictability of housing returns at the aggregated level and at the level of the individual dwelling, using a database covering all condominium sales in Singapore over an 11 year period. For this, they estimate a repeat sales house price index in an innovative way, based on the notion that individual house prices may be predictable in time and space, but not at the aggregate level. Traditional repeat sales house price indices assume that individual house prices follow a random walk, are uncorrelated in space, and generally suggest that aggregate housing returns are predictable. Hwang and Quigley assume that individual house price errors are correlated in time

Journal

The Journal of Real Estate Finance and EconomicsSpringer Journals

Published: Feb 27, 2010

References

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