This article studies the relative volatility of commercial and residential property prices. Empirical evidence of commercial property prices being more volatile than the prices of residential property is presented. Models are built following that of Lucas. Theoretical statements are derived to show the exact conditions under which the observations arise. The cases of fixed supply and flexible supply are considered separately.
The Journal of Real Estate Finance and Economics – Springer Journals
Published: Oct 16, 2004
It’s your single place to instantly
discover and read the research
that matters to you.
Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.
All for just $49/month
Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly
Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.
All the latest content is available, no embargo periods.
“Whoa! It’s like Spotify but for academic articles.”@Phil_Robichaud