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Regional Economic Diversification and Residential Mortgage Default Risk

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    Abstract

    Geographic diversification allows those involved in real estate markets to manage risk. In this paper we discuss the role of local economic diversification in risk management. We show that residential foreclosure rates are negatively related to local economic diversification. We conclude that geographical diversification with reference to local economic diversification is more efficient than naive geographic diversification alone.

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    File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/past/vol03n01/v03p087.pdf
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    Bibliographic Info

    Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

    Volume (Year): 3 (1988)
    Issue (Month): 1 ()
    Pages: 87-97

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    Handle: RePEc:jre:issued:v:3:n:1:1988:p:87-97

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    Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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    Web page: http://www.aresnet.org/

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    Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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    Web: http://aux.zicklin.baruch.cuny.edu/jrer/about/get.htm

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    1. Attaran, Mohsen, 1986. "Industrial Diversity and Economic Performance in U.S. Areas," The Annals of Regional Science, Springer, vol. 20(2), pages 44-54, July.
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    Cited by:
    1. Leon Shilton & Graig Stanley, 1995. "Spatial Filtering: Concentration or Dispersion of NCREIF Institutional Investment," Journal of Real Estate Research, American Real Estate Society, vol. 10(5), pages 569-582.
    2. Sam Hakim & Mahmoud Haddad, 1999. "Borrower attributes and the risk of default of conventional mortgages," Atlantic Economic Journal, International Atlantic Economic Society, vol. 27(2), pages 210-220, June.

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