IDEAS home Printed from https://ideas.repec.org/a/jre/issued/v6n31991p251-266.html
   My bibliography  Save this article

Forecasting Demand for Commercial Real Estate Based on the Economic Fundamentals of U.S. Metro Markets

Author

Abstract

The long-term demand for commercial real estate depends on the relative attractiveness of each metro market compared to all other metro areas. Economic growth models can generate reliable forecasts of commercial real estate demand, but only for the near term. To analyze and compare metro areas over the long term, forecasts based on economic development factors are needed. To support this claim, propositions and empirical tests are presented that compare the influence of regional location, industry mix, and economic development factors on the long-term employment growth rates and employment instability of U.S. metro areas.

Suggested Citation

  • Emil E. Malizia, 1991. "Forecasting Demand for Commercial Real Estate Based on the Economic Fundamentals of U.S. Metro Markets," Journal of Real Estate Research, American Real Estate Society, vol. 6(3), pages 251-266.
    • Handle: RePEc:jre:issued:v:6:n:3:1991:p:251-266
    as

    Download full text from publisher

    File URL: http://pages.jh.edu/jrer/papers/pdf/past/vol06n03/v06p251.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Attaran, Mohsen, 1986. "Industrial Diversity and Economic Performance in U.S. Areas," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 20(2), pages 44-54, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Stephen Malpezzi & James D. Shilling & Yu Yun Jessie Yang, 2001. "The Stock of Private Real Estate Capital in U.S. Metropolitan Areas," Journal of Real Estate Research, American Real Estate Society, vol. 22(3), pages 243-270.
    2. Jacco Hakfoort & Robert Lie, 1996. "Office Space per Worker: Evidence from Four European Markets," Journal of Real Estate Research, American Real Estate Society, vol. 11(2), pages 183-196.
    3. Paul Gallimore & Patrick McAllister, 2004. "Expert judgement in the Processes of Commercial Property Market Forecasting," Real Estate & Planning Working Papers rep-wp2004-11, Henley Business School, University of Reading.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Matthias Firgo & Peter Mayerhofer, 2015. "Wissens-Spillovers und regionale Entwicklung - welche strukturpolitische Ausrichtung optimiert des Wachstum?," Working Paper Reihe der AK Wien - Materialien zu Wirtschaft und Gesellschaft 144, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik.
    2. Ashley Poston & Brian E. Whitacre, 2014. "How Specialized is “Too” Specialized? Outmigration and Industry Diversification in Nonmetropolitan Counties across America," Journal of Economic Insight, Missouri Valley Economic Association, vol. 40(2), pages 37-63.
    3. Steven Deller & Philip Watson, 2016. "Spatial variations in the relationship between economic diversity and stability," Applied Economics Letters, Taylor & Francis Journals, vol. 23(7), pages 520-525, May.
    4. Florian Noseleit, 2020. "The Role of Entry and Market Selection for the Dynamics of Regional Diversity and Specialization," Regional Studies, Taylor & Francis Journals, vol. 49(1), pages 76-94, July.
    5. Smith, Stephen M. & Gibson, Cosette M., 1988. "Industrial Diversification In Nonmetropolitan Counties And Its Effect On Economic Stability," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 13(2), pages 1-9, December.
    6. Bird, Miriam & Wennberg, Karl, 2014. "Regional influences on the prevalence of family versus non-family start-ups," Journal of Business Venturing, Elsevier, vol. 29(3), pages 421-436.
    7. Tsvetkova, Alexandra, 2016. "Do diversity, creativity and localized competition promote endogenous firm formation? Evidence from a high-tech US industry," MPRA Paper 72349, University Library of Munich, Germany.
    8. Moaniba, Igam M. & Su, Hsin-Ning & Lee, Pei-Chun, 2019. "On the drivers of innovation: Does the co-evolution of technological diversification and international collaboration matter?," Technological Forecasting and Social Change, Elsevier, vol. 148(C).
    9. Benjamin H. Barton & Emily Moran, 2013. "Measuring Diversity on the Supreme Court with Biodiversity Statistics," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 10(1), pages 1-34, March.
    10. Barth, James R. & Benefield, Justin D. & Hollans, Harris, 2015. "Industry Concentration and Regional Housing Market Performance," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 45(2).
    11. Xin Mai & Roger C. K. Chan, 2020. "Detecting the intellectual pathway of resilience thinking in urban and regional studies: A critical reflection on resilience literature," Growth and Change, Wiley Blackwell, vol. 51(3), pages 876-889, September.
    12. Francisco J. Pallares & Richard V. Adkisson, 2017. "The Impact of Industrial Diversification on Employment Growth in the 50 U.S. States: 2000-2013," Economic Development Quarterly, , vol. 31(4), pages 275-284, November.
    13. Park, Jeong-Il, 2020. "Industrial diversity in building units and factors associated with diversity: A case study of the Seoul Metropolitan Area," Research Policy, Elsevier, vol. 49(5).
    14. Wallin, Tina, 2017. "An empirical study of firms’ absorptive capacity and export diversification," Working Paper Series in Economics and Institutions of Innovation 452, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    15. Xiaojing Li & Jing Chen, 2023. "Global or Local Spatial Spillovers? Industrial Diversity and Economic Resilience in the Middle Reaches of the Yangtze River Urban Agglomeration, China," Sustainability, MDPI, vol. 15(14), pages 1-17, July.
    16. Gerald A. Carlino & Robert H. DeFina & Keith Sill, 2003. "Postwar period changes in employment volatility: new evidence from state/industry panel data," Working Papers 03-18, Federal Reserve Bank of Philadelphia.
    17. Gerald A. Carlino & Robert Defina & Keith Sill, 2013. "The Long and Large Decline in State Employment Growth Volatility," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(2‐3), pages 521-534, March.
    18. Nicoló Barbieri & François Perruchas & Davide Consoli, 2020. "Specialization, Diversification, and Environmental Technology Life Cycle," Economic Geography, Taylor & Francis Journals, vol. 96(2), pages 161-186, March.
    19. Wenli Yan & Douglas A. Carr, 2013. "Federal Environmental Regulation Impacts on Local Economic Growth and Stability," Economic Development Quarterly, , vol. 27(3), pages 179-192, August.
    20. Alison Felix, 2012. "Industrial diversity, growth, and volatility in the seven states of the Tenth District," Economic Review, Federal Reserve Bank of Kansas City, vol. 97(Q IV).

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:jre:issued:v:6:n:3:1991:p:251-266. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: JRER Graduate Assistant/Webmaster (email available below). General contact details of provider: http://www.aresnet.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.