IDEAS home Printed from https://ideas.repec.org/a/bla/reesec/v15y1987i4p281-299.html
   My bibliography  Save this article

The Cyclic Behavior of the National Office Market

Author

Listed:
  • William C. Wheaton

Abstract

A review of the post WWII data on national office building construction and vacancy, reveals a recurrent ten‐twelve year cycle. Specifying and estimating a structural econometric model for these series leads to several conclusions about this commercial real estate sector. First, the office market appears to “clear” quite slowly, and long‐run expectations play an important role in market behavior. Second, supply is definitely more responsive to market conditions than demand. Finally, a six‐year forecast suggests that the current over‐supply in the market will not go away as fast as in the past.

Suggested Citation

  • William C. Wheaton, 1987. "The Cyclic Behavior of the National Office Market," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 15(4), pages 281-299, December.
    • Handle: RePEc:bla:reesec:v:15:y:1987:i:4:p:281-299
    DOI: 10.1111/1540-6229.00433
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1540-6229.00433
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1540-6229.00433?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    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:bla:reesec:v:15:y:1987:i:4:p:281-299. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/areueea.html .

    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.