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The Markets for Real Estate Assets and Space: A Conceptual Framework

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  • Denise DiPasquale
  • William C. Wheaton

Abstract

In this study, we present a simple analytic framework that divides the real estate market into two markets: the market for real estate space and the market for real estate assets. After describing the size and character of flows and stocks in the U.S. real estate market, we use our framework to demonstrate the important connections between the space and asset markets. We illustrate how these real estate markets are affected by the nation's macroeconomy and financial markets, tracing out the impacts resulting from various exogenous shocks on rents, asset prices, construction and the stock of real estate.

Suggested Citation

  • Denise DiPasquale & William C. Wheaton, 1992. "The Markets for Real Estate Assets and Space: A Conceptual Framework," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 20(2), pages 181-198, June.
    • Handle: RePEc:bla:reesec:v:20:y:1992:i:2:p:181-198
    DOI: 10.1111/1540-6229.00579
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