IDEAS home Printed from https://ideas.repec.org/a/jre/issued/v21n1-22001p21-42.html
   My bibliography  Save this article

Exploring the Dynamics of Building Supply: A Duration Model of the Development Cycle

Author

Listed:
  • Mark S. Coleman

    () (BondSpace.com Inc. Arlington, MA)

  • Ralph Gentile

    () (F.W.Dodge Lexington, MA)

Abstract

A noticeable omission in the existing body of applied real estate research is the lack of empirical analysis of the commercial development process. We address this shortcoming by utilizing a large panel database of individual building projects that in principle allows us to follow individual projects through various stages of their development life cycle. We begin by examining the basic distributional and time series characteristics of the development cycle, and then examine how these results vary by stage of construction, property sector and geography. We then estimate unconditional transition probabilities and finally, present preliminary results from a formal, nonparametric duration model.

Suggested Citation

  • Mark S. Coleman & Ralph Gentile, 2001. "Exploring the Dynamics of Building Supply: A Duration Model of the Development Cycle," Journal of Real Estate Research, American Real Estate Society, vol. 21(1/2), pages 21-42.
  • Handle: RePEc:jre:issued:v:21:n:1/2:2001:p:21-42
    as

    Download full text from publisher

    File URL: http://pages.jh.edu/jrer/papers/pdf/past/vol21n0102/03.21_42.pdf
    File Function: Full text
    Download Restriction: no

    References listed on IDEAS

    as
    1. Capozza, Dennis & Li, Yuming, 1994. "The Intensity and Timing of Investment: The Case of Land," American Economic Review, American Economic Association, vol. 84(4), pages 889-904, September.
    2. Jeffrey D. Fisher, 1992. "Integrating Research on Markets for Space and Capital†," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 20(2), pages 161-180.
    3. C. Tsuriel Somerville, 1999. "The Industrial Organization of Housing Supply: Market Activity, Land Supply and the Size of Homebuilder Firms," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 27(4), pages 669-694.
    4. John Benjamin & G. Donald Jud & Daniel T. Winkler, 1998. "The Supply Adjustment Process in Retail Space Markets," Journal of Real Estate Research, American Real Estate Society, vol. 15(3), pages 297-308.
    5. William C. Wheaton & Raymond G. Torto, 1988. "Vacancy Rates and the Future of Office Rents," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 16(4), pages 430-436.
    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. William C. Wheaton & William Eric Simonton, 2007. "The Secular and Cyclic Behavior of "True" Construction Costs," Journal of Real Estate Research, American Real Estate Society, vol. 29(1), pages 1-26.

    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:21:n:1/2:2001:p:21-42. See general information about how to correct material in RePEc.

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

    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 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.