IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

The Real Estate Portfolio of the United States House of Representatives

  • Alan J. Ziobrowski

    ()

    (Georgia State University, Atlanta, GA 30302–4020)

  • Harry McAlum

    ()

    (Macon State College, Macon, GA 31206–5144)

Registered author(s):

    This study examines the real estate investments of members of the United States House of Representatives from 1985-1995 with a focus on agency theory. The real estate holdings are characterized in terms of the number of properties owned, the reported value of the properties, property types, the property locations and transactions. We find that Representatives hold more real estate when compared to those of other U.S. investors with similar levels of income. Representatives also seem to time the market better, presumably because they understand more about the implications of the changes in tax laws they enacted. Thus the Tax Reform Act of 1986 caused House members to reduce their real estate holdings much faster than other U.S. investors. This lower level of real estate investment may also have reduced the economic linkages between Representatives and their constituents, which might affect their incentive to fight for the interests of their constituents.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL: http://pages.jh.edu/jrer/papers/pdf/past/vol24n01/05.97_116.pdf
    File Function: Full text
    Download Restriction: no

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

    Volume (Year): 24 (2002)
    Issue (Month): 1 ()
    Pages: 97-116

    as
    in new window

    Handle: RePEc:jre:issued:v:24:n:1:2002:p:97-116
    Contact details of provider: Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
    Web page: http://www.aresnet.org/
    Email:

    Order Information: Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
    Web: http://pages.jh.edu/jrer/about/get.htm Email:


    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:jre:issued:v:24:n:1:2002:p:97-116. 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)

    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 references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link 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 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.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.