Real Estate Portfolio Diversification Using Economic Diversification

Glenn R. Mueller and Barry A. Ziering
Additional contact information
Glenn R. Mueller: Alex Brown Kleinwort Benson Realty Advisors 100 East Pratt Street, 20th Floor Baltimore, Maryland 21202, http://www.mortgagemag.com/guide/c004/c004729.htm
Barry A. Ziering: Prudential Realty Group 751 Broad Street Newark, New Jersey 07102

Journal of Real Estate Research, 1992, vol. 7, issue 4, 375-386

Abstract: Previous work on real estate portfolio diversification by location began with geographic region diversification and moved to economically defined regions (a combination of economics and geography). This work takes the next step by removing the arbitrary geographic restriction and looking at the local economic drivers of individual metropolitan areas as the key determinant for more efficient diversification. The results show that economic diversification can be a more effective diversification strategy than previously used strategies that have geographic constraints.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1992
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Citations: View citations in EconPapers (19)

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