The Stock of Private Real Estate Capital in U.S. Metropolitan Areas

Stephen Malpezzi (), James D. Shilling () and Yu Yun Jessie Yang ()
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James D. Shilling: University of Wisconsin, Madison, WI
Yu Yun Jessie Yang: University of Wisconsin, Madison, WI

Journal of Real Estate Research, 2001, vol. 22, issue 3, 243-270

Abstract: In this paper, we describe the construction of estimates of private real estate capital for each of 242 MSAs, annually, for 1982 through 1994. We compute three such series: (1) total private real estate capital (residential and nonresidential); (2) private single-family residential capital; and (3) private income property capital (multifamily housing plus nonresidential real estate , or (1) less (2)). We then model the determinants of each series, and use the results to predict the value of the capital stock for a larger set of 295 MSAs.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2001
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