A Random Walk Down Main Street: Can Experts Predict Returns on Commercial Real Estate?

David Ling ()

Journal of Real Estate Research, 2005, vol. 27, issue 2, 137-154

Abstract: We examine the ability of experts, specifically institutional owners and managers, to predict commercial real estate return performance in major metropolitan markets and on various property types. We find no evidence that the consensus opinions on investment conditions contained in Real Estate Research Corporation?s quarterly Real Estate Investment Survey are useful in forecasting subsequent return performance. In fact, we document that RERC?s surveys are backward looking. The implications of these findings for investors are discussed.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2005
References: Add references at CitEc
Citations: View citations in EconPapers (14)

Downloads: (external link)
http://pages.jh.edu/jrer/papers/pdf/past/vol27n02/01.137_154.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:jre:issued:v:27:n:2:2005:p:137-154

Ordering information: This journal article can be ordered from
Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
http://pages.jh.edu/jrer/about/get.htm

Access Statistics for this article

Journal of Real Estate Research is currently edited by Dr. Ko Wang

More articles in Journal of Real Estate Research from American Real Estate Society American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323.
Bibliographic data for series maintained by JRER Graduate Assistant/Webmaster ().