Authors: Stephen Malpezzi, James D. Shilling, Yu Yun Jessie Yang

Start Page: 243
End Page: 270
Volume: 22
Issue Number: 3
Year: 2001
Publication: Journal of Real Estate Research

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.