Tulip mania
An update from the garden: Tulips tulips tulips
Recent Posts
Professor!
Personal news: I have been elected Grosvenor Professor of Real Estate Finance at the University of Cambridge
Franz Xaver Rektorzik
Etchings by Franz Xaver Rektorzik, printed by August Potuczek
New paper: Testing machine learning systems in real estate
How do ML-models arrive at their predictions? Do they do what we hope they do—or are corners cut?. New paper out at Real Estate Economics
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New Paper: Urban land valuation with bundled good and land residual assumptions
Paper out: This paper develops a new approach to estimate the value of urban land and indirectly tests land residual assumptions. Bonus: Value surfaces estim...
New Working Paper: “Growth and Predictability of Urban Housing Rents”
This paper studies urban rental prices for half a millennium (1500–2020) and seven cities: Amsterdam, Antwerp, Bruges, Brussels, Ghent, London, and Paris. Ba...
Spatial ML: Estimating Land Values in Phoenix (AZ)?
A neural networks that accounts for spatial correlation and time dynamics?
Are Estimates of Rapid Growth in Urban Land Values an Artifact of the Land Residual Model?
New paper out: A closer look at urban land and structure values – this is important for national accounts and for analysis of real estate risk over time. Wit...
Immobilienanlagen: Angebliches Renditewunder entzaubert / Le « miracle » de l’investissement immobilier démystifié
Summary of our total return paper in German and French.
New Publication: The Total Return To Real Estate
New research accepted for publication at the Review of Financial Studies (RFS) suggests that returns to real estate are solid but not exceptional: No sign of...
Nothing but hot air…
My previous website went down in flames (or rather: is now hosted in a black cloud).
Machine Learning, Architectural Styles and Property Values
New research accepted for publication at the Journal of Real Estate Finance and Economics: This paper couples a traditional hedonic model with architectural ...
Aesthetic Preferences for Residential Architecture: Finding Ground Truth with Machine Learning Approaches
This paper first collects binary classifications of house pictures from a large group of participants and then trains personalized ML classifiers for each pa...
Valuable Words: The Price Dynamics of Internet Domain Names
This article estimates the first constant quality price index for Internet domain names. The suggested index provides a benchmark for domain name traders and...
