The Price-Adjustment Process for Rental Housing and the Natural Vacancy Rate

Kenneth T. Rosen · Lawrence Berk Smith

231 citations0/0 files storedAmerican Economic Review

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Housing Market and Economics Urban, Neighborhood, and Segregation Studies Economic theories and models

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Institute of A University of II Business and California, Economic Research Berkeley CENTER FOR REAL ESTATE AND URBAN ECONOMICS WORKING PAPER SERIES “ WORKING PAPER 82-53 THE PRICE ADJUSTMENT PRocEss FOR RENTAL HOUSING AND THE NATURAL VACANCY RATE BY KENNETH T. RosEN LAWRENCE B. SMITH These ers are preliminary in natu ; heir purpose ' to stimulate discussion comm . Therefore. t are n ted or q d in any pub’ ‘on wit the express permissi the author. GRADUATE SCHOOL OF BUSINESS ADMINISTRATION

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2004A DYNAMIC MODEL OF RESIDENTIAL SEGREGATION 2004ARE HOME PRICES THE NEXT BUBBLE 1995The persistence of real estate cycles 1988Vacancy Rates and the Future of Office Rents 1985Rental Price Adjustment and Investment in the Office Market 1989Housing vacancies, thin markets, and idiosyncratic tastes 1984Toward a Model of the Office Building Sector 1997The Cyclic Behavior of the Greater London Office Market

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