REE 3043 Study Guide - Fall 2018, Comprehensive Midterm Notes - Real Estate Bubble, Cash Flow, Western Wall

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Land area: u. s. land area = 2. 3 billion acres (6% of earths land area, acre: 43,560 square feet (about size of football field, 640 acres in a square mile. Information is imperfect, and motivation of the seller is often unknown. Capital markets: channel investment capital from suppliers (individuals, institutional) to users (individuals, businesses, government, vital to functioning of economy. Include primary (new investments sold) and secondary markets (existing investments traded: ize dire(cid:272)tly proportio(cid:374)al to the size of the (cid:374)atio(cid:374)"s e(cid:272)o(cid:374)o(cid:373)y, u. , world"s largest e(cid:272)o(cid:374)o(cid:373)y has world"s largest (cid:272)apital (cid:373)arket. Increasingly interconnected in world economy: example: global credit crisis of 2007-2009 triggered by collapse of u. s. mortgage backed securities. Interaction of space, property, and capital markets are a guide for real estate developers: no new construction: Increased demand for space leads to higher rents. Kmart 2005: co(cid:373)pa(cid:374)(cid:455)"s de(cid:373)ise (cid:449)as due to failure to adapt to (cid:272)ha(cid:374)gi(cid:374)g (cid:272)o(cid:374)su(cid:373)er preferences including its location in shopping malls.

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