Measuring Residential Real Estate Liquidity |
| |
| Authors: | Brian D. Kluger Norman G. Miller |
| |
| Affiliation: | Department of Finance. College of Business Administration, University of Cincinnati, Cincinnati, Ohio 45221-0195. |
| |
| Abstract: | There are many factors, other than price alone, that may affect the liquidity of real estate. This study develops a liquidity measure based on the Cox proportional hazard technique, a statistical model widely used in the epidemiologic and social sciences. The odds ratio, along with an estimate of market value for a home, are used to construct a liquidity measure. This measure can extract from the data a rich statistical profile of the variables that affect liquidity. |
| |
| Keywords: | |
|
|
