Understanding Commercial Real Estate: Just How Different from Housing Is It?

Joseph Gyourko

NBER Working Paper No. 14708
Issued in February 2009

---- Acknowledgements -----

I thank Fernando Ferreira, Ed Glaeser, Peter Linneman, Asuka Nakahara, and Raven Saks for helpful comments on an earlier draft of this paper. Andrew Moore, Chae-Ho Shin, and Yu Zuo provided excellent research assistance. I also am grateful to the Research Sponsors Program of the Zell/Lurie Real Estate Center at Wharton for its financial support. The usual caveat applies. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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