Hedging Real Estate Risk

Tunaru, Radu and Fabozzi, Frank J. and Shiller, Robert (2009) Hedging Real Estate Risk. Journal of Portfolio Management, 35 (5). pp. 92-103. ISSN 0095-4918 . (The full text of this publication is not available from this repository)

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Official URL
http://dx.doi.org/10.3905/JPM.2009.35.5.092

Abstract

A number of real estate derivatives are available worldwide. The authors discuss the issues related to the pricing of these instruments and to the managing of hedging instruments over time. The property derivatives are classified by the type of real estate risk they hedge: 1) housing price risk, 2) commercial property price risk, and 3) mortgage loan portfolio amortizing risk. Given the special characteristics of the real estate asset class-an incomplete market, difficult to hedge, and reversion to a long-term trend-the authors emphasize the main points that should be taken into account when pricing property derivatives.

Item Type: Article
Additional information: Special Issue in Real-Estate
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculties > Social Sciences > Kent Business School > Accounting and Finance
Depositing User: Jennifer Knapp
Date Deposited: 19 Jul 2010 09:54
Last Modified: 10 Jun 2014 10:51
Resource URI: http://kar.kent.ac.uk/id/eprint/25097 (The current URI for this page, for reference purposes)
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