Methods of thermodynamics applied to property cycles
What is it about?
The paper applies thermodynamic cycle analysis to London property markets. This allows for estimation of cycle generated space absorption and the demand for newly constructed space. It also allows for comparison among London submarkets with respect of their respective demand for newly constructed space.
Why is it important?
This work opens a new approach to how the property cycles are studies. It incorporates market shocks into the model, and allows for estimation of oversupply of space due to overheating of the market. This work breaks a new ground in the field of property cycles, and opens the door for cross-field approach to the subject.
The following have contributed to this page: Moshe Szweizer
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