Abstract

http://ssrn.com/abstract=1966058
 
 

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Inflation and Real Estate Investments


Bradford Case


National Association of Real Estate Investment Trusts®

Susan M. Wachter


University of Pennsylvania - Wharton School, Department of Real Estate

November 29, 2011

U of Penn, Inst for Law & Econ Research Paper No. 11-33

Abstract:     
This paper analyzes the inflation sensitivity of real estate investments, comparing them to other inflation-sensitive assets. The most transparent source of real estate investment returns comes from publicly traded stocks of real estate investment trusts (REITs). The authors examine the available return data, with an emphasis on their relationship to US inflation, although conclusions may apply elsewhere as well.

Number of Pages in PDF File: 23

Keywords: Property, securities, real estate investment trusts, REIT, REITs, hedge effectiveness, illiquid assets, portfolio allocation, Sharpe ratio, inflation protection, inflation sensitivity

JEL Classification: E31, G11, G21

working papers series


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Date posted: November 29, 2011 ; Last revised: May 15, 2012

Suggested Citation

Case, Bradford and Wachter, Susan M., Inflation and Real Estate Investments (November 29, 2011). U of Penn, Inst for Law & Econ Research Paper No. 11-33. Available at SSRN: http://ssrn.com/abstract=1966058 or http://dx.doi.org/10.2139/ssrn.1966058

Contact Information

Bradford Case
National Association of Real Estate Investment Trusts® ( email )
1875 I Street, NW, Suite 600
Washington, DC 20006
United States
Susan M. Wachter (Contact Author)
University of Pennsylvania - Wharton School, Department of Real Estate ( email )
The Wharton School
3620 Locust Walk
Philadelphia, PA 19104-6330
United States
215-898-6355 (Phone)

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