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Papers Co-Authored by Norm Miller Accepted for Publication

Two papers co-authored by Norm Miller, professor and director of academic programs at the Burnham-Moores Center for Real Estate, have been accepted for publication by two different journals. The first paper, "Idiosyncratic Volatility and the Housing Market," will be published in the "Journal of Housing Research" this summer. Miller's co-author for the paper, which looks at housing price risk, is Gurupdesh Pandher, associate professor of management at the University of British Columbia.

The second paper, "Price-Volume Correlation in the Housing Market: Causality and Co-Movements" has been accepted for publication in "The Journal of Real Estate Finance and Economics." To develop better forecast models, the paper examined whether sales volume led price movements or vice versa. Miller co-authored this paper with Liang Peng of the University of Colorado at Boulder and Jim Clayton, director of research at the Pension Real Estate Association in Hartford, Conn., and associate professor of Real Estate and Finance at the University of Cincinnati.

A third paper co-authored by Miller, "A Cross-Sectional Analysis of Cap Rates by MSA," was accepted for publication earlier this academic year by the "Journal of Real Estate Research." In this paper, the authors explored different going yields in different cities and found supply constraints were more important than growth rates. The paper was co-authored by Doina Chichernea of the University of Cincinnati, Jeff Fisher of Indiana University, Michael Sklarz of New City Corp., and Bob White of Real Capital Analytics.