Real Estate Analysis: Rationalizing
the Irrational
¨Technical notes:
¨Correlations, volatilities etc
¨NOTE these could change with
a) time, and b) different time periods for the
same market-sector
¨For instance, Hong Kong residential price volatilities
for 1997-2006 and 2003-2006 are 0.35 and 0.22 respectively
based on popular indexes.
¨