Handbook for Real Estate Market Analysis
by John M. Clapp. 1987. Prentice-Hall, Inc., Englewood Cliffs, NJ. 264 pp.
Noteworthy events in 1987? On January 8, the Dow Jones Industrial Average closed above 2,000 for the first time. Later, on October 19, "Black Monday" saw stock markets crash around the world. How about those apples for bookends?
A fine set of bookends deserves a fine academic text in between. In 1987, Prentice-Hall published the Handbook for Real Estate Market Analysis by Dr. John M. Clapp. An award-winning author, Professor Clapp has written several scholarly articles and books on real estate, markets, indices, and analyses.
With Handbook for Real Estate Market Analysis, Clapp brought attention at that time to the absence of published texts about the framework for analyzing real estate markets. Besides the important awareness, the author delves into practical techniques of market analysis for the real estate professional. The textbook’s content and format centers tightly around a useful flowchart of processes in market analysis.
Of course, pay attention to the author’s wisdom in Chapter 4, Measuring Potential Demand by Property Type, such that, “Human behavior is not easily reduced to simple numbers…” Changes take shape in new behaviors and new tastes. The numbers from the past are sometimes informative only about the past.
- January 2012