| Real estate finance in
Canada: A preamble |
This issue of the Canadian Journal of Administrative
Sciences (CJAS) comprises five papers on real estate finance in Canada.
To my knowledge, this is the first time that an academic journal has devoted
an entire issue to Canadian real estate matters. I extend my thanks to
Professor Abolhassan Jalilvand, former editor of this journal, for encouraging
me to undertake the guest editor's duties and privileges for this special
issue; Professors Iraj Fooladi and Philip Rosson, the current editors,
for their exemplary cooperation; the authors and referees for their contributions
and invaluable feedback and comments, respectively; and the Institute
of Mathematical Finance in Montreal for its financial contribution towards
the publication of the special issue.
Each paper studies a different aspect of the Canadian real estate markets.
Hence, the special issue offers a diverse picture; it is my hope that
such diversity can stimulate further research. From my short editorial
experience, it seems to me that real estate research with a Canadian
focus needs a big boost. It lags considerably behind that in the United
States. In fact, limited Canadian research output, published sparsely
and mostly in the U.S. academic journals, was one of the main reasons
behind my request to CJAS for this special issue. There is indeed a
lot to do. I invite all interested parties (researchers, universities,
research centres, and funding agencies) to put more of their intellectual
efforts and resources into research on real estate matters in Canada.
Real estate constitutes a good portion of the national wealth, is an
engine of the macroeconomic activity, and is also the major component
of most individuals' personal portfolio, so efforts to uncover knowledge
pertaining to the Canadian real estate markets are not trivial.
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