Commercial real estate is tied to the macro conditions of the overall economy. In particular, the paper seeks to relate commercial real estate to alternative investments such as the 10-year treasury and the S&P 500 in the stock market by examining trends over the thirty-year period of 1979-2009. There will be comprehensive analysis, interpretation, and discussion of the national cap rate, the 10-year treasury, and the S&P 500 E/P ratio during the period. By analyzing past economic events and how the 10-year, S&P 500 E/P ratio, and cap rates move, the hope is to identify patterns and leading indicators to provide better insight into future events and behavior of commercial real estate and the stock market. The main intent is to provide the reader with the tools to assess the current market. In doing so, it is then possible to relate the current market with the past and with some degree of accuracy, predict where the market is headed. With such knowledge, investors can more aptly time and allocate their funds in order to maximize their returns.

The construction industry is becoming more aware of its impact on the environment. It has become more sensitive to how it operates and how it can reduce the carbon footprint of the construction process. This research identifies the source of and quantities of the carbon emissions created by an operating modular home fabrication plant in producing, transporting and installing modular structures. This study demonstrates how to measure the carbon footprint created in the production of a modular home. It quantifies and reports the results on a home, on a single module and on a per square foot basis. The primary conclusions of this study are: a) electricity was found to be the largest energy source used in this fabrication process; b) the modular fabrication process consumes a significant amount of electrical energy per month; c) production volume has a bearing on the carbon footprint of each home since the carbon footprint for each period is allocated to every home produced in that period; and d) transportation of fabricated modules and set-up add to the carbon footprint. Further, a carbon calculator was produced and is included with the study. The tool calculates the impact of energy consumption on the carbon footprint of a modular factory or a modular home. It may be expanded to other process driven fabrication entities. This research is valuable to developers and builders who wish to measure the carbon impact of a modular new home delivery system. The study also provides a methodology for modular home fabricators to measure the carbon footprint of their factories and factory production.