The Influence of Socioeconomic Conditions on the U.S. Internet Office Market

Abstract

This paper focuses on the Internet as a resource in the fulfillment of companies' needs to lease or buy office space in the United States. A measure of this Internet use is introduced by two indexes that consider the companies' preferences and the office stock in states and cities. The results indicate that the Internet is utilized more for leasing than for selling office properties. Moreover, relationships are defined between the introduced indexes and local socioeconomic characteristics. Economic variables such as employment, Finance Insurance and Real Estate and high tech employment, firm size and income have significant effect on the Internet office leases and sales.