AEM 7005

Urban and Real Estate Economics

Course Description

Course information provided by the Courses of Study 2023-2024.

This course explores links between urbanization and real estate markets. High downtown rents reflect the benefits of proximity to other companies and natural features like port facilities. High housing costs reflect proximity to jobs and the lure of urban amenities. At the same time, segregation and congestion are often exacerbated by urbanization, the costs of which are seen in inequality, crime, pollution, and traffic jams. Urban real estate markets are also affected by local government policy, including enforcement of property rights, zoning, tax and subsidy programs. Shrinking rust belt cities and work from home threaten to undermine urban real estate markets, while volatility and uncertainty contributes to mispricing. These and related ideas will be explored drawing on context from countries around the world.

When Offered Fall or Spring.

Permission Note Primarily for: Ph.D. students beyond the first year in the Ph.D. programs for AEM, Economics, and Regional Science, or equivalent.

Satisfies Requirement Elective.

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