|
 | |
|
April 2005
Wharton News
The Cost of Regulation
In an article, "Housing prices up, but not because of construction costs," in the Press of Atlantic City (3/19/05), writer Michael B. Baker cited a study conducted by Joseph Gyourko, Director of the Zell/Lurie Real Estate Center, and Edward L. Glaeser and Raven E. Saks of Harvard University. The study, "Why Have Housing Prices Gone Up?" concludes that while actual construction costs have gone down since 1970, extensive regulations have made the building process much more expensive.
Saiz on Immigration
Albert Saiz, Assistant Professor of Real Estate, was invited by the University of Connecticut and the Queens School of Business to present his paper, "Immigration and the Neighborhood."
Wachter Testifies Before U.S. Senate
Wharton Professor of Real Estate, Susan Wachter, testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs on February 10, 2005 on the role of Fannie Mae and Freddie Mac in the mortgage market.
Gyourko to Speak to CREW Philadelphia
Joseph Gyourko has been invited to a luncheon meeting of CREW (Commercial Real Estate Women) Philadelphia at the Union League on April 28. He will review and discuss his latest publication, "Looking Back to Look Forward: What Can We Learn about Urban Development from Philadelphia's 350-Year History?"
Housing Subsidies - Hoek-Smit Advises Mexican Government
Drs. Marja Hoek-Smit conducted a workshop on Mexico's Housing Finance and Subsidy Policy for senior officials of the Federal Government of Mexico. The workshop was funded by the World Bank on March 30, 2005. The outcome was a set of agreements on short- and medium-term changes to make the national subsidy policy more coherent and improve the leveraging of household, private sector and local government inputs.
Penn/Design Alumni Host Lynn Sagalyn
Professor Lynne Sagalyn met with the Penn/Design Alumni Club in New York City on March 2. She spoke on "Planning and Development in New York, Today."
Linneman Quoted on Mexican Housing
In "A Real Estate Boomlet in Latin America," posted on Knowledge @ Wharton, Professor Peter Linneman was quoted on the affordable housing building boom from Tijuana to Mexico's southern states. He said that with about 50 million people in the region falling below the poverty line, homebuilding is "an endless business. Homebuilding is largely manufacturing, not real estate, to the extent that you can churn out homes."
Wharton West Welcomes Peter Linneman
Peter Linneman was invited to speak in San Francisco at an event co-hosted by Wharton/Penn Real Estate Group of Northern California (WPRE), Wharton Private Equity Network and the Wharton Club of Northern California. He spoke on "A Look at the Intersection of the Economy and Real Estate Markets."
Wachter on Condominiums and Expectations in the Housing Market
Professor Susan Wachter was cited in The Wall Street Journal (3/22) "People have formed expectations for future price increases based on past price increases. Their expectations may not play out the way they thought they would," according to Wachter. "They may in fact be buying at the top of the market." She was also quoted in Forbes Magazine (2/18) regarding the most expensive condominiums in America, "It's a perfect combination of events leading to a strong condominium market today in the U.S.," said Wachter.
|
|
