If the owner of a piece of land hires a developer to construct a building, the project's timing may hinge on the developer's own motives. How can the owner design a contract that aligns the interests of both parties?
Why did subprime mortgage borrowers make the choices they did? In her new book, The Art of Choosing, Professor Sheena Iyengar examines how we make choices.
From the Archive: A skewed sex ratio is fueling a highly competitive marriage market, driving up China’s savings rate and with it the global trade imbalance.
Foreclosure estimates are high, but Professor Eric Johnson says that fewer people will walk away from their homes than we might think. Why?
High Line visionaries, architects, developers and city planners gathered for a panel discussion on October 13 about the 75-year-old elevated railroad that reinvigorated West Chelsea.
Should the government out the home lenders that it says isn't doing enough to help homeowners? Senior Vice Dean Chris Mayer shares his thoughts.
An easy-to-implement policy allows firms to determine the effect of future financing and performance milestones on pricing decisions, even when firms face uncertain market conditions.
Chris Mayer talks about housing market fundamentals, the U.S. housing boom and the surprising results of his recent study of U.S. house prices.
Noting that seller behavior doesn't always conform to standard economic theory, Chris Mayer explains why housing markets tend to function poorly in a down economy.
Lynne Sagalyn, director of the School’s Paul Milstein Center for Real Estate, lays out the benefits and challenges facing the private and public sectors when they team up to undertake large-scale development and infrastructure projects.
New research suggests that the effectiveness of the Home Affordable Mortgage Program was severely limited by loan servicers’ low capacity to negotiate modifications.
"It is one thing to know about real estate and know about companies but another to have teachers who can make the connections for you," says Robert Klein '04. Keep reading this alumni profile.
A new orientation lecture about the financial crisis was created this year to give students an overview of the causes and key issues of the crisis.
Morgan Stanley's bribery scandal in China is by no means an isolated event.
Simple mortgage modification programs may encourage a high rate of strategic default for those whose homes aren’t at risk of foreclosure.
How misaligned incentives between brokers, banks and borrowers encouraged widespread falsification on mortgage applications.
As Washington weighs action to stabilize the housing market, a new proposal for stemming the tide of foreclosures from Professors Chris Mayer and Tomasz Piskorski of the Business School and Edward Morrison of Columbia Law School is gaining currency. The key, they argue, is to align the financial incentives of all stakeholders to modify loans that homeowners cannot afford and remove legal barriers that deter servicers from seeking loan modifications.
A combination of an incentive fee program with a legislative initiative to modify servicing agreements can help reduce the number of foreclosures.
Economic indicators are all around us, from the number of empty store fronts to the volatility index for the stock market.
Why are the homeowners who can most benefit from strategic default on underwater mortgages the least likely to choose it?
Sam Zell recently spoke about the economy and the real estate market as part of the Silfen Leadership Series. What investment opportunities does he see in the future?
The combination of financial innovation and a liquidity burst is a classic element of an asset bubble, Professor Frederic Mishkin told students at a recent economic forum.
As high salaries soar even higher, housing prices in the most attractive cities have tested their limits.
New research using Megan’s Laws data confirms that property values decline when sex offenders move into a neighborhood — and points to how much it's worth spending on policies that prevent violent crime.
Prof. Chris Mayer calls homeownership its own kind of social safety net, since in a stable value economy, homeowners can save for retirement just by living in their home.
Prof. Chris Mayer says that state–run housing finance agencies can offer opportunities for innovation and a responsible path to homeownership.
At the panel “Uncharted Waters— Navigating Today’s Debt Markets,” experts from several major firms discussed debt investment products and opportunities.
For the third consecutive year, Columbia Business School placed in the top three at the invitation-only UNC Real Estate Development Challenge. Ashley McDonald ’15, Matthew Nunn ’14, Atif Z. Qadir ’14, and Daniel Wagman ’15 of team “Sustained Growth Properties” finished third at the competition on February 20-21 in Chapel Hill, North Carolina.
Prof. Shang–Jin Wei, director of the Jerome A. Chazen Institute of International Business, explains why a crash in the Chinese housing market won’t spell disaster for the global economy.
Although student loan debt and the stagnant job market have pushed back the age at which people become homeowners, according to Prof. Chris Mayer, a renter society is still a long way off.
As part of its first-ever student academic paper competition, the Commercial Real Estate Finance Council (CREFC) recognized two Columbia students for their writing.
For the second year in a row, a Columbia Business School student was awarded the YMWREA David Winoker Scholarship. Karl Chan ’15, an officer within the school’s Real Estate Association, was named the 2013-14 scholarship recipient, which recognizes personal and professional success and charitable or community service involvement.
Adjunct Professor Alicia Glen, who started the Social Impact Real Estate Investing and Development class, was tapped by incoming Mayor Bill de Blasio to be deputy mayor for housing and economic development.
Prof. Mayer says that while the government’s Home Affordable Refinance Program has finally hit its stride, the government did “too little too slowly” to prevent foreclosures.
The panel “Is the Sky the Limit? NYC Real Estate Pricing Keeps Climbing” discussed recent trends in the local real estate market and whether continued appreciation is likely.
The panel “What Are Real Estate Investors Looking For?” framed investor needs against discussions of market and economic trends.