by Stephen Malpezzi, Professor and Lorin and Marjorie Tiefenthaler Distinguished Chair in Real Estate
Students are filtering back, and we’re gearing up for another rocking academic year. The streets are filled with students and their friends and parents, and vans and trailers full of the necessities of another year in Madison.
Do you miss the reading lists and syllabi you used to receive each September? Well, you can get a head start at your lifelong-learning ‘semester’ by reading through the little list here at our blog where I posted the latest Top 12 “Reading for Life” entries. (Comments welcome!) But I’m writing today mainly to bring you some news.
Last year, after several turns as Department Chair, and two years as Academic Director of the Graaskamp Center, I turned the Center directorship into the more-than-capable hands of Morris Davis. I was planning to spend more time on teaching and research. But (great!) events intervened, and I stepped in as Department Chair once again last fall, when François Ortalo-Magné became our new Dean.
I’m very excited about the directions François is taking our School. School-wide initiatives that he’s spearheading focus on increasing the impact of our research on business and public policy; providing a transformational student experience through innovations in the way we teach; and providing faculty, staff, students and all of us with a “Great Platform for Great Work.” During the coming year you will learn more about these initiatives both through our blog but also the WSB’s website.
Today I’m writing to tell you more about another positive change. Recently Dean Ortalo-Magné made it official: my colleagues and I are very pleased that Professor Abdullah Yavas has accepted the chairmanship of the Department of Real Estate and Urban Land Economics.
Professor Yavas is well known among real estate academics as one of the most innovative and productive researchers in our field; several years ago we were very excited to lure him to Madison from Penn State, where he was a stalwart member of their fine faculty for 17 years. As many readers of this blog already know, Abdullah is also a faculty member of deep experience across a number of other dimensions, including administration; he’s one of only two real estate academics I know who’s served as president of a university!
I know readers of this blog will join François and me, and the rest of our faculty, in congratulating Abdullah, and thanking him for taking on this important responsibility. Check out Abdullah’s bio, if you have not already done so.
I must make a personal clarification as well. The LAST time I stepped down as Department Chair (!), I received a number of messages wishing me well in retirement. Retirement? Let me be very clear, I am NOT retiring.
I will be doing whatever I can, as so many others will, to support our School and in particular our Real Estate Program’s management team of Abdullah and Center Academic Director Morris Davis, and of course our Graaskamp Center Executive Director Mike Brennan, in the coming year and beyond. I’ll be expanding my teaching responsibilities, helping the School with the new Business Analytics initiative (including but not limited to improving our students’ Excel skills), and working to focus the efforts of Real Estate and other parts of the School and UW on some important economic development issues. Forthcoming blog posts will fill you in on some new Graaskamp Center initiatives on economic development, with an initial focus on the Midwest.
This year, in addition to teaching urban economics, I’m excited to be teaming up with Mike Hershberger to teach valuation, and with Erwan Quintin to revive our housing economics class (last taught in 2002!) As we bring these courses online this fall, we’ll be looking to make good use of the resources François and donors including real estate alum Milo Pinkerton are bringing to the teaching innovation initiatives that François mentions in the attachment.
We have plenty of other news to share, notably the fact that our newest faculty member, Assistant Professor Jaime Luque, is now on campus and preparing his first courses, in urban economics and real estate finance. You’ve probably already read about Jaime. In the ensuing months, you’ll be hearing much more from Abdullah and Morris, and Mike, and our other faculty and staff, about the state of our Program and our industry. At the School level, you’ll hear from François and his management team. Rest assured that you’ll continue to hear from me, too. After nine years of administrative responsibilities I’m looking forward to a little more time for teaching and research, but I will continue to be actively involved in all aspects of the Graaskamp Center and our real estate Program. Especially writing more postings for Wisconsin Real Estate Viewpoint!
Showing posts with label summer activities. Show all posts
Showing posts with label summer activities. Show all posts
Thursday, August 30, 2012
Wednesday, September 22, 2010
Professor Riddiough Returns from Sabbatical
The fall 2010 semester is underway, and the Graaskamp Center's busy calendar of events has already checked off a meeting with our Board of Advisors and the alumni biennial conference with the WREAA. Also busy are our faculty.
Professor and E.J. Plesko Chair of Real Estate and Urban Land Economics Tim Riddiough is back on campus after an ambitious agenda of research, presentations and discussions among the international real estate community during a year-long sabbatical. He had served previously for five years as academic director for the Center.
Among his accomplishments this past year:
Read more about Tim's activities in the September edition of our newsletter. (Join our mailing list with Constant Contact to receive our newsletter in your inbox every month!)
You can also read about the summer activities of other faculty members Stephen Malpezzi and François Ortalo-Magné in previous blog entries.
Professor and E.J. Plesko Chair of Real Estate and Urban Land Economics Tim Riddiough is back on campus after an ambitious agenda of research, presentations and discussions among the international real estate community during a year-long sabbatical. He had served previously for five years as academic director for the Center.
Among his accomplishments this past year:
- Cutting-edge research and global research connections
- Speaking opportunities
- Teaching
- Leadership in the real estate industry
Read more about Tim's activities in the September edition of our newsletter. (Join our mailing list with Constant Contact to receive our newsletter in your inbox every month!)
You can also read about the summer activities of other faculty members Stephen Malpezzi and François Ortalo-Magné in previous blog entries.
Tuesday, August 31, 2010
Reconnecting, re-energizing and readjusting
by Kris Hammargren, Senior Associate Director for the Graaskamp Center
Students are starting to arrive on campus (classes begin Thursday), full of stories about summer break. Their activities included internships or project work as well as some well-earned relaxation. But what have our faculty been doing during the summer break?
Faculty and staff of the Wisconsin Real Estate Program have a full plate of activities and responsibilities during the academic year and the summer is no different. Time away from the classroom is spent on participation in professional activities and in renewing important relationships.
I spoke with Professor and Department Chair François Ortalo-Magné about what he has been up to during the break.
Kris Hammargren: Participating in industry conferences is important for anyone who wants to stay up to date on business challenges and opportunities. What did you get out of your visit to ICSC’s RECon Global Real Estate Convention in May?
François Ortalo-Magné: I connected with Bruce Johnson, who is executive vice president and CFO of Regency Centers. Bruce allowed me to shadow him for an investment dinner and 30 meetings in two days at ICSC. It provided me with a fascinating window into the work of the CFO of a public-listed real estate company. It’s very important for me as department chair to have a grounding in the business world, to understand the practical approach of someone like Bruce, to know what it’s like for a top executive to manage his business relationships. We saw a wide cross-section of industry players, met investors, and I learned right there on the frontline great lessons that I will take back to our students.
KH: Bruce is a Wisconsin Real Estate alum who has a long history of involvement with the program. How are relationships like this important?
FOM: Relationships with our alumni are a priority for me. I enjoy connecting with former students of mine, and I love meeting with longtime alumni of Wisconsin real estate. This summer, I was happy to meet with many alumni and friends of the program at ICSC in Las Vegas and also on my travels to New York, Boston and Denver. These meetings are opportunities for me to share with them our plans for the future, get their suggestions to address our concerns, and, just as I did with Bruce, to learn about their business, their values, their successes and failures--lessons which I share with students back in Madison. I always get great feedback and ideas from our alumni. They are experts in real estate, and they share our values (or, I should say, we share their values). Most importantly for me maybe, I get a rush of energy and enthusiasm from their support. There is no greater satisfaction for a professor than to meet former students happy about where their education got them and to meet alumni who are proud of and grateful for the steps we are taking in Madison to continue enhancing the quality and the reach of the membership of the Wisconsin Real Estate Alumni Association.
KH: In addition to work in the U.S., you’ve also been active in France, working with the French government. Would you tell us more about that?
FOM: I have been advising the French government on its efforts to reform the French housing policy. It’s a great challenge: the French housing market is distorted by a multitude of policies that were designed with various non-housing objectives in mind (e.g., to stimulate the economy, to earn the votes of a number of constituencies). The ongoing budget crisis in France and a recent generational change in many government offices has provided an opportunity to clean things up. I try to help by providing “mechanical” support, helping policymakers understand how to best achieve their objectives. The main difficulty with housing lies in understanding how housing prices react to policy intervention, often to transfer the benefits of a policy away from the intended recipient (that’s RE420 or RE720 – urban economics!). Here is a concrete example: If we give young households a subsidized loan to buy their first property in the most expensive French cities while not allowing more supply to be built, we are just helping the current owners in these cities by increasing demand for their property. So subsidizing housing purchases in places where housing is expensive and supply is tight does not resolve the affordability issue that preoccupies the politician. Starting this fall, it looks like the French government may condition the availability of subsidized loans on the release of new building permits by the local authorities. That would be a step in the right direction.
KH: Thank you, François. Like you, I think we’ve all been renewed and re-energized over the summer and are ready to step-up to the new school year.
For more information on our faculty’s activities this summer, check out this previous post with Professor and Graaskamp Center Academic Director Stephen Malpezzi.
Photo by Steve Becker © Steve Becker Media
Students are starting to arrive on campus (classes begin Thursday), full of stories about summer break. Their activities included internships or project work as well as some well-earned relaxation. But what have our faculty been doing during the summer break?Faculty and staff of the Wisconsin Real Estate Program have a full plate of activities and responsibilities during the academic year and the summer is no different. Time away from the classroom is spent on participation in professional activities and in renewing important relationships.
I spoke with Professor and Department Chair François Ortalo-Magné about what he has been up to during the break.
Kris Hammargren: Participating in industry conferences is important for anyone who wants to stay up to date on business challenges and opportunities. What did you get out of your visit to ICSC’s RECon Global Real Estate Convention in May?
François Ortalo-Magné: I connected with Bruce Johnson, who is executive vice president and CFO of Regency Centers. Bruce allowed me to shadow him for an investment dinner and 30 meetings in two days at ICSC. It provided me with a fascinating window into the work of the CFO of a public-listed real estate company. It’s very important for me as department chair to have a grounding in the business world, to understand the practical approach of someone like Bruce, to know what it’s like for a top executive to manage his business relationships. We saw a wide cross-section of industry players, met investors, and I learned right there on the frontline great lessons that I will take back to our students.
KH: Bruce is a Wisconsin Real Estate alum who has a long history of involvement with the program. How are relationships like this important?
FOM: Relationships with our alumni are a priority for me. I enjoy connecting with former students of mine, and I love meeting with longtime alumni of Wisconsin real estate. This summer, I was happy to meet with many alumni and friends of the program at ICSC in Las Vegas and also on my travels to New York, Boston and Denver. These meetings are opportunities for me to share with them our plans for the future, get their suggestions to address our concerns, and, just as I did with Bruce, to learn about their business, their values, their successes and failures--lessons which I share with students back in Madison. I always get great feedback and ideas from our alumni. They are experts in real estate, and they share our values (or, I should say, we share their values). Most importantly for me maybe, I get a rush of energy and enthusiasm from their support. There is no greater satisfaction for a professor than to meet former students happy about where their education got them and to meet alumni who are proud of and grateful for the steps we are taking in Madison to continue enhancing the quality and the reach of the membership of the Wisconsin Real Estate Alumni Association.
KH: In addition to work in the U.S., you’ve also been active in France, working with the French government. Would you tell us more about that?
FOM: I have been advising the French government on its efforts to reform the French housing policy. It’s a great challenge: the French housing market is distorted by a multitude of policies that were designed with various non-housing objectives in mind (e.g., to stimulate the economy, to earn the votes of a number of constituencies). The ongoing budget crisis in France and a recent generational change in many government offices has provided an opportunity to clean things up. I try to help by providing “mechanical” support, helping policymakers understand how to best achieve their objectives. The main difficulty with housing lies in understanding how housing prices react to policy intervention, often to transfer the benefits of a policy away from the intended recipient (that’s RE420 or RE720 – urban economics!). Here is a concrete example: If we give young households a subsidized loan to buy their first property in the most expensive French cities while not allowing more supply to be built, we are just helping the current owners in these cities by increasing demand for their property. So subsidizing housing purchases in places where housing is expensive and supply is tight does not resolve the affordability issue that preoccupies the politician. Starting this fall, it looks like the French government may condition the availability of subsidized loans on the release of new building permits by the local authorities. That would be a step in the right direction.
KH: Thank you, François. Like you, I think we’ve all been renewed and re-energized over the summer and are ready to step-up to the new school year.
For more information on our faculty’s activities this summer, check out this previous post with Professor and Graaskamp Center Academic Director Stephen Malpezzi.
Photo by Steve Becker © Steve Becker Media
Wednesday, July 14, 2010
What I did on my summer vacation
What did you do during your summer vacation? For students, it’s a question asked when they go back to school in the fall. It may include internships or project work as well as some fun in the sun. But what are our faculty doing during the summer break?Wisconsin real estate faculty and staff spend some of their time at the Graaskamp Center doing the usual things they do during the school year—maintaining the website (including this blog!), tracking budgets, freshening up teaching materials and working on research. But summer is also a time to undertake some special activities that they may not have time for during the tightly scheduled fall and spring semesters.
Today we start a series in which we’ll talk to faculty members about what they are doing during their summer “vacation.” Graaskamp Center Academic Director Stephen Malpezzi just returned from two weeks in Europe, first in St. Andrews, Scotland, then in Istanbul. Steve talked about the trip with Kris Hammargren, Senior Associate Director at the Graaskamp Center.
Kris Hammargren: So you were in St. Andrews for the last week of June. Were you trying to qualify for the British Open?
Stephen Malpezzi: No, I haven’t played golf for 20 years, and that’s good for the game! St. Andrews has a dozen beautiful courses in addition to the famous old course, and I do my part by keeping them open for real golfers.
KH: OK, why were you there really?
SM: I was invited to visit the University of St. Andrews by my friend Duncan Maclennan, one of Europe’s leading housing economists. We’ve worked together off and on for the better part of three decades. [See "The Price Elasticity of Supply of New Residential Construction in the United States and the United Kingdom (with Duncan Maclennan)." Journal of Housing Economics, 10 (3), September 2001, pp. 278-306.]
KH: So what specifically does a week in St. Andrews entail?
SM: The mix is a little different each time. I made a presentation to the faculty of the Centre for Housing Research to bring them up to speed on the latest developments in U.S. housing and financial markets, including the foreclosure problem. Then, I sat down with some of the Centre’s faculty and gave them comments on some of their research, such as some new work on spatial patterns of Spanish house prices by Arnab Bhattacharjee undertaken with his colleagues Eduardo Anselmo de Castro and João Lourenço Marques. Duncan and I followed up on our participation in last year’s conference on U.K. housing policy (Building and Social Housing Foundation (BSHF) conference at St George's House in Windsor Castle and chaired by Lord Richard Best); in particular we sketched out a cooperative study of European housing supply that we think can help inform the debate on the reform of planning systems. I also had some time to program the data analysis for a new paper on U.S. housing prices I’m writing with one of the top graduates of our PhD program Yongping Liang.
KH: Sounds like you were busy!
SM: Yes, but I make time for some walks around St. Andrews too—it’s Scotland’s first university, founded in 1413, and in a beautiful town. I visited Duncan’s family in the small town of St. Monans, watched a little World Cup and enjoyed some fine local seafood. Then it was off to Istanbul.
KH: Thanks, Steve. As you can see, our faculty are busy with a number of projects this summer. We’ll talk to Steve again about his visit to Istanbul, plus some of the summer activities of other faculty members, in forthcoming posts.
Photo by Stu Smith via Flickr
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