Dr. Fred E. Foldvary

Real Estate Economics

Econ 180, Spring 2009

Dept. of Economics
San Jose State University

The syllabus

Final exam: submit by email to [email protected] by May 20 9:45 AM:
What are the two or three most interesting or important concepts you have learned in the class?
For the subject line put "Econ 180 [your name]"
The class will not meet.

The Depression of 2008

Final drafts of your papers are due May 5.
Also come to my office for your oral exam.
Read F&A chapter 19, Week 9 notes, and links to investing on class web site.

Due Tuesday April 28, problem set on cash flow.

Tuesday, March 10: answer any two questions from chapter 8 and one question from chapter 9 of the F&A book, except for any question that just asks for definitions.

Readings from Public Goods and Private Communities:
Territorial collective goods
Proprietary Communities and Community Associations
Arden and land trusts

Foldvary's Ultimate Tax Reform

Housing in Silicon Valley

pictures at a real estate exhibition
house prices
mortgage delinquencies 1
mortgage delinquencies 2

Problem sets
None yet.

video on mortgage problems

term paper

Sample regression data.

housing prices at Zillow.
at Office of Federal Housing Oversight
at Redfin
at Home gain.
at Click Home Realty.
at Domania.
at Home Value Hunt.
at Multiple listing services.
Community information Data Place

Read Estimating land values

Latest real estate news

vacancy report
S&P Case-Schiller (R) Metro Area Home Price Indices
contract details

Housing starts slow
Real estate prices fall
Homebuilder sentiment down

Lecture notes and papers

Week 1

How much rent?
Real property
Real estate market
Supply and demand

Week 2
Liens etc.
New Orleans vs. San Francisco
California Real Estate Taxes
... conference paper
How much rent

Week 3

Week 4
housing market
Henry George theorem
private communities

Week 6 real estate occupations
assessment of land value
r.e. management

Week 7 urban economics intersects real estate
a city
urban agglomorations
Jane Jacobs, cities' wealth
curb rights
urban forms
to taste
New York City land values article in pdf

Week 8 real estate finances
chapt 19 income property
cash flow
tax advantages
time value
property financing ch16

Week 8 real estate development
land use

Week 9 real estate investment
investment and speculation
active investment
More on investing

Week 10 real estate cycle
Gaffney: downturns
business cycle
change analysis
Gaffney on downturns
See also below on cycles

Land in U.S. history
Gaffney html or Gaffney pdf
on insurance
private communities
housing and affordability
Housing in Silicon Valley

on smart growth
Feder: Geo-economics

web sites

commercial real estate
S&P Case-Shiller indexes
CME commercial real estate
CME housing futures

data quick
national real estate investor
Santa Clara data
mortgage map
NAHB-Wells Fargo Housing Market Index (HMI)

On the real estate cycle

My lecture on the real estate cycle
Cycle table
Cycle by Cagan (pdf)
Institute of Supply Management new orders
The party's over?
no bubble?
housing sector index HGX
Who is bearish?
Vanguard REIT Index (VGSIX)
R.E. short fund
house prices
Dow Real Estate Index
housing starts
1991 paper
journal article on Real Estate Cycle
Perspective column
R.E. Bubble
On business cycles

Buying and selling properties

online articles
by owners.com

R.E. Investing and speculating

DFA real estate
Duke Realty Corp.
list of partnerships
Boston Capital
Equity Office Properties Trust
low income housing tax credits
Cohen and Steers mutual fund
Fidelity real estate fund
Vanguard REIT index fund
how-to articles
real estate gurus or con artists?
articles by John Reed
land developers
forested real estate
Inrealty info
about REITs

Online book Progress and Poverty by Henry George, abridged edition.

tel: campus 408/924-5407 Tuesday mornings
e-mail: [email protected]