USP 573 Real Estate Economics

Looks at the economics of real estate and housing, including land rent, interest rates, apartment rents, and housing prices, using an economic framework. Basic concepts in urban economics such as agglomeration, transportation costs and congestion, inequality and segregation, growth controls and sprawl, as well as amenities, externalities, and public goods are reviewed. Explores the technique most commonly used in real estate and housing economics: hedonic pricing. Explores the rationale and impact of government intervention in the private real estate market. Expected preparation: USP 515 or Fin 512.