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  1. Directory
  2. Faculty
  3. Stijn Van Nieuwerburgh

Stijn Van Nieuwerburgh

Earle W. Kazis and Benjamin Schore Professor of Real Estate
Finance Division
Earle W. Kazis and Benjamin Schore Professor of Real Estate
Paul Milstein Center for Real Estate
Co-Director
Paul Milstein Center for Real Estate
Photo of Professor Stijn Van Nieuwerburgh
Areas of Expertise
Real Estate
Contact
Office: 796 Kravis
E-mail: [email protected]
Links
Personal Website
Curriculum Vitae

Stijn Van Nieuwerburgh is the Earle W. Kazis and Benjamin Schore Professor of Real Estate and Professor of Finance at Columbia University’s Graduate School of Business, which he joined in July 2018 after 15 years at New York University’s Stern School of Business. He earned his PhD in Economics (2003), MSc in Financial Mathematics (2001), and MA in Economics (2001) from Stanford University, and a B.A. in Economics from the University of Ghent, Belgium (1998).

His research lies in the intersection of real estate, asset pricing, and macroeconomics. He studies the impact of remote work on real estate valuations, affordable housing policies, mortgage market design, the impact of foreign buyers on the housing market, property price dynamics, and mortgage choice. Another recent strand of his research focuses on government debt and fiscal policy. His has published over 50 articles in peer-reviewed journals and his work is frequently covered in the media, including on 60 Minutes, the New York Times, the Wall Street Journal, the Economist, and the Financial Times.

In 2016, Van Nieuwerburgh was awarded the 15th Edition of the Bernácer Prize for his research on the transmission of shocks in the housing market on the macro-economy and the prices of financial assets. In 2020, he won the TIAA Paul Samuelson Award for research on lifelong financial security for his work on combining life and health insurance. In 2024, he was awarded the inaugural Practice Prize from Columbia Business School for his work and advocacy on post-pandemic office markets and the urban doom loop.

Professor Van Nieuwerburgh served as the President of the American Real Estate and Urban Economics Association in 2022. He currently serves as a board member of the American Finance Association. He will serve as the President of the European Finance Association in 2027. He is a Faculty Research Associate at the National Bureau of Economic Research, at the Center for European Policy Research, and at the Asian Bureau for Finance and Economics Research. He was an Editor at the Review of Financial Studies from 2016 until 2020. 

Outside academia, he serves on the board of directors of Moody’s Investor Services, Anchor Healthcare Properties, and the Belgian American Educational Foundation. 

Education
Ph.D., Economics, 2003 Stanford University; M.Sc., Financial Mathematics, 2001 Stanford University; M.A., Economics, 2001 Stanford University; B.A., Economics, 1998 University of Gent, Belgium
Joined CBS
2018

All Activities

  • Research
  • Teaching
  • Awards and Honors
  • Press
  • CaseWorks
  • Journal articles
  • Working papers
  • Articles
  • Books
  • Chapters
Journal Article
Gupta, Arpit, Vrinda Mittal, and Stijn Van Nieuwerburgh
. “Working From Home and the Office Real Estate Apocalypse.”
American Economic Review
(Forthcoming).
Explore Further about Working From Home and the Office Real Estate Apocalypse
Download PDF on Working From Home and the Office Real Estate Apocalypse
Journal Article
Jiang, Z., H. Lustig, Stijn Van Nieuwerburgh , and M. Xiaolan-Zhang
. “Measuring U.S. Fiscal Capacity using Discounted Cash Flow Analysis.”
Brookings Papers on Economic Activity
(Forthcoming).
Explore Further about Measuring U.S. Fiscal Capacity using Discounted Cash Flow Analysis
Download PDF on Measuring U.S. Fiscal Capacity using Discounted Cash Flow Analysis
Journal Article
Li, Zigang, Stijn Van Nieuwerburgh , and Wang Renxuan
. “Understanding Rationality and Disagreement in House Price Expectations.”
Review of Financial Studies
(November 17, 2023).
Explore Further about Understanding Rationality and Disagreement in House Price Expectations
Journal Article
Gupta, A., V. Mittal, J. Peeters, and Stijn Van Nieuwerburgh
. “Flattening the Curve: Pandemic-Induced Revaluation of Real Estate.”
Journal of Financial Economics
vol.
146
, no.
2
(November 01, 2022):
594
-
636
.
Explore Further about Flattening the Curve: Pandemic-Induced Revaluation of Real Estate
Journal Article
Favilukis, Jack, Pierre Mabille, and Stijn Van Nieuwerburgh
. “Affordable Housing and City Welfare.”
Review of Economic Studies
vol.
90
, no.
1
(June 05, 2022):
293
-
330
.
Explore Further about Affordable Housing and City Welfare
Download PDF on Affordable Housing and City Welfare
Journal Article
Gupta, Arpit, Constantine Kontokosta, and Stijn Van Nieuwerburgh
. “Take the Q Train: Value Capture of Public Infrastructure Projects.”
Journal of Urban Economics
vol.
129
, (May 01, 2022).
Explore Further about Take the Q Train: Value Capture of Public Infrastructure Projects
Download PDF on Take the Q Train: Value Capture of Public Infrastructure Projects
Journal Article
Elenev, Vadim, Tim Landvoigt, and Stijn Van Nieuwerburgh
. “Can the Covid Bailouts Save the Economy?”
Economic Policy
vol.
37
, no.
110
(January 19, 2022):
277
-
330
.
Explore Further about Can the Covid Bailouts Save the Economy?
Download PDF on Can the Covid Bailouts Save the Economy?
Journal Article
Gupta, Arpit and Stijn Van Nieuwerburgh
. “Valuing Private Equity Strip by Strip.”
Journal of Finance
vol.
76
, no.
7
(August 09, 2021):
3255
-
3307
.
Explore Further about Valuing Private Equity Strip by Strip
Download PDF on Valuing Private Equity Strip by Strip
Journal Article
Goetzmann, W., C. Spaenjers, and Stijn Van Nieuwerburgh
. “Real and Private Value Assets.”
Review of Financial Studies
vol.
34
, no.
9
(August 01, 2021):
3497
-
3526
.
Explore Further about Real and Private Value Assets
Download PDF on Real and Private Value Assets
Journal Article
Favilukis, Jack and Stijn Van Nieuwerburgh
. “Out-of-Town Home Buyers and City Welfare.”
Journal of Finance
vol.
76
, no.
5
(May 22, 2021):
2577
-
2638
.
Explore Further about Out-of-Town Home Buyers and City Welfare
Download PDF on Out-of-Town Home Buyers and City Welfare
Journal Article
Elenev, Vadim, Tim Landvoigt, and Stijn Van Nieuwerburgh
. “A Macroeconomic Model with Financially Constrained Producers and Intermediaries.”
Econometrica
vol.
89
, no.
3
(May 13, 2021):
1361
-
1418
.
Explore Further about A Macroeconomic Model with Financially Constrained Producers and Intermediaries
Download PDF on A Macroeconomic Model with Financially Constrained Producers and Intermediaries
Journal Article
Greenwald, Daniel, Tim Landvoigt, and Stijn Van Nieuwerburgh
. “Financial Fragility with SAMs?”
Journal of Finance
vol.
76
, no.
2
(April 01, 2021).
Explore Further about Financial Fragility with SAMs?
Download PDF on Financial Fragility with SAMs?
Journal Article
Herskovic, Bernard, Bryan Kelly, Hanno Lustig, and Stijn Van Nieuwerburgh
. “Firm Volatility in Granular Networks.”
Journal of Political Economy
vol.
128
, (November 01, 2020):
4097
-
4162
.
Explore Further about Firm Volatility in Granular Networks
Download PDF on Firm Volatility in Granular Networks
Journal Article
Karolyi, G. Andrew and Stijn Van Nieuwerburgh
. “New Methods in the Cross-Section of Stock Returns.”
Review of Financial Studies
vol.
33
, (May 01, 2020):
1879
-
1890
.
Explore Further about New Methods in the Cross-Section of Stock Returns
Journal Article
Koijen, Ralph and Stijn Van Nieuwerburgh
. “Combining Life and Health Insurance.”
Quarterly Journal of Economics
vol.
135
, (October 30, 2019):
913
-
958
.
Explore Further about Combining Life and Health Insurance
Download PDF on Combining Life and Health Insurance
Journal Article
Van Nieuwerburgh, Stijn
. “Why Are REITS Currently So Expensive?”
Real Estate Economics
vol.
47
, (February 19, 2019):
18
-
65
.
Explore Further about Why Are REITS Currently So Expensive?
Download PDF on Why Are REITS Currently So Expensive?
Journal Article
Ibert, Markus, Ron Kaniel, Stijn Van Nieuwerburgh , and Roine Vestman
. “Are Mutual Fund Managers Paid for Investment Skill?”
The Review of Financial Studies
vol.
31
, (February 01, 2018):
715
-
772
.
Explore Further about Are Mutual Fund Managers Paid for Investment Skill?
Download PDF on Are Mutual Fund Managers Paid for Investment Skill?
Journal Article
Richardson, Matthew, Stijn Van Nieuwerburgh , and Lawrence White
. “What to Do About the GSEs?”
Annual Review of Financial Economics
vol.
9
, (November 01, 2017):
21
-
41
.
Explore Further about What to Do About the GSEs?
Download PDF on What to Do About the GSEs?
Journal Article
Koijen, Ralph, Hanno Lustig, and Stijn Van Nieuwerburgh
. “The Cross-Section and Time-Series of Stock and Bond Returns.”
Journal of Monetary Economics
vol.
88
, (June 01, 2017):
50
-
69
.
Explore Further about The Cross-Section and Time-Series of Stock and Bond Returns
Download PDF on The Cross-Section and Time-Series of Stock and Bond Returns
Journal Article
Brunnermeier, Markus, Sam Langfield, Marco Pagano, Ricardo Reis, Stijn Van Nieuwerburgh , and Dimitri Vayanos
. “ESBies: Safety in the Tranches.”
Economic Policy
vol.
32
, (April 01, 2017):
175
-
219
.
Explore Further about ESBies: Safety in the Tranches
Download PDF on ESBies: Safety in the Tranches
Journal Article
Favilukis, Jack, Sydney Ludvigson, and Stijn Van Nieuwerburgh
. “The Macroeconomic Effects of Housing Wealth, Housing Finance, and Limited Risk Sharing in General Equilibrium.”
Journal of Political Economy
vol.
125
, (February 01, 2017):
140
-
223
.
Explore Further about The Macroeconomic Effects of Housing Wealth, Housing Finance, and Limited Risk Sharing in General Equilibrium
Download PDF on The Macroeconomic Effects of Housing Wealth, Housing Finance, and Limited Risk Sharing in General Equilibrium
Journal Article
Elenev, Vadim, Tim Landvoigt, and Stijn Van Nieuwerburgh
. “Phasing Out the GSEs.”
Journal of Monetary Economics
vol.
81
, (August 01, 2016):
111
-
132
.
Explore Further about Phasing Out the GSEs
Download PDF on Phasing Out the GSEs
Journal Article
Kelly, Bryan, Hanno Lustig, and Stijn Van Nieuwerburgh
. “Too-Systemic-to-Fail: What Option Markets Imply About Sector-Wide Government Guarantees.”
American Economic Review
vol.
106
, (June 01, 2016):
1278
-
1319
.
Explore Further about Too-Systemic-to-Fail: What Option Markets Imply About Sector-Wide Government Guarantees
Download PDF on Too-Systemic-to-Fail: What Option Markets Imply About Sector-Wide Government Guarantees
Journal Article
Brunnermeier, Markus, Luis Garicano, Philip Lane, Marco Pagano, Ricardo Reis, Tano Santos , David Thesmar, Stijn Van Nieuwerburgh , and Dimitri Vayanos
. “The Sovereign-Bank Diabolic Loop and ESBies.”
American Economic Review: Papers and Proceedings
vol.
106
, (May 01, 2016):
508
-
12
.
Explore Further about The Sovereign-Bank Diabolic Loop and ESBies
Download PDF on The Sovereign-Bank Diabolic Loop and ESBies
Journal Article
Koijen, Ralph, Stijn Van Nieuwerburgh , and Motohiro Yogo
. “Health and Mortality Delta: Assessing the Welfare Cost of Household Insurance Choice.”
The Journal of Finance
vol.
71
, (April 01, 2016):
957
-
1010
.
Explore Further about Health and Mortality Delta: Assessing the Welfare Cost of Household Insurance Choice
Download PDF on Health and Mortality Delta: Assessing the Welfare Cost of Household Insurance Choice
Journal Article
Kacperczyk, Marcin, Stijn Van Nieuwerburgh , and Laura Veldkamp
. “A Rational Theory of Mutual Funds Attention Allocation.”
Econometrica
vol.
84
, (March 21, 2016):
571
-
626
.
Explore Further about A Rational Theory of Mutual Funds Attention Allocation
Download PDF on A Rational Theory of Mutual Funds Attention Allocation
Journal Article
Herskovic, Bernard, Bryan Kelly, Hanno Lustig, and Stijn Van Nieuwerburgh
. “The Common Factor in Idiosyncratic Volatility: Quantitative Asset Pricing Implications.”
Journal of Financial Economics
vol.
119
, (February 01, 2016):
249
-
283
.
Explore Further about The Common Factor in Idiosyncratic Volatility: Quantitative Asset Pricing Implications
Download PDF on The Common Factor in Idiosyncratic Volatility: Quantitative Asset Pricing Implications
Journal Article
Kacperczyk, Marcin, Stijn Van Nieuwerburgh , and Laura Veldkamp
. “Time-Varying Fund Manager Skill.”
The Journal of Finance
vol.
69
, (August 01, 2014):
1455
-
1484
.
Explore Further about Time-Varying Fund Manager Skill
Download PDF on Time-Varying Fund Manager Skill
Journal Article
Acharya, Viral, Matthew Richardson, Stijn Van Nieuwerburgh , and Lawrence White
. “Guaranteed to Fail: Fannie Mae and Freddie Mac and What to Do about Them.”
The Economists' Voice
vol.
10
, (January 01, 2013):
15
-
19
.
Explore Further about Guaranteed to Fail: Fannie Mae and Freddie Mac and What to Do about Them
Download PDF on Guaranteed to Fail: Fannie Mae and Freddie Mac and What to Do about Them
Journal Article
Lustig, Hanno, Stijn Van Nieuwerburgh , and Adrien Verdelhan
. “The Wealth-Consumption Ratio.”
The Review of Asset Pricing Studies
vol.
3
, (January 01, 2013):
38
-
94
.
Explore Further about The Wealth-Consumption Ratio
Download PDF on The Wealth-Consumption Ratio
Journal Article
Koijen, Ralph and Stijn Van Nieuwerburgh
. “Predictability of Returns and Cash Flows.”
Annual Review of Financial Economics
vol.
3
, (December 01, 2011):
467
-
491
.
Explore Further about Predictability of Returns and Cash Flows
Download PDF on Predictability of Returns and Cash Flows
Journal Article
Ameriks, John, Andrew Caplin, Steven Laufer, and Stijn Van Nieuwerburgh
. “The Joy of Giving or Assisted Living? Using Strategic Surveys to Separate Public Care Aversion from Bequest Motives.”
The Journal of Finance
vol.
66
, (April 01, 2011):
519
-
561
.
Explore Further about The Joy of Giving or Assisted Living? Using Strategic Surveys to Separate Public Care Aversion from Bequest Motives
Download PDF on The Joy of Giving or Assisted Living? Using Strategic Surveys to Separate Public Care Aversion from Bequest Motives
Journal Article
Lustig, Hanno, Chad Syverson, and Stijn Van Nieuwerburgh
. “Technological Change and the Growing Inequality in Managerial Compensation.”
Journal of Financial Economics
vol.
99
, (March 01, 2011):
601
-
627
.
Explore Further about Technological Change and the Growing Inequality in Managerial Compensation
Download PDF on Technological Change and the Growing Inequality in Managerial Compensation
Journal Article
Van Nieuwerburgh, Stijn and Pierre-Olivier Weill
. “Why Has House Price Dispersion Gone up?”
The Review of Economic Studies
vol.
77
, (October 01, 2010):
1567
-
1606
.
Explore Further about Why Has House Price Dispersion Gone up?
Download PDF on Why Has House Price Dispersion Gone up?
Journal Article
Koijen, Ralph, Hanno Lustig, Stijn Van Nieuwerburgh , and Adrien Verdelhan
. “Long-Run Risk, the Wealth-Consumption Ratio, and the Temporal Pricing of Risk.”
American Economic Review: Papers and Proceedings
vol.
100
, (May 01, 2010):
552
-
556
.
Explore Further about Long-Run Risk, the Wealth-Consumption Ratio, and the Temporal Pricing of Risk
Download PDF on Long-Run Risk, the Wealth-Consumption Ratio, and the Temporal Pricing of Risk
Journal Article
Van Nieuwerburgh, Stijn and Laura Veldkamp
. “Information Acquisition and Under-Diversification.”
The Review of Economic Studies
vol.
77
, (April 01, 2010):
779
-
805
.
Explore Further about Information Acquisition and Under-Diversification
Download PDF on Information Acquisition and Under-Diversification
Journal Article
Lustig, Hanno and Stijn Van Nieuwerburgh
. “How Much Does Household Collateral Constrain Regional Risk Sharing?”
Review of Economic Dynamics
vol.
13
, (April 01, 2010):
265
-
294
.
Explore Further about How Much Does Household Collateral Constrain Regional Risk Sharing?
Download PDF on How Much Does Household Collateral Constrain Regional Risk Sharing?
Journal Article
Koijen, Ralph, Otto Van Hemert, and Stijn Van Nieuwerburgh
. “Mortgage Timing.”
Journal of Financial Economics
vol.
93
, (August 01, 2009):
292
-
324
.
Explore Further about Mortgage Timing
Download PDF on Mortgage Timing
Journal Article
Van Nieuwerburgh, Stijn and Laura Veldkamp
. “Information Immobility and the Home Bias Puzzle.”
The Journal of Finance
vol.
64
, (June 01, 2009):
1187
-
1215
.
Explore Further about Information Immobility and the Home Bias Puzzle
Download PDF on Information Immobility and the Home Bias Puzzle
Journal Article
Lustig, Hanno and Stijn Van Nieuwerburgh
. “The Returns on Human Capital: Good News on Wall Street Is Bad News on Main Street.”
The Review of Financial Studies
vol.
21
, (September 01, 2008):
2097
-
2137
.
Explore Further about The Returns on Human Capital: Good News on Wall Street Is Bad News on Main Street
Download PDF on The Returns on Human Capital: Good News on Wall Street Is Bad News on Main Street
Journal Article
Lettau, Martin and Stijn Van Nieuwerburgh
. “Reconciling the Return Predictability Evidence.”
The Review of Financial Studies
vol.
21
, (July 01, 2008):
1607
-
1652
.
Explore Further about Reconciling the Return Predictability Evidence
Download PDF on Reconciling the Return Predictability Evidence
Journal Article
Van Nieuwerburgh, Stijn and Laura Veldkamp
. “Inside Information and the Own Company Stock Puzzle.”
Journal of the European Economic Association
vol.
4
, (May 01, 2006):
623
-
633
.
Explore Further about Inside Information and the Own Company Stock Puzzle
Download PDF on Inside Information and the Own Company Stock Puzzle
Journal Article
Van Nieuwerburgh, Stijn and Laura Veldkamp
. “Learning Asymmetries in Real Business Cycles.”
Journal of Monetary Economics
vol.
53
, (May 01, 2006):
753
-
772
.
Explore Further about Learning Asymmetries in Real Business Cycles
Download PDF on Learning Asymmetries in Real Business Cycles
Journal Article
Buelens, Frans, Ludo Cuyvers, and Stijn Van Nieuwerburgh
. “Stock Market Development and Economic Growth in Belgium.”
Explorations in Economic History
vol.
43
, (January 01, 2006):
13
-
38
.
Explore Further about Stock Market Development and Economic Growth in Belgium
Download PDF on Stock Market Development and Economic Growth in Belgium
Journal Article
Lustig, Hanno and Stijn Van Nieuwerburgh
. “Housing Collateral, Consumption Insurance, and Risk Premia: An Empirical Perspective.”
The Journal of Finance
vol.
60
, (June 01, 2005):
1167
-
1219
.
Explore Further about Housing Collateral, Consumption Insurance, and Risk Premia: An Empirical Perspective
Download PDF on Housing Collateral, Consumption Insurance, and Risk Premia: An Empirical Perspective
Working Paper
Van Nieuwerburgh, Stijn, Neel Shah , and Ralph S. J. Koijen
. The Commercial Real Estate Ecosystem. February 24, 2025.
Explore Further about The Commercial Real Estate Ecosystem
Working Paper
Van Nieuwerburgh, Stijn, Sven Damen, and Matthijs Korevaar
. An Alpha in Affordable Housing? February 01, 2025.
Explore Further about An Alpha in Affordable Housing?
Working Paper
Jiang, Zhengyang, Hanno Lustig, Stijn Van Nieuwerburgh , and Mindy Xiaolan
. The U.S. Public Debt Valuation Puzzle. July 01, 2024.
Explore Further about The U.S. Public Debt Valuation Puzzle
Download PDF on The U.S. Public Debt Valuation Puzzle
Working Paper
Abramson, Boaz and Stijn Van Nieuwerburgh
. Rent Guarantee Insurance. May 02, 2024.
Explore Further about Rent Guarantee Insurance
Working Paper
Jiang, Z., H. Lustig, Stijn Van Nieuwerburgh , and M. Xiaolan-Zhang
. Fiscal Capacity: An Asset Pricing Perspective. October 01, 2022.
Explore Further about Fiscal Capacity: An Asset Pricing Perspective
Working Paper
Koijen, R., HK Lee, and Stijn Van Nieuwerburgh
. Aggregate Lapsation Risk. August 01, 2022.
Explore Further about Aggregate Lapsation Risk
Working Paper
Greenwald, D., H. Lustig, M. Leombroni, and Stijn Van Nieuwerburgh
. Financial and Total Wealth Inequality with Declining Rates. July 01, 2022.
Explore Further about Financial and Total Wealth Inequality with Declining Rates
Working Paper
Jiang, Z., H. Lustig, Stijn Van Nieuwerburgh , and M. Xiaolan-Zhang
. Bond Convenience Yields in the Eurozone Currency Union. June 09, 2022.
Explore Further about Bond Convenience Yields in the Eurozone Currency Union
Working Paper
Elenev, E., T. Landvoigt, P. Shultz, and Stijn Van Nieuwerburgh
. Can Monetary Policy Create Fiscal Capacity? June 01, 2022.
Explore Further about Can Monetary Policy Create Fiscal Capacity?
Working Paper
Jiang, Z., H. Lustig, Stijn Van Nieuwerburgh , and M. Xiaolan-Zhang
. What Drives Variation in the Debt/Output Ratio? The Dogs that Did Not Bark. May 01, 2022.
Explore Further about What Drives Variation in the Debt/Output Ratio? The Dogs that Did Not Bark
Working Paper
Chen, Z., Z. Jiang, H. Lustig, Stijn Van Nieuwerburgh , and M. Xiaolan-Zhang
. Exorbitant Privilege Gained and Lost: Fiscal Implications. May 01, 2022.
Explore Further about Exorbitant Privilege Gained and Lost: Fiscal Implications
Working Paper
Kaniel, R., M. Z. Lin, M. Pelger, and Stijn Van Nieuwerburgh
. Machine-Learning the Skill of Mutual Fund Managers. February 01, 2022.
Explore Further about Machine-Learning the Skill of Mutual Fund Managers
Working Paper
Jiang, Zhengyang, Hanno Lustig, Stijn Van Nieuwerburgh , and Mindy Xiaolan
. Quantifying Treasury Investor Optimism. January 19, 2021.
Explore Further about Quantifying Treasury Investor Optimism
Download PDF on Quantifying Treasury Investor Optimism
Working Paper
Jiang, Zhengyang, Hanno Lustig, Stijn Van Nieuwerburgh , and Mindy Xiaolan
. Manufacturing Risk-free Government Debt. August 01, 2020.
Explore Further about Manufacturing Risk-free Government Debt
Download PDF on Manufacturing Risk-free Government Debt
Working Paper
Sodini, Paolo, Roine Vestman, Stijn Van Nieuwerburgh , and Ulf von Lilienfeld-Toal
. Identifying the Benefits from Home Ownership: A Swedish Experiment. October 03, 2017.
Explore Further about Identifying the Benefits from Home Ownership: A Swedish Experiment
Download PDF on Identifying the Benefits from Home Ownership: A Swedish Experiment
Working Paper
Favilukis, Jack, Sydney Ludvigson, and Stijn Van Nieuwerburgh
. Foreign Ownership of U.S. Safe Assets: Good or Bad? February 10, 2014.
Explore Further about Foreign Ownership of U.S. Safe Assets: Good or Bad?
Download PDF on Foreign Ownership of U.S. Safe Assets: Good or Bad?
Working Paper
Lustig, Hanno and Stijn Van Nieuwerburgh
. Can Housing Collateral Explain Long-Run Swings in Asset Returns? November 05, 2007.
Explore Further about Can Housing Collateral Explain Long-Run Swings in Asset Returns?
Download PDF on Can Housing Collateral Explain Long-Run Swings in Asset Returns?
Chapter
Cooley, Thomas, Xavier Gabaix, Samuel Lee, Thomas Mertens, Vicki Morwitz , Shellene Santana, Anjolein Schmeits, Stijn Van Nieuwerburgh , and Robert Whitelaw
. “Consumer Financial Protection Regulation.” In
Regulating Wall Street: The Dodd-Frank Act and the New Architecture of Global Finance
, edited by
Viral V. Acharya, Thomas F. Cooley, Matthew P. Richardson, and Ingo Walter
,
73
-
84
.
Wiley
, 2010.
Explore Further about Consumer Financial Protection Regulation
Chapter
Cooley, Thomas, Xavier Gabaix, Vicki Morwitz , Anjolein Schmeits, and Stijn Van Nieuwerburgh
. “Consumer Finance Protection Agency: Is There a Need?” In
Real Time Solutions for Financial Reform
,
85
-
88
. 2009.
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  • Courses
  • Case Studies
Course
B8331: Real Estate Finance
View Course on Real Estate Finance
Course
B9320: (PhD) Empirical Asset Pricing II
View Course on (PhD) Empirical Asset Pricing II
Course
B8474: Real Estate Analytics
View Course on Real Estate Analytics
Course
B7331: Real Estate Finance
View Course on Real Estate Finance
Course
B9331: Empirical Asset Pricing I
View Course on Empirical Asset Pricing I
Course
B9305: (PhD) Finance Pre-Thesis Seminar
View Course on (PhD) Finance Pre-Thesis Seminar
  • Awards & Honors
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In the Media

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In the Media

Opinion: Your home insurance costs more in high-risk areas. Your mortgage should, too.

MarketWatch
In the Media

Here’s How Much Empty Office Space Is Costing Birmingham

Birmingham Business Journal
In the Media

Your Home Insurance Costs More in High-Risk Areas. Your Mortgage Should, Too.

MarketWatch
In the Media

Here's How Much Empty Office Space Is Costing Los Angeles

LA Business First
In the Media

Empty Office Space Cost Greensboro/Winston-Salem Market More Than $80M in First Half of 2024

Triad Business Journals
In the Media

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Poynter
In the Media

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PolitiFact
In the Media

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CNN
In the Media

Housing and the Election: Key Issues the Candidates Shouldn’t Ignore

Op-Ed
In the Media

City Tax Increase Looms Amid Talks between Wu and Beacon Hill Leaders

Dorchester Reporter
In the Media

In Much of Midtown’s Office Market, It’s like the Pandemic Didn’t Happen

Commercial Observer
In the Media

Thanks, Office Workers: Foot Traffic in Manhattan Nears Pre-COVID Levels, Report Says

Gothamist
In the Media

A $557 Billion Drop in Office Values Eclipses a Revival of Cities

Bloomberg
In the Media

Trump earns big from Florida golf resorts as his other businesses flag

Reuters
In the Media

This Is What Office Towers Could Look like Due to Hybrid Working

Business Insider
In the Media

Future of Urban America

Sandra Day O'Connor Institute | American Democracy
In the Media

New York City Apartment Construction Is Grinding to a Halt

Bloomberg
In the Media

Office Conversions, Easier Said Than Done

Vital City
In the Media

Where Are We on the Urban Doom Loop?,

Vital City
In the Media

FIRE Tenants Are Not Spreading as Much in Manhattan

Commerical Observer
In the Media

Businesses in D.C. Blame the Government for the District’s Empty Offices

The New York Times
In the Media

Can New York and San Francisco Escape the Urban Doom Loop?

Bloomberg
In the Media

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Lohud
In the Media

Whatever Happened to the Urban Doom Loop?

The Atlantic
In the Media

How Trump Property Seizures Will Impact New York's Real-Estate Industry

Newsweek
In the Media

It’s Hard to Imagine Who’d Want to Buy Trump’s Seized Properties

Curbed
In the Media

Gloomy Spring? Homebuyers Face Mortgage Rates of 6% after Fed Interest Rate Stays Steady.

USA Today
In the Media

Trading Halted for New York Community Bank: What Comes Next?

Commercial Observer
In the Media

Forget the ‘Doom Loop.’ America’s Downtowns Are Coming Back.

The Boston Globe
In the Media

The Federal Trade Commission and Chair Lina Khan Are Plagued by Classic Mismanagement

Fortune
In the Media

The "Prophet of Urban Doom" Says New York City Is in Major Trouble, and It’s Just the First Inning of the Ballgame: "The Cycle Is Out of Control"

Fortune
In the Media

Trump-Branded Properties Are Selling for Far Less Than Buildings That Removed His Name, Report Says

Business Insider
In the Media

In New York, the Trump Brand Is Costing Some Condo Owners

The New York Times
In the Media

'No Doom Loop Fears Here': Economists Provide Optimism for Office Market

Bisnow
In the Media

Commercial Real Estate Woes Put Regional Banks in Spotlight

Yahoo! Finance
In the Media

MTA’s Financial Troubles Deepen with $600M Hit

The Real Deal
In the Media

2024-2028 Housing Market Predictions: A Gradual Thaw with Added Challenges

U.S. News
In the Media

With Workers Gone, Downtown San Francisco in Deep Freeze

The San Francisco Examiner
In the Media

Is NYC Avoiding the So-Called 'Urban Doom Loop'?

The Brian Lehrer Show
In the Media

How Empty Office Buildings Are Setting Cities on a Doom Loop

CBS News
In the Media

Postcard from New York: The City That Never Sleeps Looks Tired

The Sydney Morning Herald
In the Media

Call off the Funeral: “Doom Loop” Prof Sees NYC Comeback

The Real Deal
In the Media

Office Buildings Haven’t Been This Empty Since (at Least) 1979—and Texas Is Taking It on the Chin the Most

Fortune
In the Media

Expert Voices 2024 | Remote Work: Its Impact on Cities

Penn IUR
In the Media

Columbia Professor Who Warned of ‘Doom Loop’ Scenario Changes Tune on NYC

New York Post
In the Media

A New Seattle City Council Offers Hope to Business and the Economy

The Seattle Times
In the Media

Commercial Real Estate Has a ‘Muted’ Outlook after a near-Death Experience in 2023, Moody’s Economist Says—and ‘Office Will Continue to Face the Most Strain’

Fortune
In the Media

"Doom Loop" Professor Says Things Are Actually Looking up for New York City

Gothamist
In the Media

Greyhound Bus Stops Are Valuable Assets. Here’s Who’s Cashing in on Them

CNN
In the Media

More Apartment Buildings in Phoenix? Developers Face Hurdles to Convert Vacant Office Space

AZ Central
In the Media

Can Office Vacancies Give Way to More Housing? 'It's a Step in the Right Direction'

USA Today
In the Media

Are Offices Really All That Empty? Real Estate Industry Data Says No

Crain's New York Business
In the Media

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The Boston Globe
In the Media

WeWork’s Demise Doesn’t Reflect the Thriving State of Co-Working

Surface
In the Media

Top Economist Who Predicted 2008 Housing Crash Says the Commercial Real Estate Bubble Is about to Burst

Fortune
In the Media

The Regional Bank Crisis Is Not Over

The Hill
In the Media

WeWork’s Bankruptcy Tests Claims of a Co-Working Revolution

The New York Times
In the Media

20% of US Offices Are Vacant. WeWork’s Bankruptcy Will Make the Problem Worse

CNN
In the Media

WeWork Bankruptcy Would Deal Another Blow to Ailing N.Y. Office Market

The New York Times
In the Media

WeWork's Inevitable Retreat Is Here

Insider
In the Media

Commercial-to-Residential Conversion: Addressing Office Vacancies

The White House
In the Media

Commercial Real Estate Risks

Goldman Sachs Exchanges
In the Media

The "Urban Doom Loop" Could be Coming to a City Near You

Washington Post
In the Media

How the "Urban Doom Loop" Could Pose the Next Economic Threat

Washington Post
In the Media

Converting Empty Offices into Apartments Is Good for the Environment, but Philly’s Buildings Make It Tough

Philadelphia Inquirer
In the Media

11% of Office Buildings Could Realistically Be Converted to Green Multifamily

GlobeSt
In the Media

WeWork Has Sent a Distress Signal. Here’s What to Know.

The New York Times
In the Media

WeWork Just Warned It Might Fail, Signaling Commercial Real Estate Is in Serious Trouble

Insider
In the Media

SL Green, Once a Recession Upstart, Navigates a New Kind of Real Estate Turmoil

Crain's New York Business
In the Media

Office-to-Resi Conversions Are Financially Feasible, but Just Barely: Report

The Real Deal
In the Media

'Zombie' Offices Could Turn into 400,000 New Apartments for Families. That's Almost Double the Number of New US Units in a Typical Year.

Insider
In the Media

Would Rent Control Solve Affordable Housing Crisis?

The Columbian
In the Media

Downtown Seattle Is Showing a Turnaround. If Only It Can Last

The Seattle Times
In the Media

Office Apocalypse

New York Magazine's "Curbed"
In the Media

A New Estimate: Office Could Lose $800B in Value by 2030

GlobeSt
In the Media

New York City Has a Zombie Building Problem

Entrepreneur
In the Media

US Commercial Real Estate Probably Won't Recover From Crisis Until 2040, Thanks to out-of-Fashion Office Buildings, Economist Says

Insider
In the Media

The Pain Is Just Starting for Commercial Real Estate - and Plunging Prices Could Reignite the Banking Crisis and Choke the US Economy, Columbia Professor Says

Insider
In the Media

Is NYC Really Doomed? Flawed Rent and Tax Forecasts Fester Wild ‘Apocalypse’ Predictions

The New York Post
In the Media

Record Amount of US Office Space Lies Empty

China Daily
In the Media

New York's Quality of Life Budget: Focus on Improving Conditions for Everyday People First

New York Daily News
In the Media

As the Office Market Craters, Support for Penn Station Plan Evaporates

The New York Times
In the Media

How Remote Work Has Affected Real Estate Values

Forbes
In the Media

The Prophet of Urban Doom Says New York Still Has a Chance

New York Times
In the Media

A Multibillion Dollar Problem Faces New York City Landlords

Bloomberg
In the Media

Research Shows Office Values Declining up to 28% Due to Work from Home

amNY
In the Media

Rents Have Dropped in Many U.S. Cities Amid the Pandemic. Here's Why Mine Won't Go Back Up

CNBC
In the Media

Life Insurers Could Help Solve America's Healthcare Shortfall

The Financial Times
In the Media

7 Things The U.S. Needs To Do To Recover From The Coronavirus Recession, According To Economists

CNBC
In the Media

Trump Administration Open To A Second Round Of Stimulus Payments. Here's What That Could Look Like

CNN Politics
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Trump Administration Open to a Second Round of Stimulus Payments. Here's What That Could Look Like

CNN
In the Media

Another Round of $1,200 Stimulus Checks? A More Targeted Plan to Get Money to Those Who Need it Most Is Better Option, Experts Say

CNBC
In the Media

Climate Change: Will the Insurance Industry Pick Up the Bill?

The Financial Times
In the Media

Real Estate Brokers Are Still Seeking Hefty Fees from NYC Tenants, Despite State Ban

Gothamist
In the Media

No City Hates Its Landlords Like Berlin Does

Bloomberg News
In the Media

Rent Control May Not Be a Lifeline for California's Renters

MarketWatch
In the Media

Evaluating Housing Affordability Policies: What Works?

The Unassuming Economist
In the Media

These States Are Turning To Rent Control: How It Affects Affordable Housing

WBUR
In the Media

Study Says Rent Control Is Good for Cities, Debunking Conventional Economists' Wisdom

Gothamist
In the Media

Still Too Damn High: How Can We Address Rising Rents?

MarketWatch
In the Media

Why You Should Buy a House in 2018

WGRZ
In the Media

Opinion: The Real Estate Industry Is at Risk. Here’s How to Soften the Blow.

Washington Post
In the Media

Commercial Real Estate’s Systemic Threat: Separating Fact From Fiction

Commercial Observer
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Could Rent Guarantee Insurance Help Solve the Housing Crisis?

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Housing and the Election: Key Issues the Candidates Shouldn’t Ignore

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Safe Haven or the Next Bubble? New Research Suggests Treasuries Are Overvalued

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How Empty Offices Are Ruining American Cities

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Commercial Real Estate: How Empty Offices Spell Trouble for Landlords

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5 Questions About Real Estate and Finance With Professor Stijn Van Nieuwerburgh

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Capitalism XXL: A Conversation with Geert Noels

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New Research Shows Prevalence of Remote Work Spurred by COVID-19 Continues to Effect Residential and Commercial Real Estate Values

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  • CaseWorks
Case ID
210303

The New York Times Building: Opportunity of a Lifetime?

In the grip of the COVID-19 pandemic, what risk factors need to be considered when bidding for an iconic piece of New York real estate that was already in distress before the virus hit?

View Case on The New York Times Building: Opportunity of a Lifetime?

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