Professor Van Nieuwerburgh received the award during a ceremony at the School in late April, where he was recognized for his work on the impact that remote and hybrid work has had on the commercial real estate industry and local economy. To describe this relationship, he coined the term urban doom loop—a reference to how declining office work in New York City has led to lower commercial property values, which in turn generate less tax revenue. This lack of tax revenue eventually leads to population loss and empty storefronts, as the quality of city services declines.
Policymakers and successful real estate corporations have used Van Nieuwerburgh's research to inform their decision-making and shape regulation around housing and development. His work has also been referenced by the Biden administration and cited widely in media outlets such as CNN, The Atlantic, and The New York Times.
