Property Values and the Future of Cities

Christopher Mayer (Co-Director, Paul Milstein Center for Real Estate, Columbia Business School) sits down with Richard Green (Director, USC Lusk Center for Real Estate) to deliver a presentation detailing how real estate valuation is changing, especially in relation to the economy as a whole, and what the near and long-term future of cities may be. Though there is much to be concerned about regarding rent collections and mortgages, Mayer points out that the key to real estate valuation is estimating the new price level at the end of the recession. Mayer sees that larger cities will face big challenges, but large companies and young workers seem to be betting on the cultural payoff of urban density.