Photo of Joseph Gyourko

Joseph Gyourko

Martin Bucksbaum Professor of Real Estate, Finance and Business Economics & Public Policy

Research Interests: housing markets, real estate finance, urban and real estate economics

Links: CV, Personal Website

Contact Information

Address: Wharton Real Estate Dept, University of Pennsylvania, 1480 Steinberg-Dietrich Hall; 3620 Locust Walk, Philadelphia, PA 19104-6302
Email: gyourko@wharton.upenn.edu
Office: (215) 898-3003

Overview

Education

PhD, University of Chicago, 1984; AB, Duke University, 1978

Recent Consulting

Commercial real estate market analysis; housing market analysis

Academic Positions Held

Wharton: 1984-present; (Chairperson, Real Estate Department, 2007-2013; Chairperson, Real Estate Department, 1999-2003; Director, Samuel Zell and Robert Lurie Real Estate Center, 1998-present;

Professional Leadership 2005-2009

Editorial Boards: Research Associate, National Bureau of Economic Research, Public Economics Program; Co-Director, NBER Project on Housing and Financial Crisis; various journal editorial boards; World Economic Forum Global Agenda Council on the Future of Real Estate

Corporate and Public Sector Leadership 2005-2009

Trustee, Urban Land Institute; Trustee, EII Realty Securities, Inc.; Executive Committee, Philadelphia District Council of the Urban Land Institute; Trustee, Max and Marian Farash Foundation

Research


  • Fernando Ferreira, Joseph Gyourko (Working), Anatomy of the U.S. Housing Boom and Bust, 1993-2009.  Abstract
  • Joseph Gyourko, Yongheng Deng, Wu Jing (Forthcoming), Evaluating Conditions in Major Chinese Housing Markets, Regional Science and Urban Economics, forthcoming
  • Joseph Gyourko (Forthcoming), Understanding Commercial Real Estate: Just How Different from Housing Is It?, NBER Working Paper #14708, February 2009.
  • Todd Sinai, Joseph Gyourko, Christopher J Mayer (2013), Superstar Cities, American Economic Journal: Economic Policy, 5 (4), 167 - 199.    Abstract
  • Fernando Ferreira, Joseph Gyourko (Working), Does Gender Matter for Political Leadership? The Case of U.S. Mayors.  
  • Joseph Gyourko (Working), Response to HUD on FHA Risk Evaluation, November 21, 2011.  
  • Joseph Gyourko (Working), "Is FHA the Next Housing Bailout?".    Abstract
  • Fernando Ferreira, Joseph Gyourko (2009), Do Political Parties Matter? Evidence From U.S. Cities, Quarterly Journal of Economics, Vol. 124, no. 1: 399-422, 124 (1), 399 - 422.    Abstract
  • Fernando Ferreira, Joseph Gyourko, Joseph Tracy (2008), Housing Busts and Household Mobility, Journal of Urban Economics, Vol. 68. no. 1 34-35, 68 (1), 34 - 35.  Abstract
  • Edward L. Glaeser, Joseph Gyourko, Albert Saiz (2008), Housing Supply and Housing Bubbles, Journal of Urban Economics, Vol 64, no.3: 198-217, 64 (3), 198 - 217.  Abstract
  • Joseph Gyourko, Edward Glaeser (2005), Urban Decline and Durable Housing, Journal of Political Economy, Vol 113, no 2, 345-375, 113 (2), 345 - 375.    Abstract
  • Joseph Gyourko, Todd Sinai (2004), The Asset Price Incidence of Capital Gains Taxes: Evidence from the Taxpayer Relief Act of 1997 and Publicly-Traded Real Estate Firms, Journal of Public Economics, 88 (7-8), 1543 - 1565.  Abstract
  • Todd Sinai, Joseph Gyourko (2004), The (Un)Changing Geographical Distribution of Housing Tax Benefits: 1980 to 2000, Tax Policy and the Economy, 18, 175 - 208.  Abstract
  • Joseph Gyourko, Todd Sinai (2003), The Spatial Distribution of Housing-Related Ordinary Income Tax Benefits, Real Estate Economics, 31 (4), 527 - 576.  Abstract
  • Joseph Gyourko, Donald B. Keim (1993), Risks and Returns of Investing in Real Estate: Evidence from a Real Estate Stock Index, Financial Analysts Journal  
  • Joseph Gyourko, Donald B. Keim (1992), What Does the Stock Market Tell Us About Real Estate Returns, AREUEA Journal  

Awards And Honors

  • Excellence in Teaching Awardee, 2010 Description

In The News

Knowledge @ Wharton

Courses

Current

  • REAL399 - Independent Study

    All independent studies must be arranged and approved by a Real Estate department faculty member with the exception of the Seevak Research Competition.

    Seevak Student Research Seminar: This class meets in the Spring semester to analyze how to conduct research in the real estate market - where to find data; how to critique research; how to frame research questions; how to write a business research report; how to present a business research report. Topics are provided each year. For more information regarding the Seevak Competition see the Real Estate Department's website: http://real-estate.wharton.upenn.edu/

    REAL399001  ( Syllabus

  • REAL840 - Advanced Real Estate Investment and Analysis

    This course is designed for majors in Real Estate, but is also open to finance-oriented students who wish a deeper analysis of real estate investment and investment analysis issues than that offered in REAL/FNCE 209. The class will contain a mixture of lectures, guest speakers and case discussions. Academic research is paired with recent industry analysis of key issues in order to marry sound theory and empirical results with current events and practices. Several classes will include lectures outlining what economics and finance tell us about a number of topics. Generally, these will be followed by guest lectures from industry professionals who will focus on a specific application of the principles introduced in the lectures.

    REAL240401  ( Syllabus

    REAL840401  ( Syllabus

  • REAL899 - Independent Study

    All independent studies must be arranged and approved by a Real Estate Department faculty member with the exception of the Seevak Research Competition. Seevak Student Research Seminar: This class meets in the Spring s analyze how to conduct research in the real estate market, where how to critique research, how to frame research questions, how to business research report, how to present a business research repo are provided each year. For further information regarding the An Research Competition see the Real Estate department's website: http://real-estate.wharton.upenn.edu/

    REAL899001  ( Syllabus

Previous

  • REAL399 - Independent Study

    All independent studies must be arranged and approved by a Real Estate department faculty member with the exception of the Seevak Research Competition.

    Seevak Student Research Seminar: This class meets in the Spring semester to analyze how to conduct research in the real estate market - where to find data; how to critique research; how to frame research questions; how to write a business research report; how to present a business research report. Topics are provided each year. For more information regarding the Seevak Competition see the Real Estate Department's website: http://real-estate.wharton.upenn.edu/

  • REAL840 - Advanced Real Estate Investment and Analysis

    This course is designed for majors in Real Estate, but is also open to finance-oriented students who wish a deeper analysis of real estate investment and investment analysis issues than that offered in REAL/FNCE 209. The class will contain a mixture of lectures, guest speakers and case discussions. Academic research is paired with recent industry analysis of key issues in order to marry sound theory and empirical results with current events and practices. Several classes will include lectures outlining what economics and finance tell us about a number of topics. Generally, these will be followed by guest lectures from industry professionals who will focus on a specific application of the principles introduced in the lectures.

  • REAL899 - Independent Study

    All independent studies must be arranged and approved by a Real Estate Department faculty member with the exception of the Seevak Research Competition. Seevak Student Research Seminar: This class meets in the Spring s analyze how to conduct research in the real estate market, where how to critique research, how to frame research questions, how to business research report, how to present a business research repo are provided each year. For further information regarding the An Research Competition see the Real Estate department's website: http://real-estate.wharton.upenn.edu/