University Real Estate Programs and Local Real Estate Economies
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Abstract
There is considerable evidence that educational institutions provide value to the surrounding community directly and indirectly. With a potential reinvigoration of the real estate market after the problems experienced from 2005 to 2008, many post-secondary educational institutions will provide skilled and knowledgeable managers and entrepreneurs to meet community needs. But there is little research on the relationship between post-secondary real estate education and activity levels in the surrounding real estate industry. In this paper, we show that the extent of real estate programs at local colleges and universities is related to the real estate activity in the local community. More specifically, the intensity of the graduate real estate program appears to be positively related to in-county real estate activity.