Subtopic
Real Estate
10 lessons to explore at your own pace.
Lessons in Real Estate
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Self-paced lesson · ~13 min read
Real Estate Economics: Rents, Prices, and the Four-Quadrant Model
A building does two jobs: it gives someone a place to live or work, and it gives its owner an asset that can earn income. Real estate economics connects those jobs. Tenants compete for…
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Self-paced lesson · ~16 min read
The Urban Land Market: Location, Rents, and Prices
Why does a home near the city centre cost more than an otherwise identical home farther away? One explanation is that the central home saves its resident time and money on travel. Urban…
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Self-paced lesson · ~14 min read
The Urban Housing Market: Structures, Attributes, and Density
A developer owns one piece of land. Should it hold a few spacious homes or a taller building with many smaller apartments? Buyers may pay more for space and privacy, but land is scarce…
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Self-paced lesson · ~13 min read
Firm Site Selection and Industrial Land Use
A barber, a factory, and a warehouse can all employ local residents, yet choose very different sites. The barber needs customers to reach the shop. The factory needs workers and supplies…
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Self-paced lesson · ~12 min read
Employment Decentralization and Edge Cities
If suburban land is cheaper and workers already live nearby, why would a firm pay to stay downtown? And if leaving downtown saves money, why do firms build suburban clusters rather than…
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Self-paced lesson · ~15 min read
Retail Location and Market Competition
Why is there a small grocery shop near your home but a large shopping centre farther away? Why do competing clothing shops gather in one mall? And why might its largest tenant pay less…
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Self-paced lesson · ~13 min read
Local Governments, Property Taxes, and Real Estate
A home comes with more than walls and a location. Buying it also buys access to local services and a responsibility to help pay for them. A good school system can make a home more…
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Self-paced lesson · ~15 min read
Public Goods, Externalities, Development, and Regulations
A developer can earn more by adding another floor while making neighbouring homes darker. A neighbourhood can value a park more than its purchase price while no resident wants to pay for…
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Self-paced lesson · ~15 min read
Housing Markets: Turnover, Prices, User Cost, and Supply
A city can gain very few new households while millions of existing households move, buy, sell, or change tenure. A house can also become more expensive to purchase while appearing…
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Self-paced lesson · ~14 min read
Commercial Markets: Absorption, Leases, Offices, Industrial, Retail, and Hotels
A full office building, a busy warehouse, and a sold-out hotel all use space, but their demand drivers and adjustment speeds differ. An office tenant may commit for years; a hotel sells…