Research and Presentations
Streaming audio of Norm Miller's Q&A session on green development, May 1 NAIOP National Forum Symposium, New York
Free excerpt of discussion (4 minutes, 39 seconds)
Complete discussion (Please note this site requires payment, and is not affiliated with the University of San Diego)
Presentations from the Jan. 22 Annual Real Estate Conference
"The Economics of Green" by Norm Miller, Jay Spivey and Andy Florance
"Top Signs the Party is SO Over" Burl East, Silver Portal Capital
"U.S. Property Markets at an Inflection Point" Mary Ludgin, Heitman
Presentation by Steve Osgood, DuPont Fabros
"Real Estate Capital Markets Overview" by Janice Sears, Bank of America Securities
"San Diego and the Commercial Real Estate Capital Markets" by Bob White, Real Capital Analytics
Live industry survey results on market conditions
Presentations from the Dec. 12 Residential Real Estate Conference: Outlook 2008
"2008 Economic Outlook" by Alan Gin, associate professor of economics, University of San Diego
"What's In Store For 2008?" by Robert Kleinhenz, California Association of Realtors
"San Diego Residential Real Estate Forecast 2008" by Professor Joan Anderson's MBA students
"Outlook 2008" by Dan Holbrook, Protivity
Live industry survey results on market conditions
Presentations from the Oct. 30 "Is It Easy Being Green?" Conference
"LEED Certification Costs Less Than You Think" by MSRE Student Trevor Jensen
Bob Barry of John Barry & Associates
Martha Krebs of The California Energy Commission
Fred Maas of Black Mountain Ranch
Matt Reid of Ryan Companies U.S. Inc.
John Wilson of BioMed Realty Trust Inc.
Burnham-Moores Center Faculty Research and Presentations
Presented Research
"The Academic Roots and Evolution of Real Estate Appraisal" by Norm Miller
"Does Green Pay Off?" by Norm Miller, Jay Spivey and Andy Florance
"The Economic Impact of Housing Price Changes: A Panel VAR Approach" by Norm Miller and Liang Peng
"Housing Affordability in the Context of Mised-Use Development" by Norm Miller
"Housing Prices and Economic Growth" by Norm Miller
"Idiosyncratic Volatility and the Housing Market" by Norm Miller and Gurupdesh Pandher
"Price-volume Correlation in the Housing Market: Causality and Co-Movements" by Norm Miller
Published Research
Books
Commercial Real Estate Career Education and Research Guide, North Palm Beach, FL: Hoyt Institute for Real Estate, 2006.
Commercial Real Estate Analysis and Investment 2nd Ed., Mason, OH: Thomson South-Western, 2007, with D. Geltner, P. Eicholtz, J. Clayton.
Real Estate Principles for the New Economy, Mason, OH: Thomson South-Western, 2005, with D. Geltner.
Articles
“Risk and Return in the U.S. Housing Market: A Cross-Sectional Asset-Pricing Approach ” with S. Cannon and G.S. Pandher, Real Estate Economics, Winter, Vol. 34, No. 4, 2006, pp. 519-552.
“Exploring Metropolitan Housing Price Volatility” with L. Peng, Journal of Real Estate and Financial Economics, Vol. 33: pp. 5-18, 2006.
“The Impact of Interest Rates and Employment on Housing Prices” with M. Sklarz and T. Thibodeau, International Real Estate Review, Vol. 8, No. 1, 2005, pp. 26-42.
“Estimating User Costs and Rates of Return for Single-Family Residential Real Estate” with W. Derieux and J. Benjamin, Journal of Real Estate Practice and Education, Vol. 8, No. 1, 2005, pp. 1-24.
“The Land Residual Theory and the Absence of Business Value for Real Estate as an Operating Business,” Journal of Property Tax Assessment and Administration, Vol. 1, No. 4, 2004, pp. 29-36.
“The 9/11 Impact on Trophy and Tall Office Property ” with S. Markosyan, A. Florance, B. Stevenson and H. Opt Veld, Journal of Real Estate Portfolio Management, Vol. 9, No. 2, 2003, pp. 107-126
“The Academic Roots and Evolution of Real Estate Appraisal” with S. Markosyan, The Appraisal Journal, Vol. LXXI, No. 2, April 2003, pp. 172-184.
“International Residential Real Estate Brokerage Fees and Implications for the U.S. Brokerage Industry” with N. Delcoure, International Real Estate Review, Vol. 5, No. 1, Winter 2002.
“How Do U.S. Residential Brokerage Trends and Fees Compare to the Rest of the World?” with N. Delcoure, Real Estate Issues, Vol. 26, No. 3, 2001.
“Retail Leasing in a Web Enabled World,” Journal of Real Estate Portfolio Management, American Real Estate Society, Vol 6, no. 2, 2000.
“Ethics as Culturally and Economically Derived” edited by S.E. Roulac, Journal of Real Estate Research, special issue titled “Ethics in Real Estate” published as “Research Issues in Real Estate,” Vol. 5, 1999, pp. 153-162.
“Ethical Codes of Conduct for Business Simplified” edited by S.E. Roulac, Journal of Real Estate Research, special issue titled “Ethics in Real Estate” published as “Research Issues in Real Estate,” Vol. 5, 1999, pp. 247-256.
“Research on Leases” with C.F. Sirmans, Real Estate Finance, Vol. 14, No. 1, Spring 1997.
“Web Resources and Implications for Real Estate Finance,” Real Estate Finance, Vol. 13, No. 3, 1996.
“Telecommunications Technology and Real Estate: Some Additional Perspectives,” Real Estate Finance, Vol. 13, No. 2, 1996.
“In Defense of the Land Residual Theory and the Absence of a Business Value Component for Retail Properties” with S. Jones and S.E. Roulac, Journal of Real Estate Research, Vol. 10, No. 2, 1995.
“We Need a Fourth Asset Class: HEITs” with D. Geltner and J. Snavely, Real Estate Finance, Vol. 12, No. 2, 1995.
“Residential Mortgage Choice: Does the Supply Side Matter?” with T. Riddiough and S. Jones, Journal of Housing Economics, Vol. 4, 1995, pp. 71-90.
“A Note on the Integration of the Global Capital Markets” with M. Skill, Real Estate Finance, Vol. 11, No. 4, Winter, 1995.
“The Parking Lot as a Unique Investment Class: An Option That Pays Dividends” with D. Geltner and B. Brown, Real Estate Finance, Vol. 11, No. 3, Fall, 1994.
“Incentive Commissions in Residential Real Estate Brokerage” with D. Geltner and B. Kluger, The Journal of Housing Economics, Vol. 2, No. 2., June 1992.
“Optimal Price and Selling Effort from the Perspectives of the Broker and Seller,” with B. Kluger and D. Geltner, The AREUEA Journal (now Real Estate Economics), Vol. 19, No. 1, Spring 1991.
“Measuring Residential Real Estate Liquidity” with B. Kluger, The AREUEA Journal (now Real Estate Economics), Vol. 18, No. 2, Summer 1990.
“Leading Indicators of Real Estate Price Trends,” with M. Sklarz, Spring, 1989 Special Proceedings Series on “Forecasting Market Determinants Affecting Cash Flows and Reversions,” American Institute of Real Estate Appraisers, Report No. 4.
“A Comment on Tax Rates and Implicit Rates of Return on Owner-Occupied Single-Family Housing: Comment,” The Journal of Real Estate Research, Vol. 4, No. 1, Spring 1989.
“Japanese Purchases, Exchange Rates and Speculation in Real Estate Markets” with M. Sklarz and N. Ordway, Journal of Real Estate Research, Vol. 3, No. 3, Fall 1988.
“The Value of a Real Estate Brokerage Firm,” monograph for Economics and Research Division, National Association of Realtors, 1989, National Association of Realtors, Washington, D.C., with J. Keaton and Glenn Crellin.
“It’s Time for Some Options in Real Estate” with M. Sklarz, Real Estate Securities Journal, Vol. 9, November 1, 1988.
“Forecasting Using Long Order Autoregressive Processes: An Example Using Starts” with W. Gersch and M. Sklarz, The AREUEA Journal (now Real Estate Economics), Vol. 15, No. 4, Winter, 1987.
“Pricing Strategies and Residential Property Selling Prices,” with M. Sklarz, The Journal of Real Estate Research, Vol. 2, No. 1, Fall 1987.
“A New Market-Based Condominium Valuation Model” with M. Sklarz, The Appraisal Journal, July 1987.
“Automated Homebuilding in Japan: Are Japanese Methods Exportable to the United States?” with J. Kautz, Urban Land, June 1987.
“A Note on Leading Indicators of Housing Market Price Trends,” with M. Sklarz, The Journal of Real Estate Research, Fall 1986.
“Multiple Regression Condominium Valuation with a Touch of Behavioral Theory,” with M. Sklarz. The Appraisal Journal, January 1987.
“Long Range Cash Flow Planning: A Total Systems Approach,” The Journal of Real Estate Development, Vol. 1, No. 4, Spring 1986.
“Using A Real Discount Rate Model is Better Than Predicting Inflation,” with M.E. Solt The Appraisal Journal, April 1986.
“Managerial Incentives: Implications for the Financial Performance of Real Estate Investment Trusts,” with M. Solt, The AREUEA Journal (now Real Estate Economics), Winter 1985.
“The Determination of Compensatory Damages: A Valuation Framework,” with J. Bagby and M. Solt, The American Business Law Journal, Spring 1984.
“Optimizing Limited Partnership Returns Through Tax Minimization Modeling: ACRS Effects and Theoretical Reconciliations,” Real Estate Research Annual, Vol. 3, l983.
“Residential Property Hedonic Pricing Models: Limits and Extensions,” Real Estate Research Annual, Vol. 2, 1982.
“A Note on the Differentiation of Market Participants by Search Costs,” with P. Rice, Journal of Economic Letters, Fall l98l.
“Real Estate Multiple Listing Services: A Reply to Malin,” American Business Law Journal, Fall 1980.
“Do Antitrust Laws Apply to the Real Estate Brokerage Industry?” with P. J. Shedd, The American Business Law Journal, Fall l979.
“Optimizing the Distribution of Limited Partnership Returns,” The AREUEA Journal (now Real Estate Economics), Fall 1979.
“Time on the Market and Selling Price,” The AREUEA Journal (now Real Estate Economics), Summer l978.
Books
MBA Commercial Real Estate/Multifamily Finance Technology Survey, Washington, D.C.: Mortgage Bankers Association of America, 2005, with D.P. Szparaga.
Valuing the New Urbanism: A Report on the Impact of the New Urbanism on Single-Family Home Prices, Washington, D.C.: Urban Land Institute, 1999, with M.J. Eppli.
Articles
“Historic Designation and Residential Property Values” with A. Narwold and J. Sandy, International Real Estate Review, forthcoming.
“The Stock Return Difference between Industrial REITs and Manufacturing Firms: The Space Supply and Demand Effect” with H. Cheng and L.C. Mejia, Journal of Real Estate Portfolio Management, Vol. 12, No. 3, 2006, pp. 249-259.
“An Event Study Analysis of Mall Renovation and Expansion” with M.J. Eppli, Journal of Shopping Center Research, Vol. 12, No. 2, 2005, pp. 117-130.
“Who Bears the Balloon Risk in Commercial Mortgage-Backed Securities?” with M.J. Eppli, Journal of Portfolio Management, Vol. 32, 2005, pp. 114-123.
“How Does a New Sports Stadium Affect Real Estate Values? The Case of FedEx Field,” Land Economics, Vol. 81, No. 3, 2005, 379-395.
“Real Estate Markets in the United States” with M.J. Eppli, H. How, P. Kent and W. Seabrooke, International Real Estate: An Institutional Approach, 2004.
“Term Default, Balloon Risk, and Credit Risk in Commercial Mortgages” with M.J. Eppli, Journal of Fixed Income, Vol. 13, No. 3, 2003, pp. 42-52.
“Extension Risk in Commercial Mortgages” with M.J. Eppli, Real Estate Finance, Vol. 18, No. 4, 2002, pp. 53-63.
“An Empirical Examination of Traditional Neighborhood Development” with M.J. Eppli, Real Estate Economics, Vol. 29, No. 3, 2001, pp. 485-501.
“Valuing the New Urbanism: the Case of Kentlands” with M.J. Eppli, Real Estate Economics,Vol. 27, No. 3, 1999, pp. 425-451.
Articles
“A Study into the Important Elements of a Master's Degree in Real Estate” with E.M. Worzala, Journal of Real Estate Practice and Education, Vol. 7, No. 1, 2004, pp. 25-42.