Center for Real Estate Finance
Advancing academic research in real estate finance and capital markets.
The Center for Real Estate Finance is the research engine of the Chen Institute for Global Real Estate Finance. Established in 2013, it serves as the hub for faculty-led inquiry into the financial foundations of real estate markets, spanning both the commercial and residential sectors. With a focus on methodological rigor and institutional relevance, the Center supports original research that deepens our understanding of how capital is deployed, priced, and intermediated across the built environment.
Over a Decade of Research Leadership
Faculty affiliated with the Center have contributed to leading academic journals and are recognized internationally for their work on mortgage market structure, housing affordability, credit risk, and the intersection of real estate with broader financial systems. Their research explores a range of topics, including:
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The role of housing wealth in household consumption and other behaviors
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How income risk influences mortgage product choice
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Market inefficiencies and price formation in residential real estate
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The effects of climate risk on mortgage credit and loan pricing
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Implications of GSE reform for spatial credit allocation and systemic risk
Recent publications include contributions to the Review of Financial Studies, Journal of Financial Economics, American Economic Review and Real Estate Economics, among other leading journals in finance, economics, and urban studies. For a full listing, please see the Published Papers and Working Papers pages on our website.
Bridging Research and Market Dialogue
In addition to supporting academic scholarship, the Center contributes to real-time industry dialogue. In collaboration with the Mortgage Bankers Association, the Center has co-hosted the Summer Research Conference in Real Estate Finance and Economics, a convening of heads of research from major banks, investment firms, and regulatory institutions. The event offers a forum for presenting new work, exchanging perspectives across sectors, and identifying emerging areas of inquiry with market and policy relevance.