Faculty spotlight on real estate’s Daniel Broxterman

daniel_broxtermanTitle: Assistant Professor of Real Estate

Degrees: Ph.D. in Economics, George Washington University; M.A. in Economics, George Washington University; B.A. in International Relations, University of Southern California

Industry experience: Fourteen years in mortgage banking and consumer finance, from growth-phase firms to mature, Fortune 500 companies

Teaches: Real Estate (REE 3043), the survey course in real estate

Areas of research expertise: My research interests lie at the intersection of real estate and urban economics: how demand for space in cities affects the price of real estate and how rising real estate prices affect the evolution of cities. A new project on income shocks and mortgage default is my first foray into research in real estate finance and draws on my industry experience.

Practical implications of my research: My research helps explain what factors shape demand for particular locations, and that’s particularly important in understanding what determines the financial return produced by real estate when held as an investment asset.

This area interests me because: The majority of real estate value is located in cities, and cities are fascinating places. Workers in cities are more productive and innovative, but cities face daunting challenges in mitigating congestion, controlling crime and educating children. Cities are expensive places to live and work. I’m very interested in how households and firms trade off the costs and benefits of locating in cities.

Most recently published: “Why does skill intensity vary across cities? The role of housing cost” which provides an explanation of why some city populations are dramatically more educated than others: industry mix matters, but house price matters more. The article provides an economic argument that educated workers are relatively cheaper for firms to hire in cities with high costs of living than in less expensive locales.

I appreciate alumni involvement because: The real estate program at FSU stands out for the strong connections we foster among students, faculty members and professionals – especially alumni – working in the field. These connections keep me current on industry trends and open the eyes of our students to the professional opportunities accessible to them as graduates of our fine program.