[{"@context":"http:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/wiki.edu.vn\/en\/wiki24\/susan-m-wachter-wikipedia\/#BlogPosting","mainEntityOfPage":"https:\/\/wiki.edu.vn\/en\/wiki24\/susan-m-wachter-wikipedia\/","headline":"Susan M. Wachter – Wikipedia","name":"Susan M. Wachter – Wikipedia","description":"before-content-x4 From Wikipedia, the free encyclopedia after-content-x4 Susan M. 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Wachter is the Albert Sussman Professor of Real Estate, and Professor of Finance at The Wharton School of the University of Pennsylvania, the Director for the Wharton GeoSpatial Initiative and Lab, and the co-director of the Penn Institute for Urban Research. She also co-directs the Spatial Integration Laboratory for Urban Systems at the University of Pennsylvania.[1][2] As an economist, she is frequently sought for comment on real estate market trends in well known media outlets\u2014a recent interview with the International Monetary Fund summarizes her views and research.[3][4][5][6]  Wachter is noted for developing a model that explains why real estate is subject to booms and busts.[7] The model is based on the inability to short sell homes and real estate more generally.[8] Wachter’s model incorporates banks’ mortgage lending based on market comparables, which can be disconnected from market fundamentals. Because financial entities compete for market share by undermining lending standards procyclically, thereby creating a systemic risk externality, Wachter’s additional work points to the need for what has become known as macro prudential policy and specifically the regulation of the government-sponsored enterprises as utilities.[9]       (adsbygoogle = window.adsbygoogle || []).push({});after-content-x4Wachter helped to found Wharton’s Real Estate Department with the goal of using economic models, including finance and urban economics, to improve the understanding of how real estate markets work. She is also known for her early work on redlining[10][11] and for her work on the impact of lending constraints on homeownership.[12]Table of ContentsAppointments[edit]Selected works[edit]Books[edit]Selected edited books[edit]Selected book chapters[edit]Articles[edit]References[edit]External links[edit]Appointments[edit]Wachter was appointed the Assistant Secretary for Policy Development and Research with the United States Department of Housing and Urban Development (1998-2001).[13][14] She currently serves on the Financial Research Advisory Committee for the Office of Financial Research, a sub-department of the U.S. Department of the Treasury (2016).[15] Wachter was Celia Moh Visiting Professor at Singapore Management University (2004).[16] She serves on the Board of Editors for various publications including the Journal of Housing Economics, the Housing Policy Debate, the Journal of Real Estate and Finance, and the Journal of Real Estate Research. Wachter is the co-editor, with Eugenie L. Birch, of the Social Science Research Network Urban Research eJournal.[17] On November 13, 2020, Wachter was appointed to the Advisory Committee of the Bureau of Economic Analysis to advise on current issues in housing and finance.       (adsbygoogle = window.adsbygoogle || []).push({});after-content-x4She has been President of the American Real Estate and Urban Economics Association (1988-1989).[18] Wachter has also served on the Global Urban Development Advisory Board, the National Research Council Review and on HUD Research (2008), the Advisory Board for Regulatory Research with the National Association of Homebuilders (2005-2006), the Board of Directors for the American Real Estate and Urban Economics Association (2003-2006), and the Blue Ribbon Committee on Housing Finance (2005-2006).[1][19] From 1998-2001 she served on the White House Interagency Taskforce for E-Government and the White House Interagency Taskforce on Liveable Cities.[2] From 1969 to 1972, she was a Lecturer in the Department of Economics at Bryn Mawr College.[20]Wachter is a recipient of the Anvil Award for Teaching Excellence, the Lindback Award for Distinguished Teaching at the University of Pennsylvania, the American Real Estate and Urban Economics Best International Paper Award, and the American Real Estate and Urban Economics Lifetime Achievement Award.[21]Wachter is the 2022 recipient of the John M. Quigley Medal for Advancing Real Estate and Urban Economics from the American Real Estate and Urban Economics Association (AREUEA).[22]Selected works[edit]Some of Wachter’s works are listed below[23]Books[edit]Levitin, Adam J.; Wachter, Susan M. (2020). The Great American Housing Bubble: What Went Wrong and How We Can Protect Ourselves in the Future. Harvard University Press. ISBN\u00a0978-0-674-97965-9.Inflation and Pensions, (Homewood, IL:  Richard D. Irwin, Inc., December 1987) 375 pages.Latin American Inflation:  The Structuralist-Monetarist Debate (Lexington, MA:  Lexington Books, D.C. Heath & Co., September 1976) 165 pages. ISBN\u00a0978-0-669-99622-7Selected edited books[edit]Wachter, Susan M.; Zeuli, Kimberly A. (2014). Revitalizing American Cities. University of Pennsylvania Press. ISBN\u00a0978-0-8122-4555-4.Women Health and the World\u2019s Cities, co-editors Afaf Ibrahim Meleis and Eug\u00e9nie L. Birch (Philadelphia, PA: University of Pennsylvania, 2011) 328 pages.The American Mortgage System: Crisis and Reform, co-editor Marvin Smith (Philadelphia, PA: University of Pennsylvania, 2011) 392 pagesNeighborhood and Life Chances: How Place Matters in Modern America, co-editors Harriet B. Newburger and Eug\u00e9nie L. Birch (Philadelphia, PA: University of Pennsylvania, 2011) 352 pages.Selected book chapters[edit]\u201cImplications of the Housing Market Bubble for Sustainable Homeownership,” co-authors Paul Calem and Leonard Nakamura, The American Mortgage System: Crisis and Reform, eds. Wachter and Smith, Philadelphia: Penn Press (2011).\u201cInformation Failure and the U.S. Mortgage Crisis,\u201d co-author Adam Levitin, The American Mortgage System: Crisis and Reform, eds. Wachter and Smith, Philadelphia: Penn Press (2011).\u201cUsing Econometrics and Geographic Information Systems for Property Valuation: A Spatial Hedonic Pricing Model,\u201d co-authors Richard Bernknopf, Kevin Gillen and Anne Wein, Visual Valuation: Implementing Valuation Modeling and Geographic Information Solutions, eds. Mark R. Linne and Michelle Thompson, Chicago: Appraisal Institute, August 2010.\u201cThe Housing Finance Revolution,\u201d co-author Richard Green, reprinted in The Blackwell Companion to the Economics of Housing: The Housing Wealth of Nations, eds. Susan Smith and Beverley Searle, London: John Wiley & Sons, 2010.\u201cUrban Growth and Housing Affordability: The Conflict,\u201d co-author Richard Voith, The Annals of the American Academy of Political and Social Science, Volume 626, November 2009, p.\u00a0112.\u201cIntroduction,\u201d co-author Eug\u00e9nie Birch, The Annals of the American Academy of Political and Social Science, Volume 626, November 2009, p.\u00a0112.Articles[edit]Pavlov, Andrey D.; Steiner, Eva; Wachter, Susan M. (29 February 2016). “REIT Capital Structure Choices: Preparation Matters”. SSRN\u00a02727959. Acolin, Arthur; Bricker, Jesse; Calem, Paul S.; Wachter, Susan M. (22 January 2016). “Borrowing Constraints and Homeownership”. SSRN\u00a02720313. Levitin, Adam J.; Wachter, Susan M. (28 January 2015). “Second-Liens and the Leverage Option”. SSRN\u00a02556687. Pavlov, Andrey; Wachter, Susan M.; Zevelev, Albert (21 March 2014). “Transparency in the Mortgage Market”. SSRN\u00a02870751. Wachter, Susan M. (9 October 2014). “The Housing and Credit Bubbles in the US and Europe: A Comparison”. SSRN\u00a02508033. Levitin, Adam J.; Wachter, Susan M. (14 February 2013). “Why Housing?”. SSRN\u00a02114620. Saiz, Albert; Wachter, Susan M. (1 November 2006). “Immigration and the Neighborhood”. SSRN\u00a0931733. Pavlov, Andrey D.; Wachter, Susan M. (27 January 2011). “Subprime Lending and Real Estate Prices”. SSRN\u00a01784092. Pavlov, Andrey D.; Wachter, Susan M. (23 June 2006). “The Inevitability of Market-Wide Underpricing of Mortgage Default Risk”. SSRN\u00a0910970. Pavlov, Andrey D.; Wachter, Susan M. (16 October 2008). “Mortgage Put Options and Real Estate Markets”. SSRN\u00a01285517. Levitin, Adam J.; Wachter, Susan M. (12 April 2012). “Explaining the Housing Bubble”. SSRN\u00a01669401. References[edit]^ a b “Susan M Wachter – Real Estate Department”. Real-estate.wharton.upenn.edu. Retrieved 2013-11-03.^ a b “Susan M. Wachter :CV” (PDF). Real.wharton.upenn.edu. Retrieved 2013-11-03.^ “Foreclosures Drag Down Home Sale Prices”. NPR. 2011-03-22. Retrieved 2013-11-03.^ “Should the Government End Fannie Mae and Freddie Mac? – Room for Debate”. The New York Times. 2013-06-20. Retrieved 2013-11-03.^ Gopal, Prashant (2010-12-31). “U.S. Housing Market Double-Dip Unlikely, Wharton’s Wachter Says”. Bloomberg. Retrieved 2013-11-03.^ Ahir, Hites (2019-06-06). “Understanding Housing Finance: Views from Susan Wachter”. The Unassuming Economist. Retrieved 2019-07-19.^ Herring, Richard J.; Wachter, Susan M. (1 July 1999). “Real Estate Booms and Banking Busts: An International Perspective”. SSRN\u00a02546407. ^ Levitin, Adam J.; Wachter, Susan M. (15 July 2013). “The Commercial Real Estate Bubble”. SSRN\u00a01978264. ^ Cooperstein, Richard; Fears, Ken; Wachter, Susan (2 January 2021). “Government-Sponsored Enterprises: Their Viability as Public Utilities”. Housing Policy Debate. 31 (1): 33\u201350. doi:10.1080\/10511482.2020.1850013. S2CID\u00a0231990848.^ Wachter, Susan M.; Guttentag, Jack (1980). “Redlining and Public Policy”. SSRN\u00a03423074. ^ Schill, Michael H.; Wachter, Susan M. (January 1995). “Housing market constraints and spatial stratification by income and race”. Housing Policy Debate. 6 (1): 141\u2013167. doi:10.1080\/10511482.1995.9521184.^ Linneman, Peter; Megbolugbe, Isaac F.; Wachter, Susan M.; Cho, Man (1 December 1997). “Do Borrowing Constraints Change U.S. Homeownership Rates?”. Journal of Housing Economics. 6 (4): 318\u2013333. doi:10.1006\/jhec.1997.0218.^ “PRESIDENT CLINTON NAMES SUSAN M. WACHTER AS ASSISTANT SECRETARY FOR POLICY DEVELOPMENT AND RESEARCH AT THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT” (Press release). The White House. 29 July 1999.^ “Susan Wachter Named Assistant Secretary” (Press release). United States Department of Housing and Urban Development. January 2000.^ Research, Office of Financial. “Financial Research Advisory Committee | Office of Financial Research” (PDF). financialresearch.gov. Retrieved 2016-11-16.^ “Susan Wachter | World Economic Forum – Susan Wachter”. Weforum.org. Retrieved 2013-11-03.^ “Penn IUR launches the Urban Research eJournal” (Press release). Penn IUR. 2 October 2012.^ http:\/\/www.areuea.org\/about\/past_presidents.phtmlWachter[dead link]^ “Advisory Board”. Globalurban.org. 2013-10-18. Retrieved 2013-11-03.^  (PDF) https:\/\/faculty.wharton.upenn.edu\/wp-content\/uploads\/2016\/11\/Wachter-CV-May-2019.pdf. [dead link][self-published source?]^ “Lindback Awards at Penn, University of Pennsylvania, University Archives”. Archives.upenn.edu. Archived from the original on 2013-03-24. Retrieved 2013-11-03.^ “John M. Quigley Medal for Advancing Real Estate and Urban Economics”.^ “Curriculum Vitae”. Archived from the original on November 4, 2013. Retrieved July 18, 2013.External links[edit]       (adsbygoogle = window.adsbygoogle || []).push({});after-content-x4"},{"@context":"http:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"https:\/\/wiki.edu.vn\/en\/wiki24\/#breadcrumbitem","name":"Enzyklop\u00e4die"}},{"@type":"ListItem","position":2,"item":{"@id":"https:\/\/wiki.edu.vn\/en\/wiki24\/susan-m-wachter-wikipedia\/#breadcrumbitem","name":"Susan M. Wachter – Wikipedia"}}]}]