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Joseph L. Pagliari Jr.

Joseph L. Pagliari Jr. is a clinical professor of real estate at the University of Chicago Booth School of Business. His research and teaching—based on over 40 years of industry experience—focuses on issues broadly surrounding institutional real estate investment. He earned an MBA from DePaul University-Chicago and a PhD in finance from the University of Illinois-Urbana.
Commentary

The Macroeconomic Implications of Falling Real Estate Prices

Joseph L. Pagliari Jr.
In this second article on real estate in the current high-interest-rate environment, Joseph L. Pagliari Jr. explores banks’ exposure to commercial real estate, who might help fill the credit void as bank funding dries up, how the work-from-home phenomenon impacts commercial real estate prices, particularly the office sector, and what risks large urban centers face with emptied office buildings.
Commentary

Evaluating Concerns of Collapsing Commercial Real Estate Prices

Joseph L. Pagliari Jr.
There are concerns among bankers and economists that commercial real estate prices are at risk of decreasing substantially. Joseph L. Pagliari, Jr. explains how commercial real estate should be priced based on current and projected inflation and interest rates. A subsequent article will explore if concerns about bank and broader economic vulnerabilities to lower CRE prices.

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The publication of the Stigler Center at The University of Chicago Booth School of Business

ProMarket is dedicated to discussing how competition tends to be subverted by special interests. The posts represent the opinions of their writers, not necessarily those of the University of Chicago, the Booth School of Business, or its faculty. For more information, please visit ProMarket Policy.