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.

The Macroeconomic Implications of Falling Real Estate Prices

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.

Evaluating Concerns of Collapsing Commercial Real Estate Prices

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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