Event Details


REALTOR® University Speaker Series


Real Estate Investments: Looking Beyond the Usual Top-Tier Cities

Hugh F. Kelly, PhD

Special Advisor, Fordham University Real Estate Institute


July 27, 2018, 12:00 noon–1:00 p.m. (Friday)

NAR Washington D.C. Office, 500 New Jersey Avenue, NW

12th Floor Event Room

(Light lunch starting at 11:45 a.m.)


Previous research has examined the total returns and capital flows in the office and multifamily sectors in major markets, linking such measures to urban vibrancy. This research expands the investigation by looking specifically at smaller markets. The data reveal a subset of “secondary and tertiary” markets attracting higher-than-expected investment flows. The paper explores two characteristics that have been proposed as stimulants to economic performance – low housing costs and low state and local taxes – and tests the hypothesis that investors favor such places.

Dr. Hugh F. Kelly serves as Special Advisor at the Fordham University Real Estate Institute and the Director of Fordham's Real Estate Graduate Program. Formerly, he was a Clinical Professor of Real Estate at New York University Schack Institute of Real Estate, where he served on the faculty for more than 30 years. He currently sits in the Board of Regents of Realtor® University. He served as the 2014 Chair of the Board for the Counselors of Real Estate organization and heads his own consultancy practice. He is author and editor of books such as “24-Hour Cities” and “Comparative Statistics of Industrial and Office Real Estate Markets”. Dr. Kelly received his PhD in Economics and the Built Environment from the University of Ulster (Northern Ireland) and a B.A. in Philosophy from Cathedral College (Queens, New York). Dr. Kelly’s full CV can be accessed here.

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  • When: Fri Jul. 27
    12:00 pm - 1:00 pm

  • Address: 500 New Jersey Avenue Northwest
    Washington DC,US 20001

  • Web: Visit Website