Real estate accounts for one third of the capital assets around the world. The real estate sector is ripe for change, being famous for its historical lack of capacity for deep and continuing innovation. The internet, mobile telephony, and ability to collect and process big data have enabled a boom in technology-based solutions applied to nearly all areas of real estate. In 2017, venture investors deployed over $5 billion in real estate technology, more than 150 times the amount invested in 2010. Once a sector ignored by the venture industry, real estate tech has come front and center, producing two of the three most valuable startups in the United States, WeWork and Airbnb.
The purpose of this course is to introduce students to the recent disruptions in the real estate industry and provide them with an understating of the economic rationale driving such solutions. A large part of the course will focus on PropTech that refers to businesses using technology to disrupt and improve the way we buy, rent, sell, manage, construct, and design residential and commercial properties. Those insights can help students make better real estate investment and development decisions for the future, including the development or investment in disruptive technologies and applications.
Edward S. Gordon Professor of Real Estate
Tomasz Piskorski is the Edward S. Gordon Professor of Real Estate in the Finance Division at Columbia Business School. He is also a Research Associate at the National Bureau of Economic Research and serves on the Academic Research Council of the Housing Finance Policy Center at the Urban Institute. Professor Piskorski earned a M.S. in Mathematics from New York University Courant Institute of...