Joseph Gyourko is the Martin Bucksbaum Professor of Real Estate, Finance and Business & Public Policy at The Wharton School of the University of Pennsylvania. He also serves as Director of the Zell/Lurie Real Estate Center at Wharton and is Chair of the Real Estate Department. Professor Gyourko received his B.A. from Duke University and a Ph.D. in economics from the University of Chicago. His research interests include real estate finance and investments, urban economics, and housing markets. Professor Gyourko is a Research Associate of the National Bureau of Economic Research (NBER) and is Co-Director of the NBER Project on Housing Markets and the Financial Crisis. A former editor of Real Estate Economics, Professor Gyourko presently serves on various journal editorial boards. Professor Gyourko is a past Trustee of the Urban Land Institute (ULI) and currently serves on the Board of Directors of the Pension Real Estate Association (PREA). Finally, he consults and advises real estate various companies and investors.
University of Chicago, Ph.D., Economics, 1984 Duke University, A.B. (Summa Cum Laude), Economics, 1978
Drawing on original risk analysis, Wharton School professor Joseph Gyourko explains why FHA's failure to accurately account for the unemployment risk in its Single-Family Mutual Mortgage Insurance Fund is a key cause of its increasing share of seriously delinquent loans and the insolvency of its main insurance fund.
It was no surprise to this observer when the recently released 2012 fiscal year actuarial review of the Federal Housing Administration’s (FHA’s) main single family mortgage insurance fund concluded that it was insolvent.
At this AEI event, Wharton professor Joseph Gyourko discusses the implications of his research on the Federal Housing Administration. Edward Pinto, AEI scholar and housing finance expert, will respond.
As the US debt continues to grow, HUD officials still fail to own up to the massive liabilities on their books that could cost taxpayers mightily. In a point by point refutation, Wharton professor Joseph (Joe) Gyourko responds to HUD's attack of his recent AEI report.
HUD recently issued its first official response to the report "Is FHA the Next Housing Bailout?", providing important insight into the perspective of HUD’s leadership on the issue of the solvency of the FHA insurance fund.
Leveraged bets as high as 30 to 1 on risky investments with little equity cushion against potential losses is what helped bring down the likes of Lehman Brothers, Bear Stearns, Fannie Mae and Freddie Mac. Think it can't happen again? It's about to—with the Federal Housing Administration.