Ed Coulson
Professor of Economics and Director of the Center for Real Estate UC Irvine
- Irvine CA
N. Edward Coulson teaches in the area of Economics and Public Policy and serves in the school’s Center for Real Estate.
Media
Social
Biography
Coulson received a Bachelor of Science in Economics from the University of California, Riverside, and a PhD from UC San Diego, where he studied under the direction of Nobel Laureate Robert Engle. He previously served as professor of Economics and director of the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas. Prior to UNLV, he served as professor of Economics and King Faculty Fellow in Real Estate at The Pennsylvania State University where he had been a member of the faculty since 1984 and had received numerous outstanding teaching awards.
Among the many topics Professor Coulson has done research on are: the mismeasurement of rent in the Consumer Price Index, and its implications for macroeconomic policy; the bias in residential appraisals; the impact of homeownership on people’s lives and neighborhoods; home prices; multifamily housing and its management; historic districts; the relationship between REITs and other asset markets; and many others. His co-edited book Energy Efficiency and the Future of Real Estate was published by Palgrave Press in 2017,
In addition to his extensive research, Coulson has served as co-editor of numerous journals and served as president of the American Real Estate and Urban Economics Association (AREUEA) in 2016.
Areas of Expertise
Accomplishments
George Bloom Award for Lifetime Service
2024
American Real Estate and Urban Economics Association
Outstanding Editorial Board Member Award
2003
Real Estate Economics
Education
University of California, San Diego
PhD
Economics
1983
University of California, Riverside
BSc
Economics
1977
Affiliations
- Journal of Regional Science : Editor
- Journal of Housing Economics : Editor
- Real Estate Economics : Editorial Board
- Journal of Urban Economics : Editorial Board
- Regional Science and Urban Economics : Editorial Board
Media Appearances
California ranks 15th in ‘tenant friendliness,’ study finds
The Orange County Register online
2025-08-01
According to research co-authored by UC Irvine housing economist Ed Coulson, California ranked 15th in the nation in terms of tenant protections, behind Delaware, Rhode Island, Massachusetts and New York. … “One might think that coastal blue states might have more tenant friendliness, but that’s not always the case,” said Coulson, director of UCI’s Center for Real Estate. “By our index, California is not even in the top 10.” … We asked Coulson to explain his findings.
White picket rents: Tenants are flooding the suburbs where they can't afford to buy
NBC News online
2025-06-12
In a market this tough, some housing experts say the proliferation of rental properties has helped keep suburban lifestyles accessible to people who otherwise couldn’t afford them. “You have your own land, you have kids or you have a dog, and you want that space,” said N. Edward Coulson, a professor at the University of California, Irvine, and the director of its Center for Real Estate. “They get all that amenity from having a single-family home.”
Homebuyers are still waiving inspections. Could the latest Fed rate cut help turn the tide?
Marketplace online
2024-09-30
Edward Coulson, a real estate expert, said we’re in a market that favors sellers, but it’s cyclical, which means he thinks there will be a point in time where buyers regain some bargaining power. … Homeowners who are locked into the low mortgages they got during the early years of the pandemic have been reluctant to sell their home and buy another one at a higher rate, explained Coulson, who’s an economics professor at the University of California, Irvine, and the director of the school’s Center for Real Estate. Coulson said he thinks that may have contributed to the housing shortage.
Does the presidential election take a bite out of small businesses?
Marketplace online
2024-09-27
Higher rates mean the cost of borrowing goes up, which translates to higher auto, credit card and mortgage rates. That in turn can weaken consumer spending. “A rise in interest rates depresses all kinds of investment, including investing in buying a home,” said Edward Coulson, an economics professor at the University of California, Irvine, and the director of the school’s Center for Real Estate. Home sales are also seasonal and generally decline in the colder months, because “you don’t want to go house shopping in the middle of a blizzard,” Coulson said. Plus, parents want stability as the school year begins.
How low could mortgage rates drop in 2025? Here's what experts say
CBS News online
2024-08-29
In the post-pandemic era, homebuyers faced unprecedented challenges, as mortgage rates climbed to the highest levels since the early 2000s. …"It has certainly made borrowing more expensive, and discouraged some households from becoming homeowners," says Edward Coulson, professor of economics and public policy and director of the Center of Real Estate at UCI Paul Merage School of Business. "It has also impacted current homeowners, who hold mortgages with low rates, from changing houses because they don't want to trade in their low payments for higher payments."
Will home prices finally drop this fall? Experts weigh in
CBS News online
2024-08-26
Potential buyers hoping for more affordable home prices this fall are likely to be disappointed. "House prices have remained high in most areas in spite of higher mortgage rates, which would normally have lowered demand," says Edward Coulson, professor of economics and public policy and director of the Center of Real Estate at UCI Paul Merage School of Business. "There is no reason to think that house prices will fall, especially if interest rates come down."
Articles
An Alternative Approach to Estimating Foreclosure and Short Sale Discounts
Journal of Urban Economics2023
Current research documents astonishingly large price discounts for foreclosures and short sales. However, such outsized estimates may largely be due to omitted variables bias. We propose an innovative methodology relying on appraisers’ ability to match properties along both observable and unobservable attributes when performing appraisals.
Housing Rents and Inflation Rates
Journal of Money, Credit and Banking2022
This paper develops a quality-adjusted measure of marginal housing rents using a monthly statistic of landlord net rental income. The marginal rent index (MRI) exhibits deflation during recessions and leads the official rent index by 7 months.
Distressed comps
Real Estate Economics2022
We consider the use and impact of distressed properties as comparables in residential appraisals. First, we describe the incidence of their use and their relative comparability; second, we estimate their impact on the appraisal value itself; and third, we consider their impact on the probability that the appraisal is below the proposed transaction price.
Job match and housing tenure
Real Estate Economics2022
Homeownership, though it brings both private and social benefits, entails substantial fixed costs. Standard personal financial advice suggests that homeownership should only be undertaken when one's job situation is stable and job movement is not likely in the near future.
