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Kenneth Rosen - Haas School of Business, University of California, Berkeley. Berkeley, CA, US

Kenneth Rosen Kenneth Rosen

Chair, Fisher Center for Real Estate and Urban Economics | Professor Emeritus | Haas School of Business, University of California, Berkeley

Berkeley, CA, UNITED STATES

Areas of Expertise (9)

Commercial Real Estate Market

Natural Vacancy Rate

Mortgage Market

Real Estate

Housing Market

Economics

Econometric Forecasting Model

Price Adjustments in Real Estate Markets

Rental Housing and Rent Control

About

Ken Rosen is chairman of the Berkeley Haas Fisher Center for Real Estate and Urban Economics; and Professor Emeritus at Berkeley Haas. He is also chairman of Rosen Consulting Group, a real estate market research firm; a former trustee of the Urban Land Institute; and a member of the advisory boards of several nonprofit and for-profit entities that deal with real estate finance and development. He has authored over 100 articles and four books on real estate and real estate finance.

He was formerly the chairman and founder of Rosen Real Estate Securities LLC (RRES), and chairman, founder, and portfolio manager of Lend Lease Rosen Securities, both REIT money management firms. In addition, Rosen served as the special real estate adviser to the Davos World Economic Forum, and he was Consultant/Managing Director of Salomon Brothers' Real Estate Research Department from 1985 to 1990.

Rosen received his PhD in Economics from the Massachusetts Institute of Technology, and a BA with highest honors from the University of Connecticut in 1970. He was a professor of Economics at Princeton University.

Education (2)

Massachusetts Institute of Technology: PhD, Economics

University of Connecticut: BA, Economics

Honors & Awards (9)

Graaskamp Award

PREA 2003

Koret Foundation Fellow for Study in Israel

1994-1995

Earl F. Cheit Award for Excellence in Teaching, MBA Program

1984

National Science Foundation Fellow

1970-1973

Woodrow Wilson Fellow in Economics

1970

Departmental Honors Fellow in Economics

1968-1969

Phi Beta Kappa, Phi Beta Phi, Lambda Alpha

Honor Societies

Elected Treasurer and Executive Committee Member

Board of Governors, University of Connecticut

Elected to Archons

Society of Outstanding Student Leaders

Selected External Service & Affiliations (4)

  • Current affiliations within Haas or UC Berkeley: Chairman, Fisher Center for Real Estate and Urban Economics; Fisher Center for Real Estate Grants Committee
  • Member: American Economics Association; American Real Estate and Urban Economics Association; Urban Land Institute Trustee; Real Estate Roundtable; Real Estate Forum; PREA
  • Referee: American Economic Review; JMCB, Journal of Finance; Journal of Financial and Quantitative Analysis; Journal of Law and Economics; Journal of Urban Economics; Journal of Urban and Real Estate Economics; JPE; Land Economics; National Science Foundation
  • Prior Board Service: Avitar Holdings, Inc.; Board of Trustees of the Urban Land Institute (nonprofit); Golden West Financial Corporation; National Association of Business Economics – San Francisco Chapter (nonprofit); PMI Mortgage Insurance Co.; National Association of Real Estate Trusts – Investor Advisory Council (nonprofit); Bentley School (nonprofit); Chairman of UCSF Real Estate Advisory Board (nonprofit)

Positions Held (1)

At Haas since 1979

1981 – 2005, Professor, Haas School of Business 1978 – 1981, Associate Professor, Haas School of Business 1975 – 1978, Assistant Professor of Economics and Public Affairs, Princeton University 1974, Assistant Professor of Economics, Boston University. 1972 – 1975, Research Associate, Joint Center for Urban Studies of MIT and Harvard University 1971, International Economic Intern, United States Treasury Department 1970 – 1971, Special Assistant to the Director of Research and Program Information, Connecticut Department of Community Affairs 1969 – 1970, Economic Analyst, Connecticut Department of Community Affairs 1968 – 1969, Research Assistant, Professor George France, University of Connecticut

Media Appearances (15)

Covid pandemic reveals the Achilles' heel of unicorn startups

San Francisco Business Times  online

2020-06-17

For startups with high burn rates and not a lot of revenue, it may get a lot worse before it gets better — if it gets better at all.

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In Boom-and-Bust San Francisco, Pandemic Brings Grim New Reality

Bloomberg  online

2020-05-29

San Francisco stands to take a deep hit from the pandemic due to its unique circumstances: a combination of already pricey real estate and tech employees working remotely or laid off. "The boom is over, and the question is how deep will the bust be," said Ken Rosen, chair of the Fisher Center for Real Estate and Urban Economics. "We are going to need dramatic changes if we’re going to keep our golden goose here."

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An ‘Avalanche of Evictions’ Could Be Bearing Down on America’s Renters

New York Times  online

2020-05-27

Some argue that the federal government has already intervened effectively, in the form of the stimulus checks and a $600 weekly boost to unemployment payments. Many low-wage workers are making more money on unemployment than they were when they were working, said Ken Rosen, chair of the Berkeley Haas Fisher Center for Real Estate and Urban Economics.

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‘An induced coma’: How COVID-19 is impacting the buying and selling of homes in the East Bay

Berkeleyside  online

2020-04-30

A wait-and-see attitude has slowed the housing market in the East Bay. "I call it an induced coma," said Kenneth Rosen, chair of the Fisher Center for Real Estate and Urban Economics. Recovery won't be immediate, he said. "You get out of the coma. You don’t go dancing right away. You take a long, slow recovery to get back to normal," Rosen said.

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Victims of NIMBYism, Unite

The Atlantic  online

2020-02-19

In 1981, a New York Times headline reads: Changing San Francisco Is Foreseen as a Haven for Wealthy and Childless. The article mentions that the Bay Area’s growing housing supply problems were already being researched by Kenneth Rosen, chair of the Fisher Center for Real Estate and Urban Economics.

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Arrival of the Inner East Bay

Oakland Magazine  online

2020-01-08

Ken Rosen, chairman of the Fisher Center for Real Estate and Urban Economics at UC Berkeley’s Haas School of Business, said that prices rose so “unsustainably” in Silicon Valley and on the Peninsula in recent years that a dip was to be expected. People all across the Bay Area are having to pay so much of their earnings for housing that further corrections are not unlikely, especially if the region’s tech sector weakens, said Rosen, who expects a tech downturn in the next few years.

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Experts Weigh in on Recession: Yay or Nay?

Globe St.  online

2019-11-12

In the commercial economic issues and trends forum session, Ken Rosen, chairman of the Berkeley Haas Fisher Center for Real Estate and Urban Economics, professor emeritus at Berkeley’s Haas Center and chairman of Rosen Consulting Group, a real estate market research firm, squared off with Lawrence Yun, NAR chief economist, with differing views about that question. The session covered commercial market trends, where the economy is heading in 2020 and what this means for commercial real estate.

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The Bay Area is booming — and bracing for a slowdown

San Francisco Chronicle  online

2019-08-17

Bay Area companies are bracing for a downturn amidst warning signs of a recession. Compared to the last recession in 2007, “we’re more likely to see something mild this time, but the Bay Area won’t be insulated or immune,” said Prof. Emeritus Kenneth Rosen, Chair of the Fisher Center for Real Estate and Urban Economics.

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Sound Off: How does the Housing Market Index help gauge market trends?

SF Gate  online

2019-04-26

One real estate expert says that when looking at the San Francisco housing market, with its huge variety of housing types, from houses, condos, tenancy-in-commons, co-ops, and apartment buildings, data from Ken Rosen's Fisher Center for Real Estate at Haas can be valuable.

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This 1981 prediction of elitist takeover of SF basically came true

SF Gate  online

2019-04-22

In 1981, Ken Rosen, chairman of the Berkeley Haas Fisher Center for Real Estate and Urban Economics, told the New York Times that "unless we adopt some sort of policy to insure income integration, we will crowd out all the middle-income people. I think San Francisco is going to become a very rich living area."

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Experts Talk Where to Invest, What to Avoid

Commercial Property Executive  online

2019-04-19

At an industry panel, Ken Rosen, chairman of the Berkeley Haas Fisher Center for Real Estate and Urban Economics, cautioned that the risk of recession is rising, with a possibility of a hit coming at the end of 2020 or 2021. “What worries me most is the huge amount of money out there, not just for real estate but in bonds,” said Rosen. “We kept the rates too low for too long.”

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ULI Forecast Shows U.S. Growth Continuing Over Next Three Years

Urbanland  online

2019-04-18

The expansion of the U.S. economy is expected to continue over the next three years, with growth moderating by 2021, according to the 15th annual Urban Land Institute Real Estate Economic Forecast covering 27 economic and real estate indicators. Ken Rosen, chairman of the Berkeley Haas Fisher Center for Real Estate and Urban Economics, noted that the Fed was on track to raise interest rates last December but did a 180-degree turn one month later. He said the risk of a recession remains.

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Experts warn next recession around the corner

Real Estate Weekly  online

2018-12-12

Kenneth Rosen, Chair of the Fisher Center for Real Estate and Urban Economics, warned of a likely slowdown in 2019 before an inevitable recession in 2020 or, at the latest, 2021.

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Real estate experts: Time to move to cash and prepare for next recession

San Francisco Business Times  online

2018-11-19

The San Francisco Bay Area could be especially hard hit in the next recession, said Kenneth Rosen Chair, Fisher Center for Real Estate and Urban Economics. The region has enjoyed a flood of money pouring in to finance startups, but it's also fueling higher prices on stocks and houses.

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Apple becomes first trillion-dollar US company

San Francisco Chronicle  online

2018-08-02

Two decades ago, Apple was hurting. Then co-founder Steve Jobs returned and under his leadership, Apple began its turnaround with the iMac, iPod, iPhone and iPad. “These devices, they’re the linchpin” of the economy, said Ken Rosen, chair of the Fisher Center for Real Estate & Urban Economics at Berkeley Haas.

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Selected Papers & Publications (9)

The Case for Preserving Costa-Hawkins: How Rent Control Reduces Property Values, Hurts Small Businesses and Limits State and Local Tax Revenue

Working Paper

Kenneth T. Rosen

2018

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The Case for Preserving Costa-Hawkins: Three Ways Rent Control Reduces the Supply of Rental Housing

Working Paper

Kenneth T. Rosen

2018

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The Case for Preserving Costa-Hawkins: Who Really Benefits from Rent Control?

Working Paper

Kenneth T. Rosen

2018

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The Case for Preserving Costa-Hawkins - The Potential Impacts of Rent Control on Single Family Homes

Working Paper

Kenneth T. Rosen

2018

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Rebuilding the American Dream: Strategies to Sustainably Increase Homeownership

Working Paper

Kenneth T. Rosen, David Bank, Avani Patel, Brett Fawley, Heather Belfor, Adam Eckstein and Anisha Gade

2017

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The US Housing, Mortgage and Commercial Real Estate Markets Policy and Reform Proposals

Testimony Before the U.S. Financial Crisis Inquiry Commission

Kenneth T. Rosen

January 2010

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The Housing and Mortgage Market Problem: A Set of Policy Options

Policy Paper presented to the Obama Treasury Transition Team

Kenneth T. Rosen

Washington D.C. January, 2009

Anatomy of the Housing Market Boom and Correction

Wharton Real Estate Review

Kenneth T. Rosen

Zell/Lurie Real Estate Center at Wharton 2007

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Shopping the City: Real Estate Finance and Urban Retail Development

Brookings Institution Center on Urban and Metropolitan Policy

K. Rosen, G. Kim and A. Patel

2003

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