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Real Estate Professor Testifies Before Senate Panel on Housing Prices

December 13, 2007

Morris Davis, an assistant professor of real estate and urban land economics at the Wisconsin School of Business, testified December 13 before the U.S. Senate Finance Committee on home prices and the broader economy.

Davis’ testimony, in part, made the case that a decline in house prices will be accompanied by a slowdown in residential investment and the gross domestic product. He noted that residential investment is already below trends, and is expected to fall further as house prices fall.

Davis is an often-cited expert on housing and its impact on the macroeconomy.   Before coming to UW-Madison in 2006, he worked for six years at the Federal Reserve Board in Washington, D.C. as an economist. He also for two years as the vice president of yield optimization for ReturnBuy, Inc., a high-tech company funded by eBay, Draper Atlantic, and other prominent venture funds. Davis is best known for his research on the interaction of the macroeconomy, house prices and the price of land.

Read his testimony