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Welcome to Real
Estate Economics.
I'm John McDonald.
I'm an Emeritus Professor of
Economics at the University
of Illinois, Chicago,
but also an Emeritus
Professor of
Real Estate at the Roosevelt
University in Chicago.
Along with Daniel McMillen,
I'm the author of a textbook
called "Urban Economics
and Real Estate".
This will be a series of
10 talks on the key
concepts in real estate.
I hope that after
listening to these talks,
you will be motivated to do
more studying in the
field of real estate
because I think everybody
should know something
about real estate.
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So, this series of
10 talks will be
broken down into three
major categories.
These three topics include
real estate law, three talks;
real estate markets, four talks;
and naturally, real estate
finance, three talks.
That will be the series.
So, let me describe
for you the content of
these 10 talks according
to this organization.
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Real estate law, first of all,
we'll begin with a definition
of what is meant by real estate.
This is a legal definition that
we will cover in this talk.
This will be followed by a
talk on the forms of ownership
and the documentation of
that ownership in deeds,
titles, leases,
and other methods
of property identification.
The third talk on
real estate law will be about
contracts in real estate.
So, this will be
the application of
the law of contracts
to real estate.
