Wachter Receives Quigley Medal

The American Real Estate and Urban Economics Association (AREUEA) announced at its January annual meeting that Penn IUR Co-Director Susan Wachter, Albert Sussman Professor of Real Estate, Professor of Finance, The Wharton School, won the 2022 John M. Quigley Medal for Advancing Real Estate and Urban Economics. Recipients of this prestigious award represent the many ways in which John Quigley, the late Berkeley-Haas housing expert, significantly advanced the academic fields of real estate, urban economics, public finance, regional science, among others.

“The Quigley Medal recognizes individuals who are extraordinary scholars in real estate, influential contributors to the public policy debates, and generous mentors to the next generation of researchers,” said Karen Pence, immediate past president of AREUEA. “It is a pleasure to be able to recognize Susan’s outsized and sustained contributions in all three areas.”

Wachter’s research interests lie in housing finance, real estate economics, and urban economics. Her most recent book, The Great American Housing Bubble (Harvard University Press, 2020), co-authored with Adam J. Levitin, explores the source of the worst global financial crisis since the Great Depression in risky lending and inadequate oversight. The author of more than 200 articles, her current research focuses on macro prudential policy and housing affordability as well as housing supply issues.

In 2004, Wachter co-founded Penn IUR with Eugénie Birch, Nussdorf Professor of Urban Research, Department of City and Regional Planning, Stuart Weitzman School of Design. From 1998 to 2001, Wachter participated in the founding of the Real Estate department at Wharton and served as its Chair. Wachter was Assistant Secretary for Policy Development and Research, U.S. Department of Housing and Urban Development (HUD); a Presidential and Senate-confirmed appointment. During her tenure at HUD, her office was responsible for the New Markets Tax Credit, the major legislative initiative for urban revitalization, with the goal of attracting private capital into low-income communities. Currently a member of the Bureau of Economics Advisory Committee, Wachter previously served on the Financial Research Advisory Committee of the Office of Financial Research of the Department of Treasury.

Wachter has been asked to give the keynote address at the AREUEA National Conference in Washington D.C. in the summer of 2022.