CURRICULUM VITAE

LYNN M. FISHER

Department of Urban Studies and Planning
Center for Real Estate
Massachusetts Institute of Technology
Building W31-310, 77 Massachusetts Avenue
Cambridge, Massachusetts 02139
Tel: (617) 252-1685
Email: lfisher@mit.edu

PROFESSIONAL POSITIONS

Department of Urban Studies and Planning, and Center for Real Estate, Massachusetts Institute of Technology, Cambridge, MA
- Associate Professor of Real Estate, as of July 2008
- Assistant Professor of Real Estate, July 2003 to July 2008
- Ford Development Chair, August 2007 to present
- Director, Housing Affordability Initiative, November 2007 to present
  Courses:
  - 11.963/4.293 Real Estate Development I (MSRED core course)
  - 11.346 Housing Markets (half-semester)
  - 11.340/15.658 Legal Issues in the Development Process (half-semester)
  - 11.347 Topics in Housing Finance (half-semester)
  - 11.947 Symposium in Housing Economics & Finance
  - 11.303 Real Estate Development
  - 11.433 Real Estate Economics
Department of Finance, Insurance and Real Estate, Washington State University, Pullman, WA Assistant Professor of Real Estate, August 2002 to May 2003
Department of Insurance and Real Estate, The Pennsylvania State University, State College, PA
- Research Assistant for Austin Jaffe, Ken Lusht, Abdullah Yavas, 1997-2002 Teaching Assistant, 1999-2002

EDUCATION

Ph.D. in Business Administration, Real Estate Finance, 2002 Dissertation: "Financial Contracting in Real Estate"
M.S. in Business Administration, Real Estate, 2001 Thesis: "Economic Growth, Institutions and Real Property"
B.A. in International Politics, University Scholar, 1992 Minors: Russian Language and Soviet Area Studies

REFEREED PUBLICATIONS

"The Value of Equitable Redemption in Commercial Mortgage Contracting," (with A. Yavas)
Journal of Real Estate Finance and Economics 35: 4 (2007).
"Renegotiation in the Common Law Mortgage and the Impact of Equitable Redemption,"
Journal of Real Estate Finance and Economics 32: 1 (2006), 61-82.
"The Wealth Effects of Sale and Leasebacks: New Evidence,"
Real Estate Economics 32: 4 (2004), 619-643.
"Tenure Choice and Labor Market Outcomes" (with N.E. Coulson),
Housing Studies, 17 (2002), 35-49.
"Restitution in Transition Countries" (with A. Jaffe),
Journal of Housing and the Built Environment, 15 (2000), 233-248.

UNDER REVIEW

"Housing Tenure and Labor Market Impacts: The Search Goes On" (with N.E. Coulson), under review at Journal of Urban Economics.
"Amenity-Based Housing Affordability Indexes" (with H. Pollakowski and J. Zabel), under review at Real Estate Economics.
"Real Estate Brokerage: The Impact of a ‘Race’ on Incentive Compatible Commission Contracts" (with A. Yavas), under review at the Journal of Real Estate Finance and Economics.

WORKING PAPERS

"The Selection of Developer Permit Applications for Litigation: Asymmetric Information and Entitlements."
"Residential Mortgage Prepayment: The Evolution of the Borrower's Right to Prepay in the U.S." "Economics of the Mortgage and Mortgage Institutions: Differences between Civil Law and Common Law Approaches" (with R. VanOrder).

OTHER PUBLICATIONS

"Review of A Primer on U.S. Housing Markets and Housing Policy by Richard K. Green and Stephen Malpezzi," Journal of Housing Economics 14 (2005), 57–59.
"Some Stylized Facts about Home Ownership Around the World" (with A. Jaffe), Proceedings of CIB-W69: Housing Sociology Conference, October, 2003.
"Determinants of International Home Ownership Rates" (with A. Jaffe), Housing Finance International 18 (September 2003), 34-42.
"Quality of Life in U.S. Cities: A New Ranking" (with K. Lusht and Z. Wu), PREA Quarterly, (Winter 1999), 22-26.

PROFESSIONAL PRESENTATIONS

"The Selection of Developer Permit Applications for Litigation: Asymmetric Information and Entitlements," AREUEA Annual Meetings, New Orleans, LA, January 2008.
"The Selection of Developer Permit Applications for Litigation: Asymmetric Information and Entitlements," Lusk Center Research Seminar, University of Southern California, November 2007.
"Residential Mortgage Prepayment: The Evolution of the Borrower's Right to Prepay in the U.S.," Board of Governors of the Federal Reserve System, Washington D.C., September 2007.
"Housing Tenure and Labor Market Impacts: The Search Goes On" (with N.E. Coulson), AREUEA International Meetings, Macua, China, July 2007.
"Economics of the Mortgage and Mortgage Institutions: Differences between Civil Law and Common Law Approaches" (with R. VanOrder), AREUEA Annual Meeting, Chicago, IL, January 2007.
"Amenity-Based Housing Affordability Indexes" (with H. Pollakowski and J. Zabel), AREUEA International Meetings, Vancouver, Canada, July 2006.
"Amenity-Based Housing Affordability Indexes" (with H. Pollakowski and J. Zabel), AREUEA Mid-Year Meetings, Washington, D.C., May 2006.
"Density Bonuses and the Behavior of Zoning Boards and Developers with Private Information," Weimer School Post-Doctoral Scholars - Research Presentations, May 21, 2006.
"Town and Developer Behavior with Private Information: Override Zoning Permitting in Massachusetts under Chapter 40B," CRE Urban Economics and Real Estate Finance Seminar, April 25, 2006.
"Residential Mortgage Prepayment: The Evolution of the Borrower's Right to Prepay in the U.S.," AREUEA Annual Meeting, Boston, Massachusetts, January 2006.
"Job Accessibility-Based Housing Affordability Indexes" (with H. Pollakowski), Boston Federal Reserve, October 6, 2005
"Financial Contracting and Land Assembly," AREUEA International Conference, Los Cabos, Mexico, August 2005.
"The Value of Equitable Redemption in Commercial Mortgage Contracting" (with A. Yavas), Centre for Real Estate Research, Third Annual Research Symposium, University College Dublin, March 2005.
"The Value of Equitable Redemption in Commercial Mortgage Contracting" (with A. Yavas), AREUEA Annual Meeting, Philadelphia, Pennsylvania, January 2005.
"Property Rights in Eastern Europe" (with A. Kim), AREUEA International Conference, Fredericton, New Brunswick, Canada, August 2004.
"Economics of Equitable Redemption," The 5th Cambridge-Maastricht Real Estate Finance and Investment Symposium, June 2004.
"Real Estate Brokerage: The Impact of a Race on Incentive Compatible Commission Contracts" (with A. Yavas), 2004 Weimer School of Advanced Studies in Real Estate and Land Economics, West Palm Beach, Florida, January 2004.
"Some Stylized Facts about Home Ownership Around the World" (with A. Jaffe), Housing Sociology Conference in Budapest, Hungary, October 2003.
"Institutional Determinants of Mortgage Markets" (with A. Jaffe), American Real Estate and Urban Economics International meetings, Cracow, Poland, June 2003.
"Real Estate Brokerage: The Impact of a Race on Incentive Compatible Commission Contracts" (with A. Yavas), American Real Estate and Urban Economics International meetings, Cracow, Poland, June 2003.
"Real Estate Brokerage: The Impact of a Race on Incentive Compatible Commission Contracts" (with A.Yavas), European Real Estate Society Conference, Helsinki, Finland, June 2003.
"Aggregate Homeownership and Individual Labor Market Outcomes: More Evidence on the Oswald Hypothesis" (with N.E. Coulson and D. Laing), AREUEA Meeting, Washington D.C., January 2003.
"Determinants of International Homeownership Rates" (with A. Jaffe), AREUEA International Conference, Seoul, Korea, July 2002.
"The Governance of Mortgages," ARES Annual Meeting, Naples, FL, April 2002.
"Financial Contracting in Real Estate," ARES Doctoral Seminar, Naples, FL, April 2002.
"The Wealth Effects of Sale and Leaseback Transactions: A New Look," AREUEA Meeting, Atlanta, GA, January 2002.
"Explaining Economic Growth in Eastern Europe" (with A. Jaffe), ERES International Conference, Alicante, Spain, June 2001.
"Tenure Choice and Labor Market Outcomes" (with N.E. Coulson), Opportunity, Deprivation, and the Housing Nexus: Trans-Atlantic Perspectives, Washington D.C., May 2001.
"Determinants of International Homeownership Rates" (with A. Jaffe), AREUEA International Conference, Cancun, Mexico, May 2001.
"Do Institutions Matter for Economic Growth and Investment?" (with A. Jaffe), Association of Private Enterprise Education Meeting, Las Vegas, NV, April 2000.
"Restitution in Transition Countries" (with A. Jaffe), ENHR European Housing and Urban Policies Conference, Balatonfüred, Hungary, August 1999.
"Poverty and Real Assets: A Survey," World Bank, Washington, D.C., August 1999.

RESEARCH GRANTS

Real Estate Research Institute, 2006 Research Grant recipient (with B.A. Ciochetti)

PROFESSIONAL SERVICE

Editorial Board Member:
- Journal of Real Estate Finance and Economics
Referee:
- Real Estate Economics
- Journal of Real Estate Finance and Economics
- Journal of Housing Economics
- Regional Science and Urban Economics
- European Financial Management
Conference Participation:
- 2001 AREUEA International Conference, Cancun, Mexico, May 2001, discussant.
- 2003 AREUEA Annual Meeting, Washington, D.C., January 2003, discussant.
- 2004 AREUEA International Conference, Fredericton, Canada, August 2004, session chair, discussant.
- 2005 AREUEA Annual Meeting, Philadelphia, PA, January 2005, discussant.
- 2005 AREUEA International Conference, Los Cabos, Mexico, August 2005, organization committee, session chair, discussant
- 2006 AREUEA Annual Meeting, Boston, MA, January 2006, session chair, discussant
- 2006 AREUEA International Conference, Vancouver, Canada, July 2006, discussant
- 2007 AREUEA Annual Meeting, Chicago, IL, January 2007, discussant

UNIVERSITY SERVICE

DUSP Head Search Committee, November 2006 to present
Urban Technologies and Information Systems Faculty and Research Scientist Search Committee, November 2005 — April 2006
CRE Housing Affordability Initiative, September 2004 to present
DUSP PhD Committee, September 2004 to present.
CRE Curriculum Committee, October 2003 to present.
MSRED Thesis Advisor, September 2003 to present.
Eastman Chair Search Committee, 2004.
Faculty Advisor to the Real Estate Club, Washington State University, Fall 2002 to Spring 2003.

OTHER ACTIVITES

The Third Annual Planning Symposium, sponsored by the planning programs of Harvard, MIT, and Tufts, along with the Massachusetts Chapter of the American Planning Association, presenter, September 2007.
Third Annual Housing Affordability Conference, MIT CRE, May 2007, presenter and joint organizer (with Henry Pollakowski).
Second Annual Housing Affordability Conference, MIT CRE, May 2006, presenter and joint organizer (with Henry Pollakowski).
First Annual Housing Affordability Conference, MIT CRE, May 2005, presenter and joint organizer (with Henry Pollakowski).
"Housing: A Solution to a Growing Economy," featured speaker at seminar by New England Women in Real Estate , November 2006.
"Taking Stock of Affordable Housing", HCED luncheon seminar, September 2006.
"Housing Affordability versus Affordable Housing," Professional Development Course, CRE, July 25-26, 2005, instructor.
"Consumer Protection and Home Buying: The Business Behind the Business", hosted by Massachusetts Association of Buyers Agents, Boston, MA, June 2, 2005, panelist.

HONORS AND AWARDS

Ford Career Development Chair, 2007.
Asian Real Estate Society and RICS Foundation Best Paper Award, 2006.
Post-doctoral award, Weimer School of Advanced Studies in Real Estate and Land Economics, 2006.
Summer Research Grant (with A. Jaffe), The Pennsylvania State University, Summer 2001.
Selected Paper (with N.E. Coulson), Urban Institute Paper Competition, 2001.
Philip H. Sieg Fellowship, The Pennsylvania State University, 1999.
American Society of Real Estate Counselors Scholarship, 1997.

MIT Center for Real Estate