NYU Furman Center Summer Speaker Series: Moussa Diop
Please join the NYU Furman Center for a virtual lunchtime presentation:
Do Appraiser and Borrower Race Affect Valuation?
with
Moussa Diop
Assistant Professor of Real Estate
University of Southern California
Sol Price School for Public Policy
Monday, 8/8 @ 2:00 p.m. - 3:00 p.m. ET
Join on Zoom
Diop and his co-authors examine the incidence of racial bias in property appraisals using a nationwide sample of refinanced mortgages from 2000 to 2007. Uniquely, their data allow them to observe the race of both the homeowner and the appraiser in a setting where the appraiser’s valuation conveys critical information to the lender. They observe systematic lower appraised values relative to automated valuation model (AVM) estimates for minority-owned homes. However, they do not find evidence that minority valuation discounts vary with the race of the appraiser. After adjusting for potential bias in the AVM estimates, they find even larger minority valuation discounts. Read the paper here.
About the Presenter:
Moussa Diop is an Assistant Professor of Real Estate at the University of Southern California's Sol Price School for Public Policy. Diop most recently held the position of Assistant Professor of Real Estate and Urban Land Economics at the University of Wisconsin-Madison. He was also a Visiting Scholar, Consumer Finance Institute at the Federal Reserve Bank of Philadelphia and formerly the Vice President, Corporate banking for HSBC Bank.
Dr. Diop’s primary research focus is on the effects of regulations and real estate rental market outcomes and mortgage securitization, particularly the mortgage servicing industry. He has also examined the effects of corporate real estate ownership and market structure on firm risk and returns. He’s published in the Journal of Real Estate Finance and Economics, the Journal of Urban Economics, Economic Development Quarterly and Real Estate Economics, where he currently serves on the editorial board.
Dr. Diop received the Edwin S. Mills Real Estate Economics 2018 Best Paper Award, American Real Estate and Urban Economics Association, and the 2016 Outstanding Referee Award from Real Estate Economics. He was also the Homer Hoyt Institute Weimer School of Advanced Studies in Real Estate and Land Economics 2016 Postdoctoral Honoree.
In addition to his Ph.D., Dr. Diop earned an M.A. in economics from the Storrs School at the University of Connecticut, an MBA in finance from the University of Missouri-Columbia, and a B.S. in Civil Engineering from INSA-Lyon, France.
This event is open to members of the NYU community. Please register using this RSVP link.