Faculty and ResearchExpert Guide

Zhenguo Lin

Zhenguo Lin

Hollo Research Fellowship

Professor
Tibor and Sheila Hollo School of Real Estate

College of Business
Florida International University

FIU Downtown on Brickell
1101 Brickell Avenue
Miami, FL 33131-3105

P: (305) 779-9248
E: zlin@fiu.edu

Curriculum Vitae

Education

  • Doctor
    University of Wisconsin-Madison

Areas of Expertise

  • Real Estate Liquidity
  • Portfolio Risk of Thinly-traded Assets
  • Housing Market Dynamics
  • Racial and Gender Discrimination in Mortgage Markets
  • Immigrants and Mortgage Delinquency

Professional Activities

Dr. Zhenguo (Len) Lin is a Professor and Hollo Research Fellow at Florida International University. He received his Ph.D. from University of Wisconsin, Madison. His research is mainly focused on pricing illiquidity of private assets, mortgage markets, and housing market dynamics. His work has been cited by Federal Reserve, Department of the Treasury, Department of Housing and Urban Development (HUD), and National Affairs. His work has also appeared on several financial media outlets, including MarketWatch, Wall Street Journal-Smart Money, Yahoo Finance, Fox Business News, and the South Florida Business Journal.

Dr. Lin was ranked 3rd globally for the period of 2014-2018 based on the most recent ranking in real estate research (Saginor 2018, Journal of Real Estate Literature). In 2013, he received the William N. Kinnard Young Scholar Award, an international recognition for making significant contributions in his field. His recent studies include immigrants and mortgage delinquency as well as racial discrimination in mortgage costs. His work “Spillover Effects of Foreclosures on Neighborhood Property Values”, which appeared in the 2009 Journal of Real Estate Finance and Economics, has proven invaluable in predicting the recent housing crisis. The paper has been heavily cited by over 320 academic studies. It has also garnered much recognition outside of the academic community - the paper was cited by former Federal Reserve Chairman Ben Bernanke in his speech at the Global Financial Literacy Summit on June 17, 2009 in Washington, DC.

Prior to joining the faculty of Florida International University, Dr. Lin was a Professor and Associate Director of Real Estate and Land Use Institute at California State University, Fullerton. He also taught at Mississippi State University and worked as Sr. Economist at Fannie Mae.

 

Courses Taught

  • Advanced Real Estate Investment Valuation
  • Corporate Finance
  • Global Real Estate Capital Markets
  • Real Estate Finance

Refereed Journal Articles

Beracha, E., Freybote, J., & Lin, Z. (2019). The Determinants of the Ex Ante Risk Premium in Commercial Real Estate. Journal of Real Estate Research. (Accepted)


Chen, J., Hu, M., & Lin, Z. (2019). Does Housing Unaffordability Crowd Out Elites in Chinese Superstar Cities? Journal of Housing Economics. (Accepted)


Chen, J., Hu, M., & Lin, Z. (2019). Housing Reform in China and Labor Market Participation. Journal of Real Estate Finance and Economics. (Accepted)


Cheng, P., Lin, Z., & Liu, Y. (2019). Price Discovery with Heterogeneous Sellers in Real Estate. Journal of Real Estate Research. (Accepted)


He, X., Lin, Z., Liu, Y., & Seiler, M. (2019). Search Benefit in Housing Markets: An Inverted U-Shaped Price and TOM Relation. Real Estate Economics. (Accepted)


Lacour-Little, M., Lin, Z., & Yu, W. (2019). Assumable Financing Redux: A New Challenge for Appraisal? Journal of Real Estate Finance and Economics. (Accepted)


Bian, X., Lin, Z., & Liu, Y. (2018). House Price, Loan-to-Value Ratio and Credit Risk. Journal of Banking & Finance, 92(July).


He, X., Lin, Z., & Liu, Y. (2018). Volatility and Liquidity in the Real Estate Market. Journal of Real Estate Research, 40(4).


Bian, X., Lin, Z., & Liu, Y. (2018). Bargaining, Mortgage Financing and House Prices. Journal of Real Estate Research, 40(3).


Lin, Z., Liu, L., & Yang, J. (2018). Was the 2007~09 Housing Crisis a "Correction" to the Market? Real Estate Finance, 34.


Cheng, P., Lin, Z., & Liu, Y. (2017). Optimal Portfolio Selection: The Role of Illiquidity and Investment Horizon. Journal of Real Estate Research, 39(4).


Cheng, P., Lin, Z., & Liu, Y. (2017). Characteristics of Long-run Return and Risk: A Unified Performance Metric. JOURNAL OF REAL ESTATE RESEARCH, 39.


Lin, Z., Liu, Y., & Xie, J. (2016). Immigrants and Mortgages Delinquency. Real Estate Economics, 44(1).


Cheng, P., Lin, Z., Liu, Y., & Seiler, M. (2015). The Benefit of Search in Housing Markets. Journal of Real Estate Research, 37(4).


Johnson, K., Lin, Z., & Xie, J. (2015). Dual Agency Distortions in Real Estate Transactions. Real Estate Economics, 51(2).


Cheng, P., He, X., Lin, Z., & Liu, Y. (2015). Market Risk Factor and the Weighted Repeated Sales Method. Journal of Real Estate Research, 37(1).


Cheng, P., Lin, Z., & Liu, Y. (2015). Racial Discrepancy in Mortgage Interest Rates. Journal of Real Estate Finance and Economics, 51(1).


Cheng, P., Lin, Z., & Liu, Y. (2013). Performance of Thinly-traded Assets: A Case in Real Estate. Financial Review, 48(3).


Lin, Z., Allen, M., & Carter, C. (2013). Pet Policy and Housing Prices: Evidence from the Condominium Market. Journal of Real Estate Finance and Economics, 47(1).


An, Z., Cheng, P., Lin, Z., & Liu, Y. (2013). How do Market Conditions Impact Price-TOM Relationship? Evidence from Real Estate Owned (REO) Sales. Journal of Housing Economics, 22.


Carter, C., Lin, Z., Allen, M., & Haloupek, W. (2013). Another Look at Effects of. Journal of Real Estate Finance and Economics, 46.


Cheng, P., Lin, Z., & Liu, Y. (2013). Is There a Real Estate Allocation Puzzle? Journal of Portfolio Management, 39.


Cheng, P., Lin, Z., & Liu, Y. (2013). Liquidity Risk of Private Assets: The Other Side of the Market. Financial Review, 48.


Cheng, P., Lin, Z., Liu, Y., & Zhang, Y. (2011). Has Real Estate Come of Age? Journal of Real Estate Portfolio Management, 17.


Lin, Z., Cheng, P., & Liu, Y. (2011). Do Women Pay More for Mortgages? Journal of Real Estate Finance and Economics, 43.


Lin, Z., Cheng, P., & Liu, Y. (2011). Heterogeneous Information and Appraisal Smoothing. Journal of Real Estate Research, 33.


Lin, Z., Cheng, P., & Liu, Y. (2011). Property Delisting, Housing Cycle and Pricing Bias. Journal of Housing Economics, 20.


Cheng, P., Lin, Z., & Liu, Y. (2010). Home Price, Time-on-market, and Seller Heterogeneity under Changing Market Conditions. Journal of Real Estate Finance and Economics, 20.


Cheng, P., Lin, Z., & Liu, Y. (2010). Illiquidity and Portfolio Risk of Thinly-traded Asset. Journal of Portfolio Management, 36.


Cheng, P., Lin, Z., & Liu, Y. (2010). Illiquidity, Transaction Cost, and Optimal Holding Period for Real Estate: Theory and Application. Journal of Housing Economics, 19.


Lin, Z., Liu, Y., & Yao, V. (2010). Ownership Restriction and Housing Value: Evidence from American Housing Survey. Journal of Real Estate Research, 32.


Gao, A., Lin, Z., & Na, C. (2009). Housing Market Dynamics: Evidence of Mean Reversion and Downward Rigidity. Journal of Housing Economics, 18.


Lin, Z., Liu, Y., & Vandell, K. (2009). Marketing Period Risk in a Portfolio Context: Comment and Extension. Journal of Real Estate Finance and Economics, 38.


Lin, Z., Rosenblatt, E., & Yao, V. (2009). Spillover Effects of Foreclosures on Neighborhood Property Values. Journal of Real Estate Finance and Economics, 38.


Cheng, P., Lin, Z., & Liu, Y. (2008). A Model of Time-on-Market and Real Estate Price under Sequential Search with Recall. Real Estate Economics, 36.


Lin, Z., & Liu, Y. (2008). Real Estate Return and Risk with Heterogeneous Investors. Real Estate Economics, 36.


Bond, S., Hwang, S., Lin, Z., & Vandell, K. (2007). Marketing Period Risk in a Portfolio Context: Theory and Empirical Estimates from the UK Commercial Real Estate Market. Journal of Real Estate Finance and Economics, 34.


Lin, Z., & Vandell, K. (2007). Illiquidity and Pricing Biases in the Real Estate Market. Journal of Real Estate Finance and Economics, 35.


Shilling, J., Vandell, K., Koesman, R., & Lin, Z. (2006). How Tax Credits Have Affected the Rehabilitation of the Boston Office Market. Journal of Real Estate Research, 28.


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