Faculty and ResearchExpert Guide

Zhenguo Lin

Zhenguo Lin

Hollo Research Fellowship

Associate Professor
Tibor and Sheila Hollo School of Real Estate

College of Business
Florida International University

FIU Downtown on Brickell
1101 Brickell Avenue, S 1100
Miami, FL 33131-3105

P: (305) 779-7898
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 received his PhD 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.

Based on the most recent ranking in real estate research, Dr. Lin was ranked 4th globally for the period of 2013-2017 (Saginor 2017, 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 290 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 Full Professor of Finance 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
  • Real Estate Finance

Refereed Journal Articles

Lin, Z., Liu, L. & Yang, J. (2018). (in press) Is the 2007-09 Housing Crisis a Correction to the Market?.  Real Estate Finance. 34 (4), 79-103.


Bian, X., Lin, Z. & Liu, Y. (2018). (in press) Bargaining, Mortgage Financing and Housing Price.  Journal of Real Estate Research.


Chen, J., Hu, M. & Lin, Z. (2018). (in press) Does Housing Unaffordability Crowd Out Elites in Chinese Superstar Cities?.  Journal of Housing Economics.


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


He, X., Lin, Z., Liu, Y. & Seiler, M. (2018). (in press) Search Benefit in Housing Markets: An Inverted U-Shaped Price and TOM Relation.  Real Estate Economics.


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


Cheng, P., Lin, Z. & Liu, Y. (2017). Optimal Portfolio Selection: the Role of Illiquidity and Investment Horizon.  Journal of Real Estate Research. 39 (4), 515-535.


Cheng, P., Lin, Z. & Liu, Y. (2017). Characteristics of Long-run Return and Risk: a Unified Performance Metric.  Journal of Real Estate Research. 39 (2), 165-187.


Lin, Z., Liu, Y. & Xie, J. (2016). Immigrants and Mortgages Delinquency.  Real Estate Economics. 44 (1), 198-235.


Johnson, K., Lin, Z. & Xie, J. (2015). Dual Agency Distortions in Real Estate Transactions.  Real Estate Economics. 51 (2), 507-536.


Cheng, P., Lin, Z. & Liu, Y. (2015). Racial Discrepancy in Mortgage Interest Rates.  Journal of Real Estate Finance and Economics. 51 (1), 101-120.


Cheng, P., Lin, Z., Liu, Y. & Seiler, M. (2015). The Benefit of Search in Housing Markets.  Journal of Real Estate Research. 37 (4), 597-622.


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), 1-22.


Cheng, P., Lin, Z. & Liu, Y. (2013). Performance of Thinly-traded Assets: a Case in Real Estate.  Financial Review. 48 (3), 511-536.


Cheng, P., Lin, Z. & Liu, Y. (2013). Liquidity Risk of Private Assets: the Other Side of the Market.  Financial Review. 48, 671-696.


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), 109-122.


Carter, C., Lin, Z., Allen, M. & Haloupek, W. (2013). Another Look at Effects of.  Journal of Real Estate Finance and Economics. 46, 115-130.


Cheng, P., Lin, Z. & Liu, Y. (2013). Is There a Real Estate Allocation Puzzle?.  Journal of Portfolio Management. 39, 61-74.


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, 250-263.


Lin, Z., Cheng, P. & Liu, Y. (2011). Do Women Pay More for Mortgages?.  Journal of Real Estate Finance and Economics. 43, 423-440.


Lin, Z., Cheng, P. & Liu, Y. (2011). Heterogeneous Information and Appraisal Smoothing.  Journal of Real Estate Research. 33, 443-469.


Lin, Z., Cheng, P. & Liu, Y. (2011). Property Delisting, Housing Cycle and Pricing Bias.  Journal of Housing Economics. 20, 152-157.


Cheng, P., Lin, Z., Liu, Y. & Zhang, Y. (2011). Has Real Estate Come of Age?.  Journal of Real Estate Portfolio Management. 17, 243-254.


Cheng, P., Lin, Z. & Liu, Y. (2010). Illiquidity and Portfolio Risk of Thinly-traded Asset.  Journal of Portfolio Management. 36, 126-138.


Lin, Z., Liu, Y. & Yao, V. (2010). Ownership Restriction and Housing Value: Evidence from American Housing Survey.  Journal of Real Estate Research. 32, 201-220.


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, 272-293.


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, 109-118.


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, 183-191.


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


Gao, A., Lin, Z. & Na, C. (2009). Housing Market Dynamics: Evidence of Mean Reversion and Downward Rigidity.  Journal of Housing Economics. 18, 256-266.


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, 813-843.


Lin, Z. & Liu, Y. (2008). Real Estate Return and Risk with Heterogeneous Investors.  Real Estate Economics. 36, 753-776.


Lin, Z. & Vandell, K. (2007). Illiquidity and Pricing Biases in the Real Estate Market.  Journal of Real Estate Finance and Economics. 35, 291-330.


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, 447-461.


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, 321-348.


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