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The American Real Estate and Urban Economics Association

American Real Estate and Urban Economics Association

Economics
Formation	1964
Purpose	publications of journals in real estate and the Urban Economics
Location	Nashville United States
Locations	404 BNA Drive #650
Official language	English
Leader	Crocker H. Liu
Website	www.areuea.org

The American Real Estate and Urban Economics Association (AREURA) was an organisation that commits to the promotion of research and development for real estate and urban economics serving as a leader in the field for more than four decades. It started as individual discussions held in various meetings by professionals and academics to a mega research association. The organisation’s members were compelled into researching real estate, economics, and planning. It has its headquarters in Nashville, Tennessee and is currently headed by its president, Crocker H. Liu.

Research Center (30173257360)

History

In 1964, a group of passionate academics in real estate came together to promote real estate into becoming a discipline in academics . The group was made of about 20 people some from the National Association of Real Estate Boards (NAREB) which a professionals’ organisation. The first meeting held to discuss the now AREUEA was held on the 7th of November in a University’s campus known as the Southern California . The academics joined the education committee at NAREB and started discussing how they would integrate the real estate with scholars and make it a subject or discipline in campuses.The committee often preferred holding their meetings in a local campus to provide an educational atmosphere to the association.

In the beginning, the association relied on the meetings held by the NAREB for them to discuss their real estate matters and this was not satisfactory to the academics and the professionals in real estate. This led to two of the academics, Halbert and George coming up with an idea of forming their organisation as real estates and stop depending on the NAREBB’s meetings to discuss their issue. The push by the two academics from the Indiana and Ohio State university led to a meeting that was held on the 29th of December in 1994 at an upcoming meeting by the Allied Science Associations (ASSA) in Chicago. During the ASSA meeting, the academics established an organisation and following a debate concerning the name for the association; they settled for American Real Estate Association (AREA). However, the name AREA brought up a lot of issues, and most academics felt that the name would make the organisation confused for others and another debate was started over the same until the current name AREUEA was adopted. The new name was however perceived to be difficult in pronunciation by some members while others believed that it would be objective in emphasising more on research and end the confrontations with the NAREB. The AREUEA grew tremendously from a small number of real estate professors to a vibrant and credible academic association.

Purpose

In the 1967 meeting attended by approximately fifty researchers and academics, the members adopted a constitution. The constitution clearly defined the purpose of the association which included promoting research in real estate as well as other allied fields among them the Urban Land Economics (ULC). It purposed to help in improvement and exchange of the real estate’s information and information of other related fields to facilitate effective teaching of the subject in universities. Furthermore, the Board of Directors is free to enact additional goals and purposes for the organisation if deemed necessary.The association was also meant to enhance collaboration between the real estate, ULC, and other allied field's researchers and the academics.The association implements its purpose through publications of their journals in real estate and other fields of relevance such as the Urban Economics .

In 1973,The AREUEA published their first journal and was subjected to editing in the subsequent years by different editors from the association until 2007. The journal’s name was changed to Real Estate Economics (REE) in 1995 by a co-editor Dennis Capozza. The journal has become one of the most influential real estate journals, and in 2008 it emerged position 94 out of the 208 economics journals. In the same year, the REE also was ranked 26th among the 48 journals in finance. The association has increasingly published manuscripts covering almost every aspect of real estate including the investments, commercial, finance real estates as well as urban economics and housing.

Conferences

The AREURA conferencing aids in establishing the best ways in which researchers can effectively ensure that the beneficiaries of their researched information concerning how people should make judgments based on urban economics as well as real estate finance and the body does meet three times annually. AREUEA has traditionally held 4 conferencing gatherings namely the Sponsored, and National as well as International.  The other one is AREUEA-ASSA.

Sponsored Conference

The information regarding real estate gets to spread in the market and to the targeted beneficiaries as far as the academic researches are concerned.

AREUEA-ASSA Conference

AREURA-ASSA conference held in January, which is done in collaboration with Allied Social Science Associations (ASSA). In addition to ASSA, there are other fifty five like-minded bodies whose members are in relatable professional fields that take part in this conference that takes three days.It is arguably large as it can even boast more than thirteen thousand people in attendance.

During the Conference, the organisers divide the sessions totalling twenty three and spread across the three days, which is the lifespan of the meeting. The sessions provide a platform through which those participating can register to continue as well as completed studies for which the audience might be unaware. The participants will be meeting to discuss the theoretical and empirical as well as policy research. The research is about the real estate and urban economics as well as real estate finance. Additional sessions can also be squeezed into the program to include, for example, Doctoral Session, in which learners get to exchange information with educators and researchers on how to plan, publish and carry out a study regarding their preferred professional fields.  Students can also get to share what they are researching on now to these distinguished academics.

In conjunction with the American Economic Association (AEA) and the American Finance Association (AFA), AREUEA has an annual session where they learned from each of the mentioned bodies come together to exchange ideas.  Since the current President of AREUEA is leaving, a Presidential Luncheon will be held on the last day of the meeting to honour him, and this will take a whole day. 

National Conference

National conference, participants are expected to submit paper submissions regarding the different areas of research they have conducted on real estate. The admissions may cover housing and urban economics, as well as finance. The other relevant aspects of the admissions may include commercial real estate investment and real estate assets and liabilities securitisation. Whereas there could be other engagements, this meeting is mainly held to provide a platform for the extensive presentation of researches. It is held in Washington DC especially and usually marks the end of the Memorial Day week celebrations.  Apart from bringing academic luminaries together, other stakeholders in real estate business get to share what they have.  

International Conference

In 1992, international conference organising it requires the input of committees comprising of domestic as well as international members. It also different in terms of goals as it emphasises global ones, the globalised topics on real estate as well as urban economics.

Awards

For the compliant individuals, the Association issues numerous awards as its Board and the existent by-laws may deem fit.

Edwin Mils Best Paper Award Recipients

It is given in January during the presidential luncheon session of the AREUEA-ASSA Conference. In this case, the Publications Committee selects deserving beneficiaries based on their outstanding work.

George Bloom Service Award& Recipients

The George Bloom Award which goes to the members of AREUEA, especially those that have exhibited exemplary work performance to the Body.

Homer Hoyt Doctoral Dissertation Award

The AREURA award for the Ph.D. dissertation by the Homer Hoyt Institute.

John M. Quigley Medal for Advancing Real Estate and Urban Economics

John M. Quigley Medal for Advancing Real Estate and Urban Economics which is John gets to recognise the person with the most appealing presentation displaying an advancement regarding one of the areas of his studies such as real estate, urban economics among others. To ensure its continuity, a hundred thousand dollars has been set aside to take care of the travel costs for the beneficiaries who are often mandated to give speeches. It is noteworthy that John was a president of this Association, and this award is meant to honour him.

Quigley Fund

The AREURA maintains a fund named after one of its former presidents, John M. Quigley, to promote championing ingenuity to find solutions that matter.

Board Members

AREUEA has a Board of Directors whose mandate is to give the Association the necessary knowledge it requires to function. The Board is made up of 23 members with a maximum term of three years. The members can be individuals or associations.

Publications

Journals

Its first journal was published in 1973, the AREUEA publications have become influential over the years, reaching more than eight thousand academics, finance, and institutions of finance, among other things.  The most notable of its writings is the Real Estate Economics, which was initially referred to as Journal of the American Real Estate and Urban Economics Association. This leading publication is meant to ensure effective information exchange among the scholars and professionals in real estate, enhance analysis necessary for theoretical framework development and to organise institutions that can help to improve the decisions made within this sector. It must be that some people use it as a platform to air their research findings.

Newsletter

The newsletter consists of AREURA news-bytes meant to highlight the things that the organisation is supposed to carry out.

Memberships

The membership is open, and is mandated with voting which they can do through electronic balloting and has one membership meeting to attend every year. The members get to contribute a fee so that they can continue being members.

Academic Member - one who teaches or used to teach, is or was a researcher on real estate and related areas at recognized higher learning, research and government institutions.

Professional Members - who work or used to work in fields related to real estate.

Sponsorship- Board of Directors choose firms, universities or organisations to sponsor the activities of the Association.

Student Members- for learners from accredited learning institutions.

Honorary Members- awarded honorary through the election of individuals as Lifetime honorary members and this can only be possible with the approval of the majority of the Board of Directors.