A conference on land supply monitoring and GIS will enhance our ability to monitor and disseminate information on land markets to public and private stakeholders. A second theme involves the causes and consequences of real estate cycles, such as inefficiencies in land supply, financing and construction. Some analysts argue that the Asian economic crisis is inextricably linked with national land policy and land markets. To advance our understanding of this issue, the Institute will be organizing two conferences on land market cycles and the causes of real estate booms and busts. The other two themes, segregation and urban vacant land, focus on contemporary issues resulting from failures in the land market that have important policy implications.
Segregation is both a reflection of and a contributor to land market inefficiencies.
We seek to understand more about its causes and consequences, as well as tools to ameliorate segregation based on research and experience in the United States, Latin America and other regions. Economic recovery and rising land prices have stimulated increased use of vacant and underutilized land, although lack of information, land assembly problems and preparation costs present significant obstacles to private-sector development. Furthermore, many abandoned urban sites are not competitive with suburban greenfields for industrial and commercial development. The Institute will continue to work with urban universities and community organizations for whom relocation is not an option to help them learn how to revitalize their neighborhoods. This program area is developed around five themes.