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Slimprofits
04-24-08, 04:56 PM
Searching around on boston.com this afternoon for something else entirely, I came across this gem from the Boston Globe business section in August of 2005.

Business students flock to real estate (http://www.boston.com/news/nation/articles/2005/08/27/business_students_flock_to_real_estate?mode=PF)


Many of the nation's elite business schools say courses in commercial real estate -- a field that has generated little passion in the past -- are oversubscribed.

Students are flocking to take real estate development, management, and investment classes.

Business school real estate clubs, where students gather to study and swap job-hunting tips, are popping up and drawing crowds in the Boston area and beyond. As the technology sector matures and financial markets fetch smaller returns, real estate has become an appealing career path.

''It's a big industry, and it's an exciting industry," said Tim Walsh, 31, a student at Dartmouth College's Tuck School of Business. ''People throughout the school know that it's a hot industry."

Even business schools that have ignored real estate are hearing the siren song. Earlier this month, Mark P. Rice, dean of Babson College in Wellesley, a school that historically has stressed entrepreneurship, got an e-mail from the head of his development office urging him to consider a strategic initiative in real estate.

''It's on our agenda," Rice said. ''There's a lot of pressure from our alumni and our students to respond to the marketplace."

Most of the real estate curriculums at business schools are focused not on local residential markets, where many fear homes may be overvalued, but on the rapidly globalizing -- and suddenly more lucrative -- commercial real estate market.

Especially attractive are jobs in the private equity firms that invest in business parks, condominium complexes, and multiuse developments around the world. Also in demand are the financial firms where such properties are parceled into financial instruments -- such as mortgage-backed securities and real estate investment trusts -- and sold off in pieces like shares of stock to deep-pocket investors. Salaries at those firms have been rising as fast as office towers, leading some newly minted MBAs to peg real estate as the dot-com industry of the current decade.

''In 2000, everybody was flooding into the technology field," said Ani Vartanian, who earned an MBA from Harvard Business School in 2002 and is now an acquisition and asset manager for Rockwood Capital, a San Francisco private equity firm specializing in real estate investments. ''Now you're seeing the rush of talent into real estate."

Courses cover forbidding-sounding subjects such as real property asset management. Others focus on real estate strategy, investment, and pricing.

The rush has inspired some self-deprecating humor by business student graduates awash in warnings that the housing bubble might burst and fearing that their interest in real estate may be a sure sign that it has peaked.

''When you see Harvard students going into a field, it's a good contrarian indicator," Vartanian said in jest.

Real estate professors aren't surprised by the new popularity of their courses. Private equity outlays now total about $500 billion in mortgage-backed securities and about $200 billion in real estate investment trusts, said Arthur Segel, a Harvard business professor who has taught a commercial real estate course since 1996. ''That's changed the standards of the industry," he said.

Tony Ciochetti, chairman of Massachusetts Institute of Technology's Center for Real Estate, said the industry has become more complex and professional, offering a range of jobs beyond housing broker and mortgage lender.

''The students are looking around and saying, 'Wow, real estate's pretty cool,' " Ciochetti said. ''You've got securitized debt, you've got swaps, you've got futures, you've got hedges -- all the sophisticated financial tools are used in the real estate field now."

To land jobs as developers, acquisition analysts, dealmakers, or corporate real estate executives, students need an understanding of environmental issues and international markets -- subjects where business school coursework is still catching up with the changing demands of the marketplace.

''Increasingly, I'm telling my students they should go to places like Singapore," said Segel. ''The most interesting opportunities are in Asia and India. Real estate developers are swarming over those areas."

David Pyke, associate dean for the MBA program at Dartmouth's Tuck School, said the number of second-year students enrolling in a popular real estate course taught by professor John Vogel has grown from 75 in 1997 to more than 200 in 2004 out of a total of 240 students in the class. Interest was so high that Tuck last year added more sections. Vogel's classes also attract unenrolled walk-in students, some lured by the new romance of real estate or a desire to pick up some tips on flipping property.

''He packs them in," Pyke said. ''There are some students who want to go into real estate investing or real estate development, and there are others who just have a general interest because they might want to buy a house sometime. Some are doing it already. They come to Tuck and buy a house in Hanover [N.H.]. There's no way they're going to live somewhere for two years without making money on it."

The real estate club has mushroomed to about 85 members at Tuck. ''It's definitely the fastest-growing club over the past two years," said Walsh, who did a summer internship helping to manage commercial property for UBS Realty in Hartford.

At the Kellogg School of Management at Northwestern University, enrollment in a real estate course has tripled in five years, and there was a waiting list of 10 students last year.

''MBAs go where the jobs are, and real estate is the place to be," said Thomas Lys, a professor of real estate management at Kellogg. ''The salaries in real estate have risen considerably. Students who in the past would have considered anything less than Wall Street unacceptable may now be going into real estate."
Lys says students shouldn't ignore the risks, however.

''A cooling real estate industry would have a sobering effect," he said.

FRED
04-24-08, 05:27 PM
Reminds me of: In recent years, “Venture Capital and Private Equity (http://www.people.hbs.edu/jlerner/)” has consistently been one of the largest elective courses at Harvard Business School.

Perhaps not so large this year?

Spartacus
04-24-08, 06:28 PM
when I read the headline my first thought was, who are these students studying with?

Ed Begley,
Russ Whitney,
Tom Vu
and Carlton Sheets?

GOOD LUCK trying to do no money down now, even if you do succeed in doing the standard convincing (ripping off) an elderly couple to do some of these nothing-down schemes

zoog
04-24-08, 07:08 PM
Searching around on boston.com this afternoon for something else entirely, I came across this gem from the Boston Globe business section in August of 2005.

Business students flock to real estate (http://www.boston.com/news/nation/articles/2005/08/27/business_students_flock_to_real_estate?mode=PF)


Many of the nation's elite business schools say courses in commercial real estate -- a field that has generated little passion in the past -- are oversubscribed.
''In 2000, everybody was flooding into the technology field," said Ani Vartanian, who earned an MBA from Harvard Business School in 2002 and is now an acquisition and asset manager for Rockwood Capital, a San Francisco private equity firm specializing in real estate investments. ''Now you're seeing the rush of talent into real estate."So "everybody was flooding into the technology field" just about the time that bubble burst. Looks like commercial real estate will be busting soon.

santafe2
04-25-08, 02:37 AM
when I read the headline my first thought was, who are these students studying with?

Ed Begley,
Russ Whitney,
Tom Vu
and Carlton Sheets?

GOOD LUCK trying to do no money down now, even if you do succeed in doing the standard convincing (ripping off) an elderly couple to do some of these nothing-down schemes

I never knew Ed Begley had a reputation outside our industry. He's such a great cheerleader and true believer, but so wildly misguided, it's epic in its proportion. A year ago, he managed to mobilize most of the industry he supports, to oppose him.

Since I've never met the other three, it makes me wonder if they're really just scamming or completely misguided. Do they all just have a Jesus complex? Ed was, and maybe still is, supporting the biggest scam in the solar electric business but no amount of logic could change his point of view.

Here's a link to the MLM company he supports:
http://www.citizenre.com/web/index.php

If you take the time to search the site you'll see they claim that over 30,000 families have joined but in reality no systems have been deployed as they have no silicon contracts in place.

dbarberic
04-25-08, 08:03 AM
Perfect contrarian indicator. If students are still flocking to real estate classes, there is not enough blood in the street. Simply means we have plenty more to go to the downside.

friendly_jacek
04-25-08, 11:00 AM
Lets keep in mind the headline was from 2005.

Now, what the headlines are saying now about students flocking to?

friendly_jacek
04-25-08, 11:05 AM
Ha, ha, ha.

My google search showed this:

<table class="nestedTablePadded" border="0" cellpadding="0" cellspacing="0" width="100%"><tbody><tr><td align="left" valign="top">Title:</td><td>Business Students Flock to Courses on Electronic Commerce.</td></tr> <tr><td align="left" valign="top">Authors:</td><td>Mangan, Katherine S. (http://eric.ed.gov/ERICWebPortal/Home.portal;jsessionid=LRyRCzT8jchxwpMnysCpbfRTXTD T2y9hYT8Zpkvn7T7nypl4GQpL%211113075283?_nfpb=true&_pageLabel=ERICSearchResult&_urlType=action&newSearch=true&ERICExtSearch_SearchType_0=au&ERICExtSearch_SearchValue_0=%22Mangan+Katherine+S. %22)</td></tr> <tr><td align="left" valign="top">
</td><td>
</td></tr> <tr><td align="left" valign="top">Source:</td><td>Chronicle of Higher Education, v45 n34 pA25-A26 Apr 30 1999
</td></tr></tbody></table>

friendly_jacek
04-25-08, 11:13 AM
and this:

http://media.sustainableindustries.com/designimages/sij-in-this-issue-header.jpg
April 2008
Do green MBAs get green jobs? - by Melanie Schutt
The number of jobs in corporate social responsibility increased 37 percent over the past three years. As business students flock to specialized MBA programs, many start to wonder: Will their degree help them land one of the newly minted jobs? Successful graduates say the green job market's not so different from the rest of the working world. It's all about who you know

Slimprofits
04-25-08, 12:54 PM
I never knew Ed Begley had a reputation outside our industry. He's such a great cheerleader and true believer, but so wildly misguided, it's epic in its proportion. A year ago, he managed to mobilize most of the industry he supports, to oppose him.

Since I've never met the other three

I'm like Tom Vu, with yachts and mansions...

Ridiciulous infomercial review: Tom Vu (http://www.infomercial-hell.com/tom-vu/)

Tom Vu and His Babes

This video clip shows a typical segment from the Tom Vu infomercial. Scenes of Tom lounging on his yacht with chicks in bikinis are intercut with stiff testimonials from his "graduates."
PLAY (http://www.infomercial-hell.com/video/tom_vu_babes.wmv) - Length: 1:39