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David R. Barker | |
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![]() Barker in 2008 | |
Born | May 7, 1961 |
Alma mater | University of California, Berkeley University of Chicago |
Occupation | Economist |
Title | Regent, Board of Regents, State of Iowa |
Spouse | Sarah Richardson |
David R. Barker (born May 7, 1961) is an American author, academic, businessman, and politician, who began serving as a regent on the Board of Regents of the State of Iowa on May 1, 2019. [1] A former economist for the Federal Reserve, Barker operates a real estate and finance company [2] and is an Iowa Republican Party official. [3] His academic research has been covered in print and broadcast media including Marketplace , [4] As It Happens , [5] The Economist , [6] Time , [7] and The New York Times . [8] He has also written for U.S. News & World Report , [9] The Christian Science Monitor , [10] Collier's , [11] and other publications.
David Barker is a sixth-generation Iowan. He graduated from Iowa City West High School, then received a B.A. from the University of California at Berkeley, and an M.A. and Ph.D. in economics from the University of Chicago. [2] He also attended the London School of Economics during his junior year of college.
After completing graduate school Barker worked as an economist at the Federal Reserve Bank of New York, helping to develop an early warning system for failing banks and methods to detect racial discrimination in mortgage lending, as well as conducting analysis of the Basel Accord capital requirements.
After moving back to Iowa in 1994, Barker taught real estate and corporate finance at the University of Iowa as an adjunct professor. [12] [13] [14] In 1997 he began teaching real estate to MBAs at the University of Chicago, which he continued to do until 2007. Barker also taught urban economics to undergraduates at the University of Chicago for several years. He has also taught at CIMBA in Paderno del Grappa, Italy. [15]
Barker's academic research covers a variety of topics, including real estate markets, urban economics, terrorism insurance, health economics, business ethics, economic history, and libertarian political economy.
A 2009 paper on the effects of home ownership on children received widespread attention. It argued that previous academic work showing positive effects of home ownership on children's test scores and behavior failed in adequately controlling for factors other than home ownership and that when they are taken into account, home ownership has no economically or statistically-significant effects. [16] [17]
A paper analyzing the economics of the 1867 Alaska Purchase by the US from Russia argued that the financial returns to the federal government, tax revenue minus administrative costs, have been lower than alternative investments with similar risk. [18] [19]
Barker is the author of Welcome to Free America, [20] [21] a book set in 2057 as a guide to immigrants coming to the former United States after the collapse of government. It describes a difficult period of transition, but eventually, private companies take over functions previously performed by governments, such as security, dispute resolution, production of money and infrastructure, and national defense. The result is a society that is different, in many ways, from today. [22] Barker stated that he does not advocate the elimination of government and that his book is only an attempt to explore where libertarian ideas might lead. According to him, the result could be considered by different people to be a utopia or a dystopia. [23] [20]
Barker was a delegate to the Republican National Convention in Cleveland in 2016. [24] He is also a member of the State Central Committee of the Republican Party of Iowa [3] and was appointed to the Executive Council of the Empower Rural Iowa Initiative by Governor Kim Reynolds. [25]
Barker's companies own over 2,000 apartments in the Midwestern United States, along with office buildings, self-storage facilities, and convenience stores. Barker is also president of Barker Financial, which makes commercial loans. [26] Barker has also constructed new apartments. [27] In 2017 and 2018 Barker completed historic renovation projects in Marion, Iowa, [28] Fort Madison, Iowa, [29] and Fond du Lac, Wisconsin, [30] and a $20.4 million purchase of apartments in Little Rock, Arkansas. [31]
The University of Northern Iowa (UNI) is a public university in Cedar Falls, Iowa, United States. UNI offers more than 90 majors across five colleges. The fall 2023 total enrollment was 9,021 students.
Jennings is a city in, and the parish seat of, Jefferson Davis Parish, Louisiana, United States, near Lake Charles. The population was 10,383 at the 2010 census, a small decline from the 2000 tabulation.
Private property is a legal designation for the ownership of property by non-governmental legal entities. Private property is distinguishable from public property, which is owned by a state entity, and from collective or cooperative property, which is owned by one or more non-governmental entities. John Locke described private property as a Natural Law principle arguing that when a person mixes their labor with nature, the labor enters the object conferring individual ownership.
The University of Iowa is a public research university in Iowa City, Iowa, United States. Founded in 1847, it is the oldest university in the state. The University of Iowa is organized into 12 colleges offering more than 200 areas of study and 7 professional degrees.
Terrorism insurance is insurance purchased by property owners to cover their potential losses and liabilities that might occur due to terrorist activities.
Owner-occupancy or home-ownership is a form of housing tenure in which a person, called the owner-occupier, owner-occupant, or home owner, owns the home in which they live. The home can be a house, such as a single-family house, an apartment, condominium, or a housing cooperative. In addition to providing housing, owner-occupancy also functions as a real estate investment.
Dana College was a private college in Blair, Nebraska. Its rural 150-acre campus is approximately 26 miles (40 km) northwest of Omaha and overlooks a portion of the Missouri River Valley. It closed in 2010.
Real estate economics is the application of economic techniques to real estate markets. It aims to describe and predict economic patterns of supply and demand. The closely related field of housing economics is narrower in scope, concentrating on residential real estate markets, while the research on real estate trends focuses on the business and structural changes affecting the industry. Both draw on partial equilibrium analysis, urban economics, spatial economics, basic and extensive research, surveys, and finance.
Kinnick Stadium is a stadium located in Iowa City, Iowa, United States. It is the home stadium of the University of Iowa Hawkeyes football team. Opened in 1929 as Iowa Stadium to replace Iowa Field, it currently holds up to 69,250 people, making it the 7th largest stadium in the Big Ten, and one of the 20 largest university owned stadiums in the nation. Primarily used for college football, the stadium is named for Nile Kinnick, the Iowa player who won the 1939 Heisman Trophy and died in service during World War II. Kinnick Stadium is the only college football stadium named after a Heisman Trophy winner.
A real-estate bubble or property bubble is a type of economic bubble that occurs periodically in local or global real estate markets, and it typically follows a land boom. A land boom is a rapid increase in the market price of real property such as housing until they reach unsustainable levels and then declines. This period, during the run-up to the crash, is also known as froth. The questions of whether real estate bubbles can be identified and prevented, and whether they have broader macroeconomic significance, are answered differently by schools of economic thought, as detailed below.
The Daily Iowan is an independent, 6,500-circulation student newspaper serving Iowa City and the University of Iowa community. During the 2020–2021 academic year The Daily Iowan transitioned from printing daily to producing a print edition of the paper twice a week and publishing stories online daily. It has consistently won a number of collegiate journalism awards, including six National Pacemaker Awards in 2000, 2001, 2006, 2008, 2013, and 2020. The Daily Iowan was named Newspaper of the Year by the Iowa Newspaper Association four times, including in 2020 and 2021.
The homeownership rate in the United States is the percentage of homes that are owned by their occupants. In 2009, it remained similar to that in some other post-industrial nations with 67.4% of all occupied housing units being occupied by the unit's owner. Homeownership rates vary depending on demographic characteristics of households such as ethnicity, race, type of household as well as location and type of settlement. In 2018, homeownership dropped to a lower rate than it was in 1994, with a rate of 64.2%.
Robert James Shiller is an American economist, academic, and author. As of 2022, he served as a Sterling Professor of Economics at Yale University and is a fellow at the Yale School of Management's International Center for Finance. Shiller has been a research associate of the National Bureau of Economic Research (NBER) since 1980, was vice president of the American Economic Association in 2005, its president-elect for 2016, and president of the Eastern Economic Association for 2006–2007. He is also the co‑founder and chief economist of the investment management firm MacroMarkets LLC.
A home mortgage interest deduction allows taxpayers who own their homes to reduce their taxable income by the amount of interest paid on the loan which is secured by their principal residence. The mortgage deduction makes home purchases more attractive, but contributes to higher house prices.
Jerome Bertram Komisar is an American economist and academic administrator most notable for serving as President of the University of Alaska.
Observers and analysts have attributed the reasons for the 2001–2006 housing bubble and its 2007–10 collapse in the United States to "everyone from home buyers to Wall Street, mortgage brokers to Alan Greenspan". Other factors that are named include "Mortgage underwriters, investment banks, rating agencies, and investors", "low mortgage interest rates, low short-term interest rates, relaxed standards for mortgage loans, and irrational exuberance" Politicians in both the Democratic and Republican political parties have been cited for "pushing to keep derivatives unregulated" and "with rare exceptions" giving Fannie Mae and Freddie Mac "unwavering support".
Real estate in China is developed and managed by public, private, and state-owned red chip enterprises.
Zacharia Wahls is an Iowa state senator for the 43rd District, and American LGBTQ+ activist and author.
Susan M. Wachter is the Albert Sussman Professor of Real Estate, and Professor of Finance at The Wharton School of the University of Pennsylvania, the Director for the Wharton GeoSpatial Initiative and Lab, and the co-director of the Penn Institute for Urban Research. She also co-directs the Spatial Integration Laboratory for Urban Systems at the University of Pennsylvania. As an economist, she is frequently sought for comment on real estate market trends in well known media outlets—a recent interview with the International Monetary Fund summarizes her views and research.
The Canadian property bubble refers to a significant rise in Canadian real estate prices from 2002 to present. The Dallas Federal Reserve rated Canadian real estate as "exuberant" beginning in 2003. From 2003 to 2018, Canada saw an increase in home and property prices of up to 337% in some cities. In 2016, the OECD warned that Canada's financial stability was at risk due to elevated housing prices, investment and household debt. By 2018, home-owning costs were above 1990 levels when Canada saw its last housing bubble burst. Bloomberg Economics ranked Canada as the second largest housing bubble across the OECD in 2019 and 2021. Toronto scored the highest in the world in Swiss bank UBS' real estate bubble index in 2022, with Vancouver also scoring among the 10 riskiest cities in the world.