In a hot market, Temple University’s Fox School of Business launches a new master’s program so students can learn how to build wealth through real estate without getting burned.
PHILADELPHIA, June 10, 2021 — Even if you’re not buying or selling, you know one thing: Right now, real estate is hot.
With TV shows like the Property Brothers and Flip or Flop, you may think flipping houses is a great way to make a quick buck. But without the right tools and knowledge, you’re more likely to get burned than get lucky, says David J. Wilk, MAI, CRE, FRICS, director of the Temple Fox Real Estate Center and assistant professor of finance.
“Real estate is the single largest component of wealth in our society,” says Wilk. “But it’s not just bricks and sticks. It is integral to people’s lifestyle, self-esteem and personal happiness.”
From suburban homes to commercial properties, real estate has been drastically altered by the COVID-19 pandemic. In-demand housing has made home prices soar while work-from-home policies have left office buildings vacant. This seismic shift has been felt across the country, but each unique community has a different story to tell.
To help graduate students take advantage of real estate as both an asset and driver of change, Temple University’s Fox School of Business has launched the Master of Science in Real Estate (MSRE).
“The reason why we set up our master’s program is to empower people to build wealth through real estate,” says Wilk. “We start by teaching them to be analytical and financially savvy. But then we teach them how to be value creators.”
The fully online master’s program is designed for students who realize the need to understand the complexities of real estate in order to make informed decisions and, ultimately, profit from it. The program will also teach students to optimize underutilized real estate assets and human capital through a curriculum dedicated to real estate issues and informed by an advisory board of industry leaders.
“Our program will offer everything our competitors are teaching—investment, finance, valuation, construction—but our secret sauce will be teaching students how real estate can be used as a way to transform undervalued communities and assets,” says Wilk. “The program will focus on innovation, inclusion, infrastructure and optimization.”
The program’s structure is significantly influenced by Wilk’s lifelong commitment to diversity, inclusion and social impact. He believes that real estate markets should be open to everyone. To Wilk, real estate is the “currency for inclusive economic development,” an avenue for creating communities with equal access to necessities like public health, food, great education and public safety.
“As a graduate of the Fox School of Business, and having the good fortune of spending my career in the real estate field, I am thrilled to see this program take off, and for Temple to continue its leadership in real estate academia with the new MSRE program at our business school. I am even more excited to share my career experiences through teaching our students in the program,” says Mitchell Morgan, FOX ’76, LAW ’80, chairman of the Temple University Board of Trustees.
The program will leverage expertise from industry leaders like Morgan, founder and CEO of one of the country’s largest apartment companies, who will teach a class on Institutional Investment Management. Other instructors in the program include Robert Fahey, the Real Estate Center Advisory Board chair and a member of the Fox School’s Board of Visitors; Dominique Casimir, MBA; Ernst Valery; Sara Toner, Esq.; Joe Pasquarella, MAI, CRE, FRICS; and Joseph G. Nahas, Jr., CRE, alongside Wilk and Assistant Academic Director Bob Rajewski, CRE, FRICS.
“We are thrilled that our real estate program is a catalyst for economic development and infrastructure,” says Ron Anderson, dean of the Fox School of Business. “This program is emblematic of our Strategic Plan, tying together Educational Innovation with expert research for the betterment of a more equitable community. I hope this will especially benefit our North Philadelphia neighborhood.”
A special symposium, hosted by the Temple Fox Real Estate Center, will be held on Thursday, June 24 from 8:30 a.m. to 12:00 p.m. via Zoom. Two panels of experts will discuss topics such as real estate asset and workplace optimization, generating inclusive impact through innovation in “place-making” and advancing transformational infrastructure strategies. The free event offers participants a preview of the master’s program. Register here.
“Philadelphia can be a pioneer in the city as Temple leads the way in neighborhood reimagination and inclusion,” Wilk says. “That’s the dream.”
ABOUT THE FOX SCHOOL OF BUSINESS
The vision of Temple University’s Fox School of Business is to transform student lives, develop leaders, and impact our local and global communities through excellence and innovation in education and research.
The Fox School’s research institutes and centers as well as 200+ full-time faculty provide access to market-leading technologies and foster a collaborative and creative learning environment that offers more than curriculum—it offers an experience. Coupled with its leading student services, the Fox School ensures that its graduates are fully prepared to enter the job market.
The flexibility and responsiveness of our knowledge-creating research faculty allow the school to address the needs of industry and generate courses and programs in emerging fields. As a leader in business research, the Fox School values interdisciplinary approaches and translational research that influence and impact real-world problems. Our research informs an adaptive curriculum, supports innovation in teaching and prepares students for the ever-changing business environment.