Back to school

By: J. David Chapman/August 24, 2023

I am writing this week’s column from my 86-year-old office in Thatcher Hall on the University of Central Oklahoma campus. Gazing out my window, I have a view overlooking Broncho Lake and a stunning view of Old North – the oldest higher education building in Oklahoma. I started yet another school year teaching real estate to intelligent, young college students eager to learn the ins and outs of real estate. I am teaching Real Estate Principles, Property Management, and Real Estate Practice. Dr. William Pratt is teaching our Real Estate Investment course, Matthew Trimble is teaching Real Estate Appraisal, and Darrell Beavers teaches Real Estate Principles as well as Real Estate Finance. I am blessed to have knowledgeable and passionate colleagues providing such a robust real estate program.

There was big news over the summer at UCO. Todd G. Lamb, J.D., became the University of Central Oklahoma’s 22nd president on July 1. For Lamb and his wife, Monica, this marks a new chapter in a distinguished career that spans public service, statewide elected office, private law practice, and business ownership. There is a sense of optimism on campus with reports of increased enrollment.

The week before class, I always reflect on where we are in the real estate cycle and what the burning issues are that we need to be discussing in class. This semester, there are plenty of issues and situations to discuss in the classroom.

The first topic is inflation and interest rates. We will be studying what real estate investments are most affected by the cost of financing and how to offset this effect. We will continue to teach students the value of properties with tax increment financing and properties in opportunity zones to overcome and counter the effects of higher interest rates and inflated pricing.

Secondly, rentals are overtaking homeownership. More and more Americans are becoming renters, and the need for professional ownership and management for these assets is growing. This is creating unprecedented demand for property management courses. The UCO Real Estate Program is providing these professionals to the industry. Our investment course, coupled with the property management, is just in time for the upcoming situation.

I hope that you will contact me, and I will try to find a way for you to participate with our students as they embark on their careers in our industry.

J. David Chapman is a professor of finance and real estate at the University of Central Oklahoma (jchapman7@uco.edu).