The Wisconsin Real Estate Program is thrilled to welcome So Hye Yoon as an Assistant Professor in the Department of Real Estate and Urban Land Economics at the Wisconsin School of Business.
Yoon received her Ph.D. in Economics from Princeton University in 2026. Her research sits at the intersection of industrial organization and real estate, using structural economic models to explore how information, regulation, and strategic behavior shape housing and urban markets.
“So Hye brings an exciting new dimension to our real estate faculty,” said Chris Timmins, Chair of the Department of Real Estate and Urban Land Economics. “Her research tackles important questions facing housing and real estate markets today, from the growing role of technology and artificial intelligence in real estate, regulation and housing supply. We are delighted to welcome her to Wisconsin and look forward to the contributions she will make to our students, our research community and the broader real estate industry.”
Yoon’s paper on job markets examines why algorithmic home-buying platforms have struggled to achieve profitability. Her research demonstrates how private information held by home sellers can create adverse selection and explores innovative approaches, including contract design and applications of large language models, that could help intermediaries price homes more accurately.
Her broader research examines how private equity developers navigate rezoning and permitting processes with local governments, as well as how small businesses adjust their operations in response to labor market frictions.
Yoon’s research has been presented at meetings of the Econometric Society and the Urban Economics Association, and her coauthored research on platform tying has appeared in the Journal of Economics & Management Strategy.
We welcome So Hye to the Wisconsin Real Estate community and look forward to the fresh perspectives she will bring to our students, faculty, alumni and industry partners.
Learn More About So Hye Yoon
What are you most excited about as you join the Wisconsin Real Estate Program, and what drew you to Wisconsin?
The Wisconsin Real Estate Program has a long tradition of taking real estate seriously as its own field, and I feel fortunate to be joining it. I am excited to work with faculty and students on research, to learn from the industry professionals who are so closely connected to the program, and to take part in events, meetings, and property tours that will give me a firsthand sense of how these markets actually operate.
Tell us a little about your research and professional interests. What questions or issues in real estate are you most interested in exploring right now?
My research examines how institutions and information frictions shape outcomes in real estate markets. My job market paper studies why algorithmic buyers in the residential market have struggled with profitability, showing that seller-side private information about hassle costs and unobserved house quality creates adverse selection, and proposing contract redesigns and the use of large language models to help intermediaries price more accurately. I also study how private equity developers negotiate with local governments during rezoning and permitting.
Right now, I am interested in private equity’s growing role across real estate, the ways construction and land use regulation shape what gets built, the function financial intermediaries in housing transactions,and applications of AI in this space.
What are you most looking forward to about working with Wisconsin Real Estate students, both in and outside the classroom?
I am excited to explore the evolving questions in real estate together with students. I am also interested in how AI can be applied to real estate, from reading unstructured data to thinking about how algorithms can reshape transactions, and I would enjoy talking through those questions with students who are curious about where the field is heading. Outside the classroom, I look forward to talking with students about their own interests and career paths, and to learning from the industry connections and perspectives they bring back to the program.
When you’re not teaching or doing research, what’s something you enjoy doing that our students and alumni might be surprised to learn about you?
I make digital art (photo on the left), though not as often as I would like since it means more screen time after a full day on my laptop. I’ve attached one of my favorite pieces here. I also enjoy musicals, golf and learning about wine.