Economists call a bridge a "lumpy good"—without the whole thing, one has nothing of value. Housing is a similarly lumpy commodity: a half-built house is not half as valuable as a complete dwelling. Law makes housing lumpy when it mandates minimum quality or sizes. Housing might be lumpy in larger senses too: its value might grow or shrink in dramatic ways depending on what other land uses are clustered with or near it or how long a household occupies a dwelling. Law professor Lee Fennell will explore the ways in which housing is lumpy and consider the implications for law and policy.
7:30 PM-8:00 PM: Registration and Networking
8:00 PM-9:00 PM: Presentation and Discussion
9:00 PM-9:30 PM: Reception
Lee Fennell (Speaker)
Lee Fennell is the Max Pam Professor of Law and Ronald H. Coase Research Scholar at the University of Chicago Law School. She joined the Law School faculty in 2007 and previously taught at the University of Texas and the University of Illinois and practiced at Pettit & Martin, the State and Local Legal Center, and the Virginia School Boards Association. Her teaching and research interests include property, torts, land use, housing, social welfare law, local government law, and public finance.
To learn more, read Fennell's 2009 book, The Unbounded Home: Property Values Beyond Property Lines (or read an ebook sample or PDF excerpts), or her articles "Property in Housing" (Academia Sinica Law Journal) and "Lumpy Property" (University of Pennsylvania Law Review).