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Department of Land Economy

Environment, Law & Economics

I use quantitative methods to study how households make their (housing) investment decisions, which factors play into these decisions and what the outcomes are, to better understand what determines demand for housing and financial investment. A lot of my research is inherently policy relevant. 

My research interests span various topics: the value of aesthetics in the built environment, the role of households' preferences in housing and financial investment and tenure choice, and long-run trends in housing markets. Currently, I am intrigued by preferences, attitudes and beliefs, such as risk aversion or expectations, and how they translate into financial and housing decisions.

I mostly teach in the undergrad programme: mathematics (Paper 3), fundamentals of finance and investment (Paper 6) and various bits and pieces in real estate finance (Paper 15 and RE01). I have introduced lectures on households' decision-making in the Tripos and MPhil in REF programmes to give students an idea of how traditional finance theories play out (or don't) in the household context.

Follow me on Twitter and Mastodon.


Housing economics and finance

Household finance

Behavioural finance

Historical housing


Key publications: 

Bartsch, F., Buhlmann, F., Kirschenmann, K. and Schmidt, C. (2021). Is there a need for reverse mortgages in Germany? Empirical evidence and policy implications. EconPol Policy Report 31, April 2021.

Schmidt, C. (2021). Strong tenant protections and subsidies support Germany’s majority-renter housing market. Brookings Institution brief. In "Comparing Rental Housing Markets Across the Globe", Jenny Schuetz, series editor. Washington DC: Brookings Institution.

Schmidt, C. (2019). The quest for affordable owner-occupied housing in Germany. Journal of European Real Estate Research 12(3), 365-379

Teaching and Supervisions


Paper 3 (Maths Refresher)

Paper 3 (Maths)

Paper 6 (Fundamentals of Finance and Investment)

Paper 15 (Advanced Techniques in Finance and Investment for Real Estate)

RE01 (Corporate Finance and Real Estate)

REM2 (Research Methods)

Other Professional Activities

Fellow of the Cambridge University Land Society (CULS) and Cambridge Land Economy Advisory Board (CLEAB)

Junior Research Associate at ZEW Mannheim

Member of the Scientific Board of the Real Estate and Capital Markets Network (ReCapNet) Conference

Member of the Editorial Board of the German Journal of Real Estate Research [Zeitschrift für Immobilienökonomie]