The director of the University of Southern California Lusk Center for Real Estate, Richard Green, is poised to take over Edward Golding’s senior advisor position at the U.S. Department of Housing and Urban Development (HUD) beginning July 1, according to a press release by the Lusk Center.
Golding, who took over from Biniam Gebre as the leader of HUD after a stint as an executive at Freddie Mac, recently became head of the Federal Housing Administration, leaving the senior advisor position at HUD open for Green.
Green had a similar background as his predecessor, as he also was involved with Freddie Mac earlier in his career as principal economist and director of financial strategy and policy analysis. Green will serve a one-year term in his new role as senior advisor.
“After dedicating my career to the study of housing economics and providing research and information intended to guide our country’s housing policy, it’s an honor to be invited to the front lines of our nation’s effort to provide safe, affordable housing to all,” Green said in a release provided by the Lusk Center.
As senior advisor at HUD, Green will advise on HUD’s top strategic objectives, including the creation of a sustainable housing system that provides support during market disruptions.
According to a Lusk Center press release, he also will help set the agenda for housing finance research and play a key role in a range of housing finance projects in his work with HUD’s Office of Policy Development and Research, where he also will work with the FHA on issues involving both offices and participate in cross agency housing groups, such as the weekly housing deputies meetings at the White House and the rental housing policy working group.
Green will be responsible for guiding ongoing efforts to ensure continued access to homeownership and multifamily investment opportunities for creditworthy borrowers while avoiding the problem of private gains and public losses.
Along with experience with Freddie Mac, Green also has an extensive scholarly background. Before joining the USC faculty, Green spent four years as the Oliver T. Carr, Jr., Chair of Real Estate Finance at The George Washington University School of Business, and was the director of the Center for Washington Area Studies and the Center for Real Estate and Urban Studies at George Washington. Additionally, Green taught real estate finance and economics courses for 12 years at the University of Wisconsin-Madison, where he was Wangard Faculty Scholar and Chair of Real Estate and Urban Land Economics. More recently, Green was a visiting professor of real estate at the University of Pennsylvania’s Wharton School.
The director of the USC Bedrosian Center on Governance, Raphael Bostic, will serve as interim director of the USC Lusk Center while Green serves in his post at HUD. Along with formerly serving as the assistant HUD secretary for policy development and research from 2009 to 2012, Bostic recently was elected to the board of governors of Freddie Mac. He will direct both centers until Green returns to USC after June 2016.