BY JOHN KAPTEYN - SECTION EDITOR
Professor Paul Habibi’s career in real estate began as an eight-year hobby. Then, in 1995, he and his brother realized that the market conditions were ideal to start their own company in multi-family housing.
“It was a fortuitous time to start,” he recalls.
The country was recovering from the 1989-90 recession and Habibi, who was finishing business school, decided to move from Michigan back to his hometown of Los Angeles to pursue real estate full-time. In Los Angeles, he says, land scarcity and complex building processes “keep prices insulated from external volatility.”
As his business grew, Habibi became involved in UCLA’s Extension program for continuing education before joining Anderson as a full-time professor. He derives his curriculum from his professional experiences, and his classes remain popular among students from a broad range of backgrounds.