Ronald Leon Racster

Ronald L. Racster, a father, educator, and professor emeritus of real estate and finance at The Ohio State University, died on October 29, 2026, at the age of 90. He was born on July 21, 1936, in Evansville, Indiana to Gilbert Racster and Frances Saxe Racster.

Ronald earned his doctorate in finance from the University of Illinois in 1967 and devoted his professional life to education and advancing the understanding of real estate. At Ohio State’s Fisher College of Business, his service extended from teaching and research to academic leadership, including serving as associate dean for undergraduate business programs and leading the Center for Real Estate Education and Research. His influence continued through the students he taught and advised, some of whom credited his classes with setting the course of their careers.

He also helped shape the physical home of the college. Working alongside his colleague David Cole, Ronald oversaw the development and construction of Fisher’s six-building campus as an owner representative and vice-chair of its New Buildings Committee. Ohio State recognized that service with its Distinguished Service Award.

His work extended to North Palm Beach, Florida, where he served as president and director of the Homer Hoyt Institute, dean of the Weimer School of Advanced Studies in Real Estate, and chief financial officer for the Hoyt Group organizations. A founding fellow and later dean emeritus of the school, he helped connect academic research with the practical concerns of the real estate profession.

Ronald also served as president of the American Real Estate and Urban Economics Association, which honored him with its George Bloom Service Award in 1993. He contributed to textbooks on real estate principles, appraisal, and market analysis, and shared his expertise with professional organizations, developers, investors, and financial institutions.

A man of quiet faith, Ronald is remembered by his sons as a caring and devoted father who placed tremendous importance on family. Though a man of few words, he had a quick, dry wit. His professional legacy was vast, but his ultimate pride was his sons, who were at the center of his heart.

Ronald was preceded in death by his wife, Dr. Jane Lee Racster, and is survived by his sons, Jonathan and Christopher.

He will be laid to rest at Graceland Cemetery in Albion, Edwards County, Illinois. A private graveside committal will be held.

In lieu of flowers, please consider a contribution to the Mid – Ohio Food Collective, 3960 Brookham Drive, Grove City, Ohio 43123, https://mofc.org/.

Schoedinger Northwest entrusted with arrangements. Please visit www.schoedinger to send a message of remembrance to his family.