Fisher Center for Real Estate & Urban Economics
16th ANNUAL FISHER CENTER REAL ESTATE CONFERENCE
We are pleased to offer you another outstanding program – the 16th Annual Fisher Center Real Estate Conference on May 24, 2011. With an exciting array of speakers and sessions, this full-day conference is always a great way to get cutting-edge, real estate industry information and plenty of networking opportunities with your colleagues during the lunch and refreshment breaks (included with the price of registration.) Timely and pertinent topics and an exceptional group of industry experts will make this an outstanding seminar for real estate and finance professionals and a program you can’t afford to miss!
John Chiang, Controller, State of California
California State Controller's Office
John Chiang, the Controller of the State of California, will deliver his considerable knowledge and valued insights on “The State of the State,” addressing the hot-topic issues of California’s fiscal crisis.
Kenneth T. Rosen, Chairman
Fisher Center for Real Estate & Urban Economics, UC Berkeley
Ken Rosen will, once again, provide his interesting and timely view of the economy and real estate markets. His discussion will give investors and economic observers a careful evaluation of where the economy headed, the status of the recession, and if there is a significant possibility of another downturn. Are we, indeed, approaching the time that the economy turns around, leading to appreciation in asset markets?
TIMELY AND IMPORTANT TOPICS
This year, sessions will focus on the information you need to do business and find opportunities in today’s challenging times, including:
- THE REAL ESTATE MARKET AND ECONOMIC OUTLOOK
The economy is showing unanticipated, renewed strength; employment growth has improved, with the unemployment rate dipping to its lowest level in several years. Is this a mirage, or a real turnaround? How robust could the turnaround be? How long will it take for the impacts of the economic turnaround to affect real estate markets? Is the financial system re-regulated and repaired so that it can support a robust economy? How important will the international markets, such as China, be for a U.S. economic recovery and vice-versa?
- THE RESIDENTIAL HOUSING MARKET - IS OPPORTUNITY UPON US?
Historically, in an economic downturn, superior residential investment opportunities emerge. While the residential housing market has suffered from declining prices and lack of lender liquidity and the home building industry seems to be in shambles, there may be a glimmer of light at the end of the tunnel. How long will it take us to traverse the tunnel, and what are the prospects for the single family and multi-family housing markets as we move forward? The panel will discuss the magnitude and duration of the (perhaps nascent) housing market recovery and the evaluation of how opportunities may be evolving.
- THE NEW REALITIES OF CALIFORNIA BUDGETS
It is no secret that California governments at all levels are confronting constrained budgets. How can we expect the governments of California to provide public services in light of these budgetary constraints? How long will the budgetary constraint remain? Can governments find alternative sources of revenue? Will governments be forced to lay off public employees? These are the lynchpin issues to be explained by this panel.
- INSTITUTIONAL & COMMERCIAL REAL ESTATE MARKET UPDATE
This session will provide insights about the commercial real estate market, especially the strategies of large institutional real estate investors. Commercial real estate, in many ways, has fared much better than the residential market. This has been, in part, a function of the banking system’s ability to resist the foreclosing and selling of commercial real estate in its lending portfolio. Will lenders be able to sustain this position and start to make new loans? Can we expect commercial real estate to become buoyant again? Is the commercial real estate market going to remain a two-tier system, with prime real estate fetching extraordinarily high prices and less-than prime real estate being depressed? How long will it take for the commercial real estate market to turn around?
- THE STATE OF THE STATE
John Chiang, the Controller of the State of California, is responsible for managing the treasury of the State. The current economic slow-down, and especially changes in the real estate market, have had a substantial impact upon state revenue. This presentation will focus on how the decline in traditional sources of revenues can be mitigated in order to provide public service and conduct normal governmental activities.
- SOURCES FOR REAL ESTATE CAPITAL: IS FINANCING AND INVESTMENT BACK?
This panel will examine the current status of investor-capital for the real estate markets. The panelists will address the availability of traditional commercial loans as well as the buoyancy of securitized equity markets (such as REITs), and securitization of debt. The apparent uptick in real estate capital sources is not uniform. The panel will also examine whether the financial system has been repaired sufficiently to remove some of the risks that occurred in the subprime financial crisis.
We are continuing to assemble an exceptional group of knowledgeable and experienced professionals who will discuss the challenging complexities of today’s real estate markets. The confirmed lineup of outstanding speakers include:
Michael Bykhovsky, Founder, Applied Financial Technology
Brad Case, Senior Vice President, Research & Industry Information, NAREIT
Robert H. Edelstein, Co-Chair, Fisher Center for Real Estate & Urban Economics, UC Berkeley
Jeffrey Giller, Managing Partner and CIO, Clairvue Capital Partners
Jed Kolko, Associate Director and Research, Fellow Public Policy Institute of California
Cynthia A. Kroll, Senior Regional Economist and Executive Director, Staff Research, Fisher Center for Real Estate and Urban Economics, UC Berkeley
Alan P. Mark, Founder and President, The Mark Company