Tuesday, August 4, 2015

Global Financial Crisis and Westside Real Estate: Forecast for 2009

Fri Nov 21, 2008

Subprime mortgages... credit default swaps... spiraling interbank lending rates... institutional defaults on Wall Street. What's that spell? You guessed it, trouble right here on Main Street.

Is Southern California in for some divine retribution after living high on our home equity lines for so long? Or can the power of our hugely diverse metropolis with its vast numbers of entrepreneurial start-ups, not to mention the magic of the entertainment business, create a new plot twist with a happier ending?

Closer to home, how is the Westside likely to fare compared to other sections of the metropolis - with some of the highest rents for office, retail and residential space in the state, yet tough controls on growth limiting new supply, where are our property markets headed? Locally our astronomic home prices have fallen only slightly - is that good news long-term or merely a recipe for continued traffic congestion?

Please join the
 Westside Urban Forum on Friday, November 21st, 2008 at 7:00 am to discuss what's next for real estate on the Westside.

Panelists:
Laurie Lustig-Bower, CB Richard Ellis
Tim Macker, Coldwell Banker Commercial Westmac
Rich Rizika, CB Richard Ellis
Colin Shepherd, Hines Interests [invited]

Moderator:
Fernando Guerra, Ph.D., Director, Leavey Center for the Study of Los Angeles, Loyola Marymount University