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2013 Real Estate Forecast and Trend Event
SDSU's Corky McMillin Center for Real Estate hosted the 2013 Forecast and Trend Event with a panel of local experts to discuss the real estate finance market and the trends that were emerging as 2013 unfolds.
Dr. Michael Lea, director of the center, made opening remarks followed by a market overview from Gary London ('76, Master of City Planning) of The London Group Realty Advisors, who served as the session moderator. He discussed the "unconventional recovery from the recession" which includes low interest rates, elusive financing and the end of single family homebuilding in the San Diego area.
London's observation that the market is trending toward mixed-use projects was confirmed by the panelists who were made up of local real estate financial experts. They were Will McLennan from Torrey Pines Bank, James Nigro from U.S. Bank's commercial real estate department, John Wickenhiser ('91, management) with Wells Fargo, and Timothy Wright ('86, M.B.A.) from Holiday, Fengolio and Fowler.
The panelists had varied responses to the question of regulation, but they all agreed that there is far more government oversight in the real estate lending process and that regulation has served to shift funds away from banks.
The session concluded with an audience question and answer session from the near-capacity crowd of approximately 192 guests.