Christopher Thornberg for I Survived Real Estate 2008
Bruce Norris is joined by Principle at Beacon Economics and panelist for I Survived Real Estate 2008, Christopher Thornberg. Bruce and Christopher discuss how Christopher got started in the prediction business, letting the data speak to you and street smarts, how this journey caught so many off guard, the duration of bubbles, how the downturn is worse then expected, looking at past real estate bubbles and how they compare, the chance that people who can afford home payments walk away because their neighbor owes half what they do, looking at what caused most of the damage, subprime being the fuel for the fire, the main problem being people paid too much, how falling prices will eventually allow people to get back in the market, home prices and consumer spending, unemployment and what that can mean for migration, when it might turn, if downturns hit coastal regions, the price decline and how it works its way out to coastal regions, returning to more reasonable ownership levels, following the foreclosure lists and realizing that investors weren’t the problem, how lenders are tightening financing, how Fannie Mae and Freddie Mac are exposed in volatile markets, the large amount of leverage within banks, equity position of banks, the story behind pent up demand, commercial real estate in the coming years, the land price bubble, false wealth and consumer spending, how to notice a commercial bubble is popping, the Federal Reserve and how they’re dealing with the market, dealing with inflation compared to past cycles, and what policy Christopher would change in the current market. See iSurvived2008.com for more details about our fundraiser "I Survived Real Estate 2008."
Christopher Thornberg is a founding partner of Beacon Economics. Dr. Thornberg is an expert in the study of regional economies, real estate dynamics, labor markets and business forecasting. He has been involved in a number of special studies measuring the impact of important events on the economy, including the NAFTA treaty, the California power crisis, port security, California water transfer programs and the September 11th terrorist attacks. Prior to launching Beacon he worked with the UCLA Anderson Forecast where he regularly authored the outlooks for California, Los Angeles and the East Bay as well as performing a number of specialized forecasts for regions and industries. Dr. Thornberg lectures on a regular basis at a variety of public and private events, has appeared on CNN, Fox News and CNBC and is widely quoted in the press. He received his Ph.D in Business Economics from The Anderson School and his B.S. in Business Administration from the State University of New York at Buffalo. He specializes in International and Labor Economics. Dr. Thornberg continues to teach in the MBA program at UCLA and previously held a faculty position in the economics department at Clemson University.
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I Survived Real Estate 2008 took place on August 23rd, 2008 at the Nixon Library in Yorba Linda, CA. The event proceeds went to benefit the Orange County Affiliate of the Susan G. Komen for the Cure. Over 400 attended the live event, many more attended online via Proxibid who aired the entire event nationwide online over the Internet, and many more will watch the event recording online.
This event was about solutions for our ailing real estate industry and to help an important cause. Eight industry experts from different real estate sectors converged to discuss how we got here, where we're going, and how we move forward together and prosper in the coming year. This is a rare opportunity to hear how leadership from the Realtors, builders, investors, mortgage industry, auctioneers and service providers each would approach and solve issues in the current California and national real estate market.
Expert Real Estate Panelists Inclulded:
Tommy Williams, President of the National Auctioneers Association
Rick Sharga, VP Marketing RealtyTrac
Christopher Thornberg, Beacon Economics
Bruce Norris,
President of The Norris Group
Joel Singer, Executive VP for C.A.R.
Annemaria Allen, The Compliance Group
Richard Lambros, Building Industry Association of Southern California
Philip X. Tirone, 7 Steps to a 720 Credit Score
Click HERE to see information on I Survived Real Estate 2008 including information about the video online. A very special to the following sponsors who made I Survived Real Estate 2008 possible:
I Survived Real Estate 2008 Platinum Sponsors:
San Diego Creative Investors Association (SDCIA) and Bill Tan: http://www.sdcia.com/
Investors Workshops and Shawn Watkins: http://www.investorsworkshops.com/
Frye / Wiles: http://www.fryewiles.com/
Proxibid: http://www.proxibid.com/
White House Catering: http://www.whcatering.com/
MVT Productions: http://www.mvtpro.com/
Pechanga Resort & Casino: http://www.pechanga.com/home.asp
The Denver Nuggets: http://www.nba.com/nuggets/
The Chicago Bulls: http://www.nba.com/bulls/
The Cleveland Cavaliers: http://www.nba.com/cavaliers/
Gold Sponsors:
Silverstar Finance - http://www.silverstarfinance.com/
Elite Auctions - http://www.sellwithauction.com/
7 Steps to a 720 Credit Score: http://www.7stepsto720.com/
RealtyTrac - http://www.realtytrac.com/
The Mission Inn - http://www.missioninn.com/
Las Brisas Escrow - http://www.lasbrisasescrow.com/
Chicago Title Company - https://www.ctic.com/
The Mortgage Equity Group - http://themeg.net/
Wholesale Capital Corporation - http://www.wccmtg.com/
Real Wealth Investor - http://www.realwealthinvestor.com/
Saddleback Valley Communities: http://svc4.com/
Sunset Hills Memorial Park and Mortuary: http://www.sunsethills.cc/ =
Northern California Real Estate Investors Association (NORCALREI) - http://www.norcalreia.com/
The Short Sale Processor and Nick Manfredi - http://www.theshortsaleprocessor.com/
Investors Resource Center of America Los Angeles Chapter (IRCA)- http://www.irca-losangeles.com/
The Naked Real Estate Investor Club - Rosie Nieto - http://www.nakedrealestateinvestorsclub.com/
Real Wealth Investor - http://realwealthonline.com/
Northern San Diego Real Estate Investors - http://www.nsdrei.org/
National Club of Real Estate Investors - http://www.ncrei.com/
Virtual Real Estate Tour and Layla Tusko - http://1wealthcreation.com/
Real Estate Investors Club of Los Angeles and Phyllis Rockower - http://www.realestateclubla.com/
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