Credit Crisis Topic Number One at Real Estate Capital Markets Conference
The current worldwide credit crunch and ongoing U.S. subprime mortgage crisis were the main topics of discussion at the 41st Annual Capital Markets in Real Estate Conference, held in November by the NYU Schack Institute of Real Estate.
The conference, “Creating Opportunities From the Chaos of the Credit Crunch: A Practitioner’s Guide,” focused on the worldwide credit crisis with the dislocation of capital markets and the drastic effects permeating commercial real estate.
Keynoter Laurence D. Fink (above), chairman and CEO of BlackRock, Inc. and an NYU trustee, delivered a frank analysis about the origins of the ongoing crisis and the shared failures of businesses and governments to address these issues earlier. Fink also called for government initiatives—modeled on post-World War II efforts—to offer low-cost mortgages as a way to jump-start the housing market and reinvigorate the U.S. economy.