This Page (clockwise, from right): Apartments
2009 attracted more than 1,000 industry
professionals to the Westin Bonaventure Hotel in
Los Angeles; industry leaders share their view
of the national apartment market in the session,
“View From the Top”; Michael Desiato, VP and
group publisher of ALM’s Real Estate Media Group,
delivers the opening remarks.
If the Treasury’s proposal to force lenders to allow
homeowners to remain in foreclosed residences for seven to
10 years goes through, it could have a two-fold impact on the
industry, notes Doug Culkin, president of the National Apartment
Association, who gave the keynote address. “It would reduce
the available renter pool in 2010,” he says. “On the other hand,
it also would reduce a big part of the shadow market.”
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Underwriting has become more reasonable, and “back to
where it was before things got crazy,” commented Fannie
Mae’s Heidi McKibben during the session “With Dislocation
Comes Opportunity: Surviving Today’s Capital Crisis.”
