March 21, 2012
Contact: University Relations
Peter Linneman, an expert in real estate finance and investment and the Albert Sussman Emeritus Professor of Real Estate, Finance, and Business Public Policy at the Wharton School of Business at the University of Pennsylvania, will talk about strategic shifts in federal policy concerning real property loans and the government as guarantor, when the University of Baltimore's Merrick School of Business hosts its next Speaker Series event on Wednesday, March 28 at 6:30 p.m. in the UB Student Center, 21 W. Mt. Royal Ave. The event is free and open to the public, but seating is limited. Attendees are urged to R.S.V.P.—details below.
At the beginning of the country's financial meltdown in 2008, banks with less than $1 billion in assets held 74 percent of their loans in real estate, all financed with funds guaranteed by the federal government. Hundreds of thousands of foreclosures on ill-considered mortgages later, the fallout continues, with several banks large and small having failed, others bailed out, and a pool of "toxic" loans roaming the globe in search of a source of funds to adequately liquidate them. The upshot of the so-called "ownership society" touted throughout the early 2000s has been an across-the-board drop in real estate prices, a retrenchment of world markets seemingly far removed from housing, and now, a call for reforms in federal policies designed to regulate real estate financing. How people borrow and lend money for real property is under review.
At the Speakers Series event, Linneman will provide his perspective on monetary policy and real estate returns and will share his thoughts on where federal policies will go now. Linneman's book, Real Estate Finance and Investments: Risks and Opportunities, has been adopted by more than 70 leading universities, including the University of Baltimore, and is the leading primary reference source in real estate finance and investment.
Linneman, named one of the 25 Most Influential People in Real Estate by Realtor magazine, is a principal of Linneman Associates, KL Realty, and American Land Funds. He served as a member of the Wharton School's faculty for 32 years, founding its Real Estate Department and the Zell-Lurie Real Estate Center. Linneman has been senior managing director of Equity International Properties, vice chairman of Amerimar Realty, and the chairman of the board of Rockefeller Center Properties. In the latter capacity he led the process of foreclosing on its Japanese owners and the successful sale of Rockefeller Center in 1995. He also served on the board of directors of a number of public and private companies.
Linneman is widely recognized as a leading strategic thinker and investor, and is part of the New York Observer’s list of the 100 Most Powerful People in New York Real Estate. He holds both a master's and doctoral degree in economics from the University of Chicago.
Tickets to Linneman's talk are free to the public, but require advanced registration. Go here to R.S.V.P. on the UB calendar.
This event is presented by the UB Real Estate Program, the Appraisal Institute, and NAIOP, the Commercial Real Estate Development Association.
Learn more about the Speaker Series.
The University of Baltimore is a member of the University System of Maryland and comprises the School of Law, the Yale Gordon College of Arts and Sciences, the College of Public Affairs and the Merrick School of Business.