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NEW YORK CITY-The industry's future is on the forefront of real estate practitioner's minds, as seen at yesterday's RealShare Structured Finance. The roughly 150 attendees and speakers continued to bring up the possibility of the bubble bursting and looked for proof in the capital market--proof that is not as evident as some may think. Michael Desiato, group publisher and editorial director for Real Estate Media, introduced the conference that went on to analyze every part of the capital market.

While capital is still chasing property at an enormous rate, as evident from the recent Stuyvesant Town Peter Cooper Village sale, and fundamentals are steady; most find a real estate bust as an unavoidable part of the cycle.

The market's fundamentals are still stable according to speakers on the State of the Real Estate, Finance and the Capital Markets panel, and the market could be classified as 'overheated' with the number of investors still vying for property. "When you have 40 or 50 guys bidding, there is always someone out there who will do something we consider crazy," said Randy Reiff, senior managing director and co-head of Global CMBS at Bear Sterans & Co. "But eventually the music stops and someone is left without a chair."