With more than 350 industry professionals in attendance, a variety of panelists echoed a similar refrain: Such is the flattening of the world economy and the symbiotic relationship of the global financial markets that when a subprime loan fizzles in Hemet, CA, it's felt at a hedge fund in Australia or a bank in Germany.

As the nation braces for the foreclosure fallout, the Inland Empire, which has been among the nation's fastest growing regions in recent years, experiencing a staggering building boom, could be one of the hardest hit.

But that's only the short-term prognosis. And not one shared by all of the featured speakers. The long-term outlook is much brighter, according to Natalie Bazarevitsch, a first vice president with CB Richard Ellis. Bazarevitsch moderated a lively Town Hall Meeting, where panelists offered some reasons for caution, but mostly a bullish forecast.