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Zaya Younan

'We need to navigate better and make more short-term decisions.'

By John Salustri | Updated on January 22, 2008

WHAT LESSONS HAVE YOU LEARNED?

A bit sadder and a bit wiser. Even if we skirt the mountaintops, the rocky flight path we’ve taken over the past few months–and are likely to experience for the near term–will leave us with lessons learned. For the great majority of our polltakers (38%) the lesson was Know Where the Door Is; exit strategies are key. Nearly a quarter (21%) of respondents say don’t flinch and Stick to Your Strategy. This compares to the 13% who will keep their strategies loose-fitting and replaceable. Diversification by Product is the name of the game to a sobered 17% while 10% will Diversify by Locale. Zaya Younan, never one to shirk from frank talk, admits he’s learned a thing or two. The chairman and CEO of Younan Properties in Los Angeles tells us what:

“First, some background. The debt-market deterioration was created by a significant failure of subprime residential mortgages. First of all, how bad will the housing recession be? We believe it will prove to be severe, but we have probably passed the worst period. We will only gradually ease out of it over the next two to three quarters.

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