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The CB Richard Ellis Investors exec. managing director tells John Salustri, editorial director of Incisive Media's real estate group at Real Estate 2009 that a bear market is an investor's market.
Penner said that one of the fundamental problems preventing a recovery is that investors both in the US and around the world is that have lost their trust in the free market, a trust that is one of the foundations of the US financial system. Penner also addressed the federal stimulus plan, saying that the private sector will have to get up and running if the US is truly going to restore its economy. "There will have to be bond market participation," he said.
Penner outlined the causes of the financial markets meltdown and offered some prescriptions for fixing them, explaining what he would do differently from what is being attempted by the feds. One of the steps that ought to be taken on the road to recovery is marking assets to market value, Penner said.
In an interview with GlobeSt.TV, Penner said that he is a fan of a bear market, which he explained was "an investor's market."
(Click on the above image to play the GlobeSt.TV interview.)
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
