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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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