Expert: A Market of 'Disequilibrium'

LOS ANGELES-Is it a true recovery or a head fake? That was the question this morning at ALM Real Estate Media Group’s RealShare Real Estate 2011 conference, where nearly 1,000 were in attendance at the Westin Bonaventure hotel in Downtown L.A. “We live in an environment of extreme sensitivity,” said Hessam Nadji, managing director of research services at Marcus & Millichap Real Estate Investment Services, who opened up the morning’s economic panel.

Nadji noted that concern and fear has been at an all time high, but he said that “the economy has done a great job healing its fundamental parts.” He explained that retail sales, for example, have been above the peak in 2007 for some time now, “so there are parts of the economy that have improved substantially.”