February 1, 2008
...And the growth in commercial real estate debt from $1 trillion to $3 trillion over the past decade owes largely to the activities of the investment banks, he continued. Gary Painter, associate professor in the School of Policy, Planning and Development for the University of Southern California and director of research for the USC Lusk Center for Real Estate, added, "There are fewer lenders in the system and less capital in the system."...