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Lusk Perspectives

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Resources for COVID-19 and Beyond

During a time of great uncertainty and change, connection and information is a more important resource than ever before. Today's problems could be amplified or completely altered in a matter of days or hours, so it is vital that organizations and thought leaders frequently share knowledge, dispel rumors, and offer insight.

To meet this need, the USC Lusk Center for Real Estate launches the resource Lusk Perspectives.

Hosted by Professor and Lusk Center Director Richard K. Green, Lusk Perspectives offers timely analysis and shares accurate data vetted by leading experts on the latest developments and observations concerning COVID-19.

Once interviews are conducted, resources and videos will be made available here and on podcast channels as soon as possible.

 

Latest Perspectives

Distressed Debt and the K-Shaped Recovery

November 18, 2020
Sean F. Armstrong
Sean F. Armstrong | Managing Principal, Westport Capital Partners LLC

Sean Armstrong joins Richard Green to discuss highlights from his career, his views on acquiring distressed debt, and how COVID could impact the industry. Though the K-shaped recovery will likely be a general trend going forward, Armstrong sees the recovery playing out in very focused markets with multiple intersecting factors including region, product type, COVID progress, and consumer behavior. Green asks questions about Armstrong’s process on looking for opportunities, where he has made mistakes in the past, and what options remain for regional malls in decline.

Record date 10/8/20

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COVID-19 and Renter Distress

November 10, 2020
Michael Lens
Michael Lens | Associate Professor of Urban Planning and Public Policy, UCLA Luskin
Michael Manville
Michael Manville | Associate Professor of Urban Planning, UCLA Luskin
Paavo Monkkonen | Associate Professor of Urban Planning and Public Policy, UCLA Luskin

Richard Green (Director, USC Lusk Center for Real Estate) is joined by Michael Lens (Associate Professor of Urban Planning and Public Policy, UCLA Luskin School of Public Affairs), Michael Manville (Associate Professor of Urban Planning, UCLA Luskin), and Paavo Monkkonen (Associate Professor of Urban Planning and Public Policy, UCLA Luskin) to discuss their joint study on renter distress during the COVID-19 crisis. Among its many findings, the study illustrates that though many households are making rent payments, tenants may be using other means of credit or cutting basic needs spending to do so.

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Demystifying Commercial Mortgage-Backed Securities

October 22, 2020
Roy March
Roy March | CEO, Eastdil Secured

Roy March discusses the ins and outs of Commercial Mortgage-Backed Securities with Richard Green. Starting with the history of how CMBS was born out of the Savings and Loan Crisis in the late 1980s and how it gained ground after the 2008 crisis by providing much-needed liquidity, the conversation covers a wide range of the market. March offers insights and observations on how a global aging population focused on long-term saving impacts interest rates, how valuation and refinancing is changing since COVID-19, and what changes have been made in governance to provide more flexibility on loan terms. March also takes a moment to address the shortcomings of the homelessness and housing crisis, particularly in Southern California.

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Election Talks: Breaking Down CA Prop 21

October 12, 2020
Larry Mantle
Larry Mantle | Host, Airtalk, Filmweek, KPCC
Gary Painter
Gary Painter | Director, Sol Price Center for Social Innovation
Richard Green
Richard Green | Director, USC Lusk Center for Real Estate

Radio host and fourth-generation Angeleno Larry Mantle and policy experts Gary Painter and Richard Green provide an overview of CA Proposition 21 followed by a discussion on their opposing views of supporting or opposing the initiative for local rent control. If approved, it allows local governments to establish rent control on residential properties that have been occupied for over 15 years. Additionally, it allows landlords who own no more than two homes to exempt themselves from such policies. Relevant to the discussion is the 1995 Costa–Hawkins Rental Housing Act, which Prop 21 would repeal some of the provisions in the act.

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View highlights

Prop 15 Discussion with KPCC Host Larry Mantle

October 12, 2020
Larry Mantle
Larry Mantle | Host, Airtalk, Filmweek, KPCC
Manuel Pastor
Manuel Pastor | Director, USC Dornsife Equity Research Institute
Rex Hime
Rex Hime | President and CEO, California Business Properties Association

Larry Mantle hosts a discussion regarding California Proposition 15. If passed on November 3rd, this initiative constitutional amendment will generate an estimated $6.5 billion to $11.5 billion annually for local governments and K-14 public education by creating a "split roll" property tax system that increases taxes on large commercial properties by taxing them at market value, without changing the assessed valuation process for other properties. Richard Green briefly introduces the talk while Manuel Pastor  and Rex Hime (President and CEO, California Business Properties Association) discuss what the ramifications of this proposition could be for California business, local municipalities, and education. 

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