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Lusk Perspectives

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Real Conversations, Real Estate

During a time of great uncertainty and rapid change, connection and information is a more important resource than ever before. Today's issues could be amplified or 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.

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 policy, real estate, urban economics and more.

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

 

Latest Perspectives

Economic Outlook For 2022 & The Fed’s New Framework

February 2, 2022
Claudia Sahm
Claudia Sahm | Director, Macroeconomic Research, Jain Family Institute

Claudia Sahm joins Richard K. Green to look at the US Economy and how the Federal Reserve is responding to inflation, unemployment, and interest rates. 

Sahm cites that the big picture points to economic recovery, especially while the Fed incorporates the principle lesson of the 2008-2009 financial crisis: remove support gradually or risk a stalled recovery. With appointments incoming, Sahm forecasts that the new and historically diverse Board of Governors will continue to press the Federal Reserve’s dual mandate of stable prices and maximum employment. Crucially, Sahm emphasizes that without an end to the pandemic, the economic tides can only change so much, with or without federal intervention.

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2021 Casden Multifamily Forecast Report

November 16, 2021
Richard K. Green
Richard K. Green | Director, USC Lusk Center for Real Estate

Richard K. Green highlights data and analysis from the 201 Casden Multifamily Forecast Report. Before Green dives into forecasted rent, vacancies, and deliveries for Los Angeles, Inland Empire, Orange County, San Diego and Ventura submarkets, he offers an economic context for where Southern California stands. 

In the context discussion, Green delivers insights into what’s happening with the supply chain in the ports of Los Angeles and Long Beach, why cap rates are so low, and how unemployment and total employment impact the delivery of goods, including multifamily construction.

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How Proptech is Shaping the Future of Real Estate

September 30, 2021
Ashley Colella
Ashley Colella | Senior Product Manager, HqO
Travis Putnam
Travis Putnam | Founder and Managing Partner, Navitas Capital
Tyler Scriven
Tyler Scriven | Founder and CEO, Saltbox

Richard K. Green moderates a discussion on the growing opportunities PropTech brings to the real estate industry.

Travis Putnam (Navitas Capital) provides perspective on the overall momentum of venture capital in the space while Ashley Colella (HqO) and Tyler Scriven (Saltbox) offer on-the-ground applications to some of the ways that technology is improving the relationship between property owners and tenants, the increasing role of logistics, and the importance of sorting data into actionable insights.

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Recovery of Retail

June 21, 2021
Rachel Elias Wein
Rachel Elias Wein | Founder & Chief Executive Officer, Wein Plus

Rachel Elias Wein joins Richard K. Green to discuss the retail sectors returning as states continue to reopen and vaccine rates climb. Wein traces the pandemic’s impact on retail, including growth in grocery delivery, pet stores, and ecommerce as well as areas that struggled like malls and mid-sized brands. As for the future of retail, Wein notes that an overall decrease in restaurant sales towards lower-cost grocery foods puts more cash in the average consumer's pocket, which may open an opportunity for post-pandemic spending in retail, hospitality, and travel. 

Green and Wein discuss how work-from-home will impact retail, particularly weekday spending habits in urban and office hubs as an estimated 20% of the average work week (one day per week) may take place from home. Additionally, they also cover how an aging population’s spending habits may favor geographic regions, the feasibility of transitioning customer-based retail locations to more industrial-style fulfillment centers, and how the ubiquity of malls will continue to decline. 

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Casden Spring 2021 Multifamily Forecast Report

May 20, 2021
Richard K. Green
Richard K. Green | Director, USC Lusk Center for Real Estate
Tony M. Salazar
Tony M. Salazar | President, West Coast Division, McCormack Baron Salazar, Inc
Paul M. Keller
Paul M. Keller | Chairman and Chief Executive Officer, Mack Urban

Richard K. Green delivers new data from the Casden Spring 2021 Multifamily Forecast Report. Despite outmigration, California housing prices are still climbing, indicating that the state remains a desirable destination for many. However, California's lack of multifamily housing production remains concerning as sunbelt states with more robust construction pipelines like Texas, Arizona, and Nevada continue to siphon off California residents. Green also asserts that Southern California submarkets will largely be influenced not by whether workers return to the office, but by how often.

Panelists Paul M. Keller (Mack Urban) and Tony M. Salazar (McCormack Baron Salazar, Inc.) echo the data with anecdotal evidence from inside the industry. Salazar points out that affordable housing subsidies are offered as a flat rate across the US, and as a result those funds continue to go further in markets where housing production is less expensive. Keller remains skeptical about how the state may change and expects more of the same challenges in the future. 

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