Now that housing has finally bottomed, what will the recovery look like?  Will the collapse of Commercial Real Estate values prolong the recession?  How long and deep will the decline be?  What will both sectors look like five years from now?  How will real estate be financed in the future?

Come hear what these two renowned real estate economists think about the housing market and state of the real estate market on a panel moderated by HBS’ own real estate expert Arthur Segel.

Panelists

Karl E. Case is the Katharine Coman and A. Barton Hepburn  Professor of Economics at Wellesley College where he has taught for over 30 years.  He is also a founding partner in the real estate research firm of Fiserv Case Shiller Weiss, Inc. and a national renowned expert on the housing markets.  The pioneering Case Shiller Home Price Indices are widely watched by economists and the financial markets.  Professor Case's primary research has been in the areas of real estate, housing, and public finance.  He is author or co?author of five books including Principles of Economics,  Economics and Tax Policy and Property Taxation: The Need for Reform and has published numerous articles in professional journals.  Principles of Economics, a basic text coauthored with Ray C. Fair and Sharon Oster, is in its ninth edition.  Professor Case received his A.B. from Miami University in 1968, spent three years on active duty in the Army and received his Ph.D. in Economics from Harvard University in 1976.  

Douglas Poutasse is Executive Director of the National Council of Real Estate Investment Fiduciaries (NCREIF). Since its founding in 1982, NCREIF has served the American institutional real estate investment community as a non-partisan collector, processor, validator and disseminator of real estate performance information. Prior to joining NCREIF in 2007, Doug was the Chief Investment Strategist for AEW Capital Management, one of the world’s leading real estate investment management firms.  Doug has over 25 years of experience as an economic analyst and forecaster.  He is also a member of the Urban Land Institute and the Pension Real Estate Association.  In 2005, PREA awarded Doug the Graaskamp Award for his high quality research in the area of institutional investment in real estate. He is a graduate of Harvard University (B.A.).

Moderator

Arthur Segel is the Poorvu Family Professor of Management Practice in the Finance Department at Harvard Business School where he has been writing cases and teaching the Real Property Asset Management course since 1996. He is an honors graduate of Harvard College (1973) and Stanford University , Graduate School of Business (1975).  Mr. Segel was a co-founder and co-owner (1982-2001) of TA Associates Realty, a large private equity real estate development and investment advisory firm specializing in commercial and multi-family real estate in over thirty markets in the United States and Canada . Prior to TA Associates Realty, he worked as a Vice President at Boston Properties and as Deputy for Finance and Administration at Massport. He is the founder and Advisory Committee Chair of Xander Funds, a real estate investment company in India .  He is also on the Board of Trexa, a Mumbai-based retail development and investment firm.  In 2006, Private Equity Real Estate Journal awarded him one of the 30 most influential players in real estate in the world.