32841_CRE_Cvr:. 2/29/08 9:44 AM Page A REAL ESTATE ISSUES REAL ESTATE REAL ESTATE ISSUES® Published by THE COUNSELORS OF REAL ESTATE Volume 33, Number 1, 2008 Published by THE COUNSELORS OF REAL ESTATE THE ECONOMY AND THE MARKET www.cre.org Leadership Roundtable: Economic and Market Trends in Second Half of 2007 and Early 2008: An Assessment and Outlook Panelists: Raymond G. Torto, Ph.D., CRE; Kenneth P. Riggs, Jr., CRE; Alan C. Billingsley, CRE; Moderator: Peter C. Burley, CRE Deflation Risk in Income-Property Investments and Permanent Loan Portfolios: A 2008 Update Marc R. Thompson, CRE Seizure in the Capital Markets and Its Impact on Washington’s Investment-Grade Office Building Deal Volume Oakleigh J. Thorne, CRE Home Price Indices Futures Damir Tokic, Ph.D., and Stijepko Tokic, J.D. THE LAND Rebuilding After Katrina: An Owner’s Perspective Two Years Later John A. Meltzer, CRE, CCIM, and Noah Shlaes, CRE, FRICS Volume 33, Number 1, 2008 Volume How Major Hurricanes Impact 430 N. Michigan Ave. Housing Prices and Transaction Volume Chicago, IL 60611-4089 Eli Beracha, Ph.D., and Robert S. Prati, Ph.D. Telephone: 312.329.8427 E-mail:
[email protected] Web site: www.cre.org www.cre.org 32841_NewBody:. 2/29/2008 12:44 PM Page i REAL ESTATE ISSUES Published by THE COUNSELORS OF REAL ESTATE EDITORIAL BOARD EDITOR IN CHIEF David J. Lynn, Ph.D., CRE Maura M. Cochran, CRE ING Clarion, New York, NY Bartram & Cochran, Inc., Hartford, CT Richard Marchitelli, CRE ASSOCIATE EDITOR Cushman & Wakefield, Inc., New York, NY Peter C.