Real Estate and the Financial Crisis: How Turmoil in the Capital Markets is Restructuring Real Estate Finance

This is clear, detailed account by Tony Downs of the monetary flows, regulation, competition, and character of the real estate finance industry over the past decade, up to 3/09. Tony is one of the top academic analysts of the industry and this book will be referred to for a long time as an accessible and accurate view of the multifaceted mess the RE finance, investment, and development industries are now in. Tony's clear writing style and effective use of bulleted lists and color graphics also makes this book a fast read, rather than a lumbering academic tome. Steve Price, MAI, CRE