Christopher Thornberg of Beacon Economics #44

In this second interview, Christopher Thornberg and Bruce Norris discuss how builders are adjusting to the new California real estate reality, how builders are notoriously optimistic, why builders continue to build, inflation pressure and why it's hard to predict, consumer spending, when the subprime peak will occur, possible policy changes and the presidential elections, how property taxes will cause problems for cities around the nation, employment, out migration, and the commercial market.

Christopher Thornberg is a founding partner of Beacon Economics. Dr. Thornberg is an expert in the study of regional economies, real estate dynamics, labor markets and business forecasting. He has been involved in a number of special studies measuring the impact of important events on the economy, including the NAFTA treaty, the California power crisis, port security, California water transfer programs and the September 11th terrorist attacks. Prior to launching Beacon he worked with the UCLA Anderson Forecast where he regularly authored the outlooks for California, Los Angeles and the East Bay as well as performing a number of specialized forecasts for regions and industries. Dr. Thornberg lectures on a regular basis at a variety of public and private events, has appeared on CNN, Fox News and CNBC and is widely quoted in the press. He received his Ph.D in Business Economics from The Anderson School and his B.S. in Business Administration from the State University of New York at Buffalo. He specializes in International and Labor Economics. Dr. Thornberg continues to teach in the MBA program at UCLA and previously held a faculty position in the economics department at Clemson University.

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Christopher Thornberg of Beacon Economics #43

Christopher Thornberg is back with Bruce Norris discussing recent CEOs being fired or leaving financial firms, past bubbles vs. current real estate bubble, bond ratings, affordability issues in real estate, Super SIV fund, how real estate will change consumer spending, how foreclosures will effect prices, foreclosures in some of the most respected and stable financial institutions, possible bank solutions, what rental markets will do in the coming years, and why banks will have a hard time if they set bad precedents.

Christopher Thornberg is a founding partner of Beacon Economics. Dr. Thornberg is an expert in the study of regional economies, real estate dynamics, labor markets and business forecasting. He has been involved in a number of special studies measuring the impact of important events on the economy, including the NAFTA treaty, the California power crisis, port security, California water transfer programs and the September 11th terrorist attacks. Prior to launching Beacon he worked with the UCLA Anderson Forecast where he regularly authored the outlooks for California, Los Angeles and the East Bay as well as performing a number of specialized forecasts for regions and industries. Dr. Thornberg lectures on a regular basis at a variety of public and private events, has appeared on CNN, Fox News and CNBC and is widely quoted in the press. He received his Ph.D in Business Economics from The Anderson School and his B.S. in Business Administration from the State University of New York at Buffalo. He specializes in International and Labor Economics. Dr. Thornberg continues to teach in the MBA program at UCLA and previously held a faculty position in the economics department at Clemson University.

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Jack Kyser of LAEDC #42

Bruce Norris is joined once again by Chief Economist for the Los Angeles County Economic Development Corporation (LAEDC), Jack Kyser. Bruce and Jack discuss how California will deal with budget shortfalls because of real estate, California's 10% budget shortfall, borrowing into the future, how the election year could affect us, possible changes in the bankruptcy laws, new Fannie Mae and Freddie Mac loan limits, California real estate transaction numbers, recent auctions, California rental markets, interest rate hikes, tax law changes, what it could mean if a democrat takes office, and where California is at in the current market correction.

Jack Kyser is the Chief Economist on the staff of the Los Angeles County Economic Development Corporation (LAEDC). Called the "guru of the Los Angeles economy" by the Los Angeles Business Journal, Mr. Kyser is responsible for interpreting and forecasting economic trends in the Los Angeles five-county area (Los Angeles, Orange, Riverside, San Bernardino and Ventura counties), and for analyzing the major industries of the area. Utilizing this information, he helps develop job retention and creation strategies for Los Angeles County. Mr. Kyser's advice is frequently sought by business, government and the media.

The Los Angeles County Economic Development Corporation (LAEDC) is a private, not-for-profit membership organization whose mission is leadership in the retention and creation of jobs and economic base in the Los Angeles area. Mr. Kyser's analytical research work and insightful knowledge of the regional economy has helped to elevate the LAEDC to recognition as the pre-eminent source of economic information and forecasts on Southern California.

Prior to joining the LAEDC, Mr. Kyser was chief economist for the Los Angeles Area Chamber of Commerce. Mr. Kyser has also worked for Security Pacific National Bank, First Interstate Bank (then United California Bank). Mr. Kyser later joined Union Pacific Railroad in Omaha, Nebraska, where he was transportation economist. He has also taught economics at the University of Nebraska--Omaha, and served as a business reporter and commentator for radio station KVNO-FM, also in Omaha.

A native of California, Mr. Kyser was born in Huntington Park and currently resides in Downey. He holds a Bachelor of Science degree in industrial design and an MBA from the University of Southern California. He has also pursued additional course work at UCLA.

Mr. Kyser serves on the Economic Policy Council of the California Institute, the research and policy arm of the California Congressional Delegation. He also serves on the economic advisors panel for the California Chamber of Commerce. He is also a past president of the Los Angeles Chapter of the National Association of Business Economists; a member of Lambda Alpha--a land economics fraternity; and on the board of directors of the South Park Economic Development Corporation, and the Building Owners & Managers Association of Greater Los Angeles.

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Jack Kyser of LAEDC #41

Bruce Norris is joined by Chief Economist for the Los Angeles County Economic Development Corporation (LAEDC), Jack Kyser. Bruce and Jack discuss how global markets are important to the LA forecast, how forecasting has changed in the last 25 years, the huge role the entertainment industry plays in the Los Angeles economy, how different economists can come up with drastically different forecasts, the speculator vs. the investor, how less taxes will effect LA, if we'll see a recession in California, interest rates, if the FED getting involved is helping, what other industries will see a decline in California because of real estate, and Jack's outlook on LA commercial real estate.

Jack Kyser is the Chief Economist on the staff of the Los Angeles County Economic Development Corporation (LAEDC). Called the "guru of the Los Angeles economy" by the Los Angeles Business Journal, Mr. Kyser is responsible for interpreting and forecasting economic trends in the Los Angeles five-county area (Los Angeles, Orange, Riverside, San Bernardino and Ventura counties), and for analyzing the major industries of the area. Utilizing this information, he helps develop job retention and creation strategies for Los Angeles County. Mr. Kyser's advice is frequently sought by business, government and the media.

The Los Angeles County Economic Development Corporation (LAEDC) is a private, not-for-profit membership organization whose mission is leadership in the retention and creation of jobs and economic base in the Los Angeles area. Mr. Kyser's analytical research work and insightful knowledge of the regional economy has helped to elevate the LAEDC to recognition as the pre-eminent source of economic information and forecasts on Southern California.

Prior to joining the LAEDC, Mr. Kyser was chief economist for the Los Angeles Area Chamber of Commerce. Mr. Kyser has also worked for Security Pacific National Bank, First Interstate Bank (then United California Bank). Mr. Kyser later joined Union Pacific Railroad in Omaha, Nebraska, where he was transportation economist. He has also taught economics at the University of Nebraska--Omaha, and served as a business reporter and commentator for radio station KVNO-FM, also in Omaha.

A native of California, Mr. Kyser was born in Huntington Park and currently resides in Downey. He holds a Bachelor of Science degree in industrial design and an MBA from the University of Southern California. He has also pursued additional course work at UCLA.

Mr. Kyser serves on the Economic Policy Council of the California Institute, the research and policy arm of the California Congressional Delegation. He also serves on the economic advisors panel for the California Chamber of Commerce. He is also a past president of the Los Angeles Chapter of the National Association of Business Economists; a member of Lambda Alpha--a land economics fraternity; and on the board of directors of the South Park Economic Development Corporation, and the Building Owners & Managers Association of Greater Los Angeles.

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Mike Cantu #40

Bruce is joined once again my Mike Cantu. In this interview, Mike talks about his plans for this cycle, how people without great wealth can participate in this cycle, why attitude is everything, working with Realtors, Mike’s criteria for properties, favorite target rentals, auctions, his long-term strategy, rentals in a down market, and how Mike does not use property managers.

Mike Cantu is undoubtedly one of Southern California's best real estate investors and a long-time friend of The Norris Group. Mike Cantu, 46 years old, has been a full time Real Estate Investor for over 25 years. This is round three of a down market for him. Mike runs a Buy/Sell operation, wholesales, and manages a rental property portfolio.
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Mike Cantu #39

Bruce is joined by one of California’s most savvy and experienced real estate investors, Mike Cantu. Bruce and Mike talk about how Mike got started, how Mike survived the last downturn, how he learned the business, how tough times can show you what you’re really made of, how this downturn is different, what common problems he sees investors dealing with, what makes him go into un-own mode, where deals will come from in this market, and if holding has ultimately been more profitable in the long-term.

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Rick Sharga with RealtyTrac 10-20-07 #38

Bruce is joined by Rick Sharga for a follow up interview after having spoken in March about the current market situation. Rick discusses how RealtyTrac counts foreclosures, how rapidly foreclosures are growing, upcoming auctions, the liquidity crunch, foreclosures and their impact on prices, how the White House is trying to help with the new IRS bill, and which states are seeing the worst of it all.

Rick joined RealtyTrac in 2004 as the Vice President of Marketing. He is responsible for building and maintaining the RealtyTrac brand, corporate positioning and messaging, public and investor relations, and marketing communications activities. As a spokesman for the company, Rick has been quoted extensively in the press on foreclosure, mortgage and real estate trends, and appeared on NBC Nightly News, CNN, CBS, ABC World News and NPR.

Prior to joining the company, Rick spent more than 20 years developing corporate and product branding strategies for technology start-up companies and international corporations such as DuPont, Fujitsu, Hitachi and Toshiba. Rick created and executed successful sales and marketing programs in B2B, technology, consumer electronics and retail for companies like JD Edwards, Philips, Cox Communications and Honeywell.

Rick began his career with one of the world’s largest ad agencies, Foote, Cone and Belding, and also had successful engagements with Ketchum Communications and McGraw-Hill. He founded his own consulting firm, CJ Patrick Company, in 2002 to help companies develop business and brand strategies that clearly communicate a unique value proposition, create a position of competitive advantage, and leverage the strength of their brands in the marketplace.

A nationally-recognized speaker on Branding, Rick spends his spare time taking Tae Kwon Do classes with his 10-year-old son, and trying to keep up with his increasingly-mobile 4-year-old daughter. He also continues in his lifelong quest to find the perfect wine to compliment his BBQ'd baby back ribs.

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Aaron Krowne #37

Bruce Norris is joined once again by Aaron Krowne who is the webmaster behind The Mortgage Lender Implode-o-Meter. Bruce and Aaron discuss the overall economic health of the United States, what real estate could do to unemployment, recession, who has the power to fix the problems, and if stagflation is possible.

Aaron Krowne is a computer scientist and economics enthusiast who has been blogging and writing freelance on economics and finance topics for the past few years. He founded The Mortgage Lender Implode-o-Meter at the beginning of 2007 to draw attention to the problems in the housing finance sector and economy at large.

Krowne also founded PlanetMath.org back in 2001, which continues as a wiki-like mathematics-centric online community. Krowne has recently left his job in research at Emory University's Woodruff Library to work on web information projects full time.

Krowne lives in Atlanta, GA, and thus is no stranger to the effects of the bursting housing bubble. He blogs and posts articles at autoDogmatic.com, iTulip.com, WallStreetExaminer.com, and maintains a Furl.net link archive (under the handle "akrowne").

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Aaron Krowne #36

Bruce Norris is joined by Aaron Krowne who is the webmaster behind The Mortgage Lender Implode-o-Meter. Bruce and Aaron discuss Aaron's background, how he got interested in the mortgage industry problems, and why approximately 160 lenders have seen their doors close or are no longer operate on their own. You might be surprised to find out that only 30% of the lenders on his list are subprime. While employment numbers have been historically good, find out what industries will ultimately be effected.

Aaron Krowne is a computer scientist and economics enthusiast who has been blogging and writing freelance on economics and finance topics for the past few years. He founded The Mortgage Lender Implode-o-Meter at the beginning of 2007 to draw attention to the problems in the housing finance sector and economy at large.

Krowne also founded PlanetMath.org back in 2001, which continues as a wiki-like mathematics-centric online community. Krowne has recently left his job in research at Emory University's Woodruff Library to work on web information projects full time.

Krowne lives in Atlanta, GA, and thus is no stranger to the effects of the bursting housing bubble. He blogs and posts articles at autoDogmatic.com, iTulip.com, WallStreetExaminer.com, and maintains a Furl.net link archive (under the handle "akrowne").

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Donna Bauer #35

Bruce Norris is joined once again by Donna Bauer, The NoteBuyer™. Donna and Bruce discuss California law and note buying, short sales, restructuring debt, seller carry back and why you should be VERY careful about seconds. Donna also shares one of her favorite success stories.

Donna Bauer, nationally known as The NoteBuyer™, began buying discounted notes twenty years ago while raising four small boys. She needed a way to support her family financially that still allowed her to be a stay-at-home mom. Donna was elated to make more than $5,000 on her very first deal. It seemed like all the money in the world compared to the dollar an hour she earned babysitting.

Today, Donna is the nation’s most recognized authority on note buying, short sales, and the booming pre-foreclosure market. Donna’s exclusive strategies have produced stunning results for thousands of investors regardless of economic conditions. She is founder and president of The NoteBuyer, Inc., which invests in notes and pre-foreclosures throughout the country and offers investors a wide range of educational resources.

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Donna Bauer #34

Bruce Norris is joined by Donna Bauer better known as The NoteBuyer™. Listen as they discuss the concept of note buying and how Donna got started in the business. Learn what states are the most progressive, the general parameters for buying notes, and some important mistakes not to make if you're just beginning.

Donna Bauer, nationally known as The NoteBuyer™, began buying discounted notes twenty years ago while raising four small boys. She needed a way to support her family financially that still allowed her to be a stay-at-home mom. Donna was elated to make more than $5,000 on her very first deal. It seemed like all the money in the world compared to the dollar an hour she earned babysitting.

Today, Donna is the nation’s most recognized authority on note buying, short sales, and the booming pre-foreclosure market. Donna’s exclusive strategies have produced stunning results for thousands of investors regardless of economic conditions. She is founder and president of The NoteBuyer, Inc., which invests in notes and pre-foreclosures throughout the country and offers investors a wide range of educational resources.

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Mike Ferry #33

Bruce Norris continues his interview with one of the nation's leading real estate agent trainers, Mike Ferry with the Mike Ferry Organization. Mike and Bruce discuss the parameters his coaches must achieve to become a coach with the Mike Ferry Organization, how coaching has changed in the last 60 days now that Realtors are listening, how buyers and sellers ultimately decide the price of houses, auctions, healthy real estate markets, and why its important for Realtors to own their own home.

Mike Ferry is the founder of the Mike Ferry Organization, North America’s leading Real Estate coaching and training organization. Mike has been involved in sales and management for more than forty years. During that time he has built an unmatched reputation for success on a foundation of hard work, dedication to his personal goals and 100% commitment to his customers.

Mike began his career with Nightingale-Conant where he was quickly promoted to the position of National Training Director responsible for the sales activities of 1,300 people. He then made the decision to move into the residential Real Estate field as a sales person. After a career of selling homes and earning the honor of being one of the top agents in the state, Mike decided the time was right to launch his own company. Four decades later, The Mike Ferry Organization is a $50,000,000 company with tens of thousands of clients.

Mike’s phenomenal natural ability to train and teach his unique techniques has helped hundreds of thousands of agents achieve and exceed their business and personal goals. The way he inspires all agents at all levels to produce at high levels and apply the rules of business to their Real Estate careers is legendary.

Mike has been repeatedly recognized by the National Association of Realtors® as one of the most influential people in the entire Real Estate profession, along with the President of the United States, the U.S. Congress, Alan Greenspan and Henry Silverman.

As the foremost expert on Real Estate sales techniques, training and motivation, Mike and his company lead dozens of seminars and retreats every year. Real Estate agents, mortgage professionals, title representatives and business executives have increased their production and profit because of the skills and mindset they learned through Mike Ferry. According to Mike, “The business is great because the results agents get from working with us are exceptional. Agents want to know how to sell more homes in less time and that is exactly what we teach them.”

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Mike Ferry #32

Bruce interviews one of the nation's leading real estate agent trainers, Mike Ferry with the Mike Ferry Organization. The two discuss how Realtors have been caught off guard by the market change, how buyers have changed, how this downturn differs from the past, and how he was one of the first to warn Realtors this market was coming. Mike also shares why some of his clients are some of the most successful in the business. They're business is actually getting busier now that the market has shifted.

Mike Ferry is the founder of the Mike Ferry Organization, North America's leading Real Estate coaching and training organization. Mike has been involved in sales and management for more than forty years. During that time he has built an unmatched reputation for success on a foundation of hard work, dedication to his personal goals and 100% commitment to his customers.

Mike began his career with Nightingale-Conant where he was quickly promoted to the position of National Training Director responsible for the sales activities of 1,300 people. He then made the decision to move into the residential Real Estate field as a sales person. After a career of selling homes and earning the honor of being one of the top agents in the state, Mike decided the time was right to launch his own company. Four decades later, The Mike Ferry Organization is a $50,000,000 company with tens of thousands of clients.

Mike's phenomenal natural ability to train and teach his unique techniques has helped hundreds of thousands of agents achieve and exceed their business and personal goals. The way he inspires all agents at all levels to produce at high levels and apply the rules of business to their Real Estate careers is legendary.

Mike has been repeatedly recognized by the National Association of Realtors® as one of the most influential people in the entire Real Estate profession, along with the President of the United States, the U.S. Congress, Alan Greenspan and Henry Silverman.

As the foremost expert on Real Estate sales techniques, training and motivation, Mike and his company lead dozens of seminars and retreats every year. Real Estate agents, mortgage professionals, title representatives and business executives have increased their production and profit because of the skills and mindset they learned through Mike Ferry. According to Mike, "The business is great because the results agents get from working with us are exceptional. Agents want to know how to sell more homes in less time and that is exactly what we teach them."

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Peter Schiff with Euro Pacific Capital 9-1-07 #31

Bruce continues his conversation with global finance expert, Peter Schiff with Euro Pacific Capital. Peter talks more about his book, Crash Proof. Peter discusses savings in America and the misconception that homes negated the need to save. Peter also talks about trade deficits, China, the stock market, and the concept of the "soft landing."

Mr. Schiff is one of the few non-biased investment advisors (not committed solely to the short side of the market) to have correctly called the current bear market in U.S. dollar denominated assets before it began and to have positioned his clients accordingly. As a result of his accurate forecasts on the U.S. stock market, commodities, gold and the dollar, he is becoming increasingly more renowned. He has been quoted in many of the nation's leading newspapers, including The Wall Street Journal, Barron's, Investor's Business Daily, The Financial Times, The New York Times, The Los Angeles Times, The Washington Post, The Chicago Tribune, The Dallas Morning News, The Miami Herald, The San Francisco Chronicle, The Atlanta Journal-Constitution, The Arizona Republic, The Philadelphia Inquirer, and the Christian Science Monitor, and has appeared on CNBC, CNNfn, Fox News and Bloomberg. In addition, his views are frequently quoted locally in the Orange County Register.

Mr. Schiff began his investment career as a financial consultant with Shearson Lehman Brothers, after having earned a degree in finance and accounting from U.C. Berkeley in 1987. A financial professional for nineteen years he joined Euro Pacific in 1996 and has served as its President since January 2000. An expert on money, economic theory, and international investing, he is a highly recommended broker by many of the nation's financial newsletters and advisory services. Mr. Schiff holds NASD Series 4,7,24,27,53,55, and 63 licenses.

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Peter Schiff with Euro Pacific Capital 8-25-07 #30

Bruce is joined by global finance expert, Peter Schiff with Euro Pacific Capital. Listen in as they discuss the current market, its effect on the real estate market and the economy at large. This is one of the more negative interviews. First time listeners beware!

Mr. Schiff is one of the few non-biased investment advisors (not committed solely to the short side of the market) to have correctly called the current bear market in U.S. dollar denominated assets before it began and to have positioned his clients accordingly. As a result of his accurate forecasts on the U.S. stock market, commodities, gold and the dollar, he is becoming increasingly more renowned. He has been quoted in many of the nation's leading newspapers, including The Wall Street Journal, Barron's, Investor's Business Daily, The Financial Times, The New York Times, The Los Angeles Times, The Washington Post, The Chicago Tribune, The Dallas Morning News, The Miami Herald, The San Francisco Chronicle, The Atlanta Journal-Constitution, The Arizona Republic, The Philadelphia Inquirer, and the Christian Science Monitor, and has appeared on CNBC, CNNfn, Fox News and Bloomberg. In addition, his views are frequently quoted locally in the Orange County Register.

Mr. Schiff began his investment career as a financial consultant with Shearson Lehman Brothers, after having earned a degree in finance and accounting from U.C. Berkeley in 1987. A financial professional for nineteen years he joined Euro Pacific in 1996 and has served as its President since January 2000. An expert on money, economic theory, and international investing, he is a highly recommended broker by many of the nation's financial newsletters and advisory services. Mr. Schiff holds NASD Series 4,7,24,27,53,55, and 63 licenses.

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