1. California State University, Fullerton a public comprehensive university a total of about 35,000 students the largest in the 23 campus California State University system ethnic distribution: 0.25% American Indian, 21% Asian, 2.5% Black, 33% Hispanic, 29% White, and others 5% international students from 79 nations located at suburb of Los Angeles, about 30 miles to LA

2. Real Estate Program at Mihaylo College Mihaylo College of Business and Economics is the largest business school in California, the fifth largest in the U.S. Real Estate Program is the most prestigious program at Mihaylo College Top 18 world-wide ranking of real estate research 1973-2008 Top 12 world-wide ranking of real estate research 1999-2008 Top 5 world-wide ranking of real estate research 2006-2011

3. My contribution to the real estate program World-wide ranking by individual scholars during 2006-2011 Worldwide RankAuthor's Last NameAuthor's First NameAuthor's Middle Name 1SirmansC F 2HardinWilliamG 3OngSeow-Eng 4LinZhenguoL 5HoesliMartin 6ChinloyPeter 7GhoshChinmoy 8JohnsonKenH 9LingDavidC 10WuZhonghua

4. Real Estate & Land Use Institute Brief Bio, Zhenguo (Len) Lin Professor of Finance, CSUF Mihaylo College of Business, 2011.8 - present Interim Robert Warren Chair of Real Estate, Mississippi State University, 2009.8 – 2011.8 Senior Economist, Fannie Mae, 2002.7-2009.7 Ph.D., University of Wisconsin, Madison, 2004 Len Lin Image here

5. Every year we have many visiting scholars around the world If you are interested in real estate research and would like to come to Los Angeles for a short period of time (one semester or year), you can contact me. Visiting Scholars Opportunity at California State Univ., Fullerton

6. China Real Estate Training program with Bob Taylor In the last 15 years, Chinese housing market has witnessed about 10 times home price appreciation. The need for Chinese government officials, scholars, developers and investors to learn and experience international best practices in real estate has never been more acute. Combining the strength of Cal State Fullerton and REMM International Inc. in real estate with the growing demand for the cutting-edge knowledge from China, we envision that this program will be successful.

7. Residential real estate market: past, current and future

8. Residential real estate market: Past 8

9. Spillover Effects of Foreclosures on Neighborhood Properties Is There a Vicious Cycle? Home price declines Defaults and foreclosures spillover effect Home further declines More defaults and foreclosures … 9

10. The Findings of Lin, Rosenblatt and Yao (JREFE-2009) There IS a Vicious Cycle! Home price declines Defaults and foreclosures spillover effect Home further declines More defaults and foreclosures … 10

11. The big impact paper: 114 academic paper citations 11

12. Residential real estate market: Current 12 Research Begins

13. Four decades mortgage interest rate: Historical Low now 13

14. Residential real estate market: Future 14 Home price will continue to go up Mortgage interest rate is expected to go up, too It is a good time to invest in the residential market in the United States

15. Thank you all for listening