That was the consensus on Thursday, along with a heavy dose ofpessimism about the economy, and commentary on everything from thelending crisis to the near-term future of the multifamily industrydelivered by dozens of speakers to some 1,200 people attending theRealShare event at the Westin Bonaventure Hotel in Los Angeles.

The all-day conference and networking event was closely tied tothe current state of the economy and the commercial real estatemarkets as well as the financial situation on Wall Street.

This year's Apartments 2008 conference included a lineup ofnearly 60 speakers and panels designed to address every facet ofthe multifamily market, its relationship to the industry in generaland other industry issues. The event featured a presentation byCMBS pioneer Ethan Penner, now with CB Richard Ellis Investors,whose talk was more like a eulogy for the market to which his nameis so closely tied.