A View of the Real Estate Market for 2010
In Chapter 5 of 9, real estate developer Brett Goldman offers his on-the-job experience view, which is counter to academic theory. Daily exposure to the New York City real estate development market offered acquisition director Goldman a reality-based view that the market will not begin consistent recovery until 2010.
Brett Goldman Chapter 5 Transcription 00:00 to 00:08 Erik: How long until we find ourselves in a normal financing environment? 00:09 to 00:51 Brett: Well, I was at a conference recently, actually not that recently, back in September / October, which is really when this crisis really started, even though the subprime crisis started a year and a half ago. At the conference, a very, very well regarded economist said June 14, 2009. Here we are at the end of March and we are still on the way down. I still highly respect this economist but nonetheless I don’t think so. I think we will be into 2010 until we start to see any real signs of recovery.