BULL vs BEAR: The Video
Posted by Noah Rosenblatt on January 10, 2008 at 9.34 PM
A: Link on Inman News courtesy of the very great Wellcomemat video service!
The panel went over its time limit but it was worth it! Once we got into the discussion, I thought the topics discussed were right on. Enjoy!
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Comments (5)
I love Dottie. I'm going to invite her to my seder.
But man, can she talk. Too bad we couldn't hear your and the others' views on the Manhattan market.
Posted by anon | January 11, 2008 8:03 AM
Yea, we should have had a bit more on that but we ran out of time..ha, funny comment
Posted by Noah | January 11, 2008 8:32 AM
Noah, congratulations on your participation. You have now "arrived" as one of the gurus of the real estate bear market.
Btw, it was my first time to see you in video. You looked great!
Posted by BB | January 12, 2008 12:17 PM
thanks BB - Hopefully my bearish view doesnt last too long and the economy isnt as affected by all this uncertainty.
Anon - My outlook on Manhattan is mixed. Im bearish on buyer confidence, sales volume, pricing, and inventory. However, at the same time, inventory right now is still very tight. Until that changes, you will NOT see a significant drop. You will probably see a 2-4% price drop even now as properties clearly are not being chased after even as inventory is tight. But for a 10%+ drop you need to have supply build and seller competition. That is what is yet to be seen. If buyer confidence is worse, then sales volume will be awful and inventory will build.
Lets see how it pans out. I am worried about new dev resales, and potential problems with closings due to tighter standards in lending environment and lack of easy appraisals coming in for prices that were signed in early 2007. Anything over $1500+/sft, could be hard to appraise in this new environment
Posted by Noah | January 13, 2008 10:38 AM
Thanks for posting the video- good to see you at Connect.
Posted by Greg Tracy | January 14, 2008 3:56 AM