Good Overview Of Real Estate Market

I thought this interview with Richard LeFrak had a lot of truth in it…

The take-aways are:

  • There’s a glut of single-family homes across the nation. Values are still 10 to 15% higher than they should be and are likely to continue to decline.
  • Rental properties are doing very well right now since people are afraid of being trapped in a bad investment if they buy, so they’re renting.
  • A lot depends on the City. If the City has job growth its real estate market is fine (e.g. Washington D.C.)
  • Commercial real may be going back into a bubble. Low interest rates are what’s spurring the investment.
  • New York City is doing pretty well.

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