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Brokers Weekly

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Published: 6/30/2010Source: Brokers Weekly

In stark contrast to the 2009 end of program year luncheon, the mood was cautiously optimistic at the REBNY Owner Manager Luncheon at the N.Y. Athletic Club. Dr. Sam Chandan of Real Capital Analytics delivered a keynote address which highlighted an upswing in certain NYC residential market segments. He reminded the crowd that this is the second mildest recession in New York City's history and that New York City's present recovery is progressing faster when compared to previous recessions. Dr. Chandan echoed FDR when he said that real estate buyers have no sense of urgency but a great deal of fear. The big obstacle for most consumers/ purchasers is a lack of a consistent policy/message from Washington which instills fear in the public. He concluded his remarks citing statistics proving that the economy is growing - slowly - but growing. Pictured above I-r: Janet Lowry, Corcoran Real Estate; Chris Peters, Prudential Douglas Elliman; Nan Mar-Elia, Prudential Douglas Elliman; Eileen Spinola, REBNY.

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