The Real Deal New York

Not “living in tents” — yet

January 13, 2009 05:20PM

Prudential Douglas Elliman CEO Dottie Herman says the real estate industry went through “a period of shock” in September. But Herman — who was speaking on an Inman News panel at the Marriott Marquis in Times Square late last week — said she “has to assume that most of the guys on the top end of the financial market made enough to survive — at least a year or two.” David Michonski, CEO and Chairman of Coldwell Banker Hunt Kennedy, chimed in that “they are not living in tents,” to which Herman jokingly replied: “Not yet. Because that was an alternative business we were putting together.” Meanwhile, appraiser Jonathan Miller, president of Miller Samuel and another panelist at the three-day Inman conference, said he’s viewed the last seven or eight years as “more of a mortgage boom than a housing boom.” For excerpts of the panel discussion, click on the video below.

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