From the January issue: Many real estate investors in New York find it a struggle to hold on to their properties at a time of plunging prices and scarce refinancing opportunities, but others can’t wait for things to get worse. When most investors are crouched in defensive postures, it’s a near certainty that the next John Jacob Astor or the next Harry Helmsley is out there building or expanding their empire. For nearly 200 years, market downturns have provided opportunities for those with initiative and intelligence.
During busts, nerves of steel and guts to buy
January 16, 2009 05:18PM
By Alex Ulam
