Newmark leadership talks bearishness

Think everyone in the real estate business is sick of all this doom and gloom? Not the leadership over at Newmark Knight Frank. Partners Jimmy Kuhn and Jeff Gural sat down with the Observer and discussed how they were bearish early on and how the housing market’s malaise is an opportunity for transition. “This is the greatest mining time we’ve had in the last 10 years,” Kuhn said. But the Newmark veterans’ outlook was tempered by caution. In the years leading up to the credit crisis, they made more conservative moves, Gural said, eschewing the irrational exuberance that lead many to overpay for space.