In a recent interview, Douglas Elliman head Dottie Herman told Crain’s that she isn’t seeing signs of a housing bubble. And when asked how longtime Elliman broker Leonard Steinberg’s departure for Urban Compass affected her, she added that she will always remember him as a good cook.
“[The market] is strong, but you can’t borrow money like you could prerecession. You have to have skin in the game whether you’re a developer or a person buying an apartment. So people aren’t flipping like they were before,” Herman said when asked if she sensed a housing bubble building. [more]