Gauging the repercussions of Bear Stearns' meltdown
April 09, 2008 04:25PM
From the April issue: Two days after the collapse of Bear Stearns, the country's fifth-largest investment bank, Brian Huang, the sales manager at City Connections Realty, e-mailed his brokers to say that the bleak news could also represent an opportunity. "Currently, the real estate sales market is already slow, and this is certainly going to add to the problems we are facing," Huang wrote. "Any aggressive pricing is going to mean that the apartment is going to sit and sit and sit on the market." He continued: "But now that the market is down (marginally, not like the rest of the country), this is the perfect time to pull the trigger. … Explain to your buyers that now is the time to buy."
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