Gauging the repercussions of Bear Stearns’ meltdown 

April 09, 2008 06:29PM

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.” 


Comments are closed.