The Real Deal Miami

Barbara Corcoran says Wall Street gains largely psychological

October 20, 2009 11:45AM

Barbara Corcoran, founder of the Corcoran Group, discussed whether the housing market hit bottom, on the “Today” show this morning. Corcoran noted that while Wall Street has made some gains in the last week with the Dow hitting 10,000, that doesn’t necessarily affect the entire housing market. Wall Street’s gains, in some regards, have more of a psychological effect on the housing market, Corcoran said. “When Wall Street is happy,” she said, “it creates a little note of optimism — makes some people think ‘well the worst is behind us.'”