Experts: Market’s changed, but not too much

By Tom Acitelli, The Real Deal

They said the Manhattan housing market isn’t what it used to be, but it’s not as bad as people think. And blame the media, they said, if you’re one of those people.

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Appraiser Jonathan Miller, Corcoran Group CEO Pam Liebman, and former Douglas Elliman chairman Alan Rogers participated Thursday evening in a panel discussion at the 92nd Street Y entitled “Making Sense of the Manhattan Real Estate Market.” The panel was hosted by real estate consultancy Braddock + Purcell and moderated by co-founder Paul Purcell, a former Douglas Elliman president.

A sizable chunk of the discussion was about the perception of the end of the housing boom and the speculation that the market remains in a bubble. All three panelists chalked this speculation and perception up to the media. Rogers, for one, called the bubble a “press term,” but he did acknowledge that the market had slowed. more