I had a chance to sit in and listen to what I found to be a fascinating debate on the current housing crisis when I was in Manhattan on Wednesday, 1/9, at Inman Connect.  The five members of the panel were Dottie Herman, President and CEO of Prudential Douglas Elliman, Barry Ritzholtz, Fusion IQ, Noah Rosenblatt, Founder, Urban Digs, and Professor Nouriel Roubini, New York University's Stern School of Business.

What struck me as I was sitting there listening to the panel was how surreal the panel was.  We had Dottie Herman on the left side of the panel, light, bright and almost downright breezy on the health and heartiness of Manhattan real estate, contrasted by Prof. Roubini, on the far right, glowering, dismal, and so dark in his predictions you almost felt like stepping in front of a NYC taxicab, just to put an end to it all. In between we had the other three panelists, much more moderate in their views of the current situation, but definitely on the bearish side.

Here are a few quotes I jotted down.

Dottie Herman~ we lived through 19 1/2% interest rates and we will make it through again.

Rosenblatt ~ This is a necessary but good thing for us to go through. We should go through this and accept it. This has to happen, he said, we need this downturn."

Roubini~ There will be 10 million houses with negative equity.  This is not just a housing crisis, this country is in a debt crisis.

And I wish I knew who said this one~  "We need Wall St to open up the kimono and start making loans again"

If you have the time to listen to the panel discussion, The Housing Debate: Bull vs, Bear, here.  I guarantee you will find it fascinating.

 

Lisa Ryan, Your Princeton and Montgomery Real Estate Specialist

 

 

Disclaimer: The opinions expressed by The Activerain Network and it's members and those providing comments are theirs alone, and do not reflect the opinions of Lisa Ryan and Prudential NJ Properties.  Lisa Ryan and Prudential NJ Properties are not responsible for the accuracy or content provided by The Community.

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Post is included in group: Inman Connect NY

407 Comments on Inman Connect~ The Housing Debate: Bull vs Bear

JAN
12
2008
294,136 Points 100 Featured Posts Localism Sponsor Outside Blog
Thanks for this link Lisa.  I'm going to listen.  Appreciate your summary too.
8:15pm • #1
267,155 Points 18 Featured Posts Outside Blog
Lisa - thanks for sharing - I guess I choose to stay optomistic - though it is a challange with the media - you wonder how much will be a self fulfilling prophecy.  
8:24pm • #2
359,301 Points 59 Featured Posts Localism Sponsor Outside Blog Hit Router
Lisa, anyone who plans to listen to Professor Roubini's dire predictions should make sure to have a bottle of Scotch nearby.  Thanks for providing the link to the video.  It was great meeting you the other day.
8:45pm • #4
2 Featured Posts

Lola~ Prof. Roubini's take on the crisis is extremely bleak, I would love to hear your take on his comments.

Cyndee~ I think the main problem is we have been ignoring the warning signs for several years now and the debt crisis is spiraling out of control.

8:56pm • #5
2 Featured Posts

Brian~ some may need a 5 gallon bucket of Scotch.  It will be interesting to look back and see how close Roubini comes in his predictions, as he said, he was overly optimistic in the past with his forecasting.

Great meeting you too!  I'm sorry I didn't get a chance to say good bye at the end at the Paramount.  Did you see the pictures I posted?

9:03pm • #6
2 Featured Posts
Taunya~ let us know what your take is on the panel's thoughts.  Thanks for stopping by.
9:04pm • #7
JAN
13
2008
320,923 Points 40 Featured Posts Outside Blog
Lisa--Doesn't surprise me as there is so much gloom and doom that the panel would have someone with this attitude. Since I don't want to hang up my license, I would be more on the other side of this debate as this too shall pass! Thanks for sharing!
9:20am • #8

Lisa,

Very professional and classy.  But then again I would expect  nothing less from you!!

Peter J. Brock
3:23pm • #9
131,900 Points 10 Featured Posts Outside Blog

Lisa  -  Thanks for the Link!  I've been looking for these!  I actually agree that hte housing crisis is a NATIONAL criss - look at the TAX DOLLARS we will continue to lose!  Someone, Pat I think, said HEALTHCARE could be the root of this.  I agree.   I think any answer to the issue must include some help for healthcare costs...

4:37pm • #10
2 Featured Posts

Teri~ I'm not hanging up my license either.  As with all cycles, this will pass, but, hang on to your seats, we're in for a bumpy ride.

Peter~ thanks for your comment and for stopping by!

6:12pm • #11
JAN
18
2008
121,318 Points 2 Featured Posts Outside Blog
Lisa-Quite a mix in opinions it seems.  I will check out the debate and listen to more.  Thank YOU for sharing. 
8:30am • #12
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DEC
01
224,760 Points 2 Featured Posts Localism Sponsor Outside Blog

Lisa,

I fully recall the 19 percent interest rates but this time, things are different.  Really, I'm not sure how we got through that time in history but we did.  There was lots of owner financing.

7:24am • #191
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Montgomery, NJ

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