[Vortex] Straight from MacCrate: When Will Real Estate Prices Stabilize in the New York Metropolitan Area?
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Jim McCrate, MAI CRE is one of the foremost commercial real estate appraisers in NY, and is a Counselor of Real Estate, the premier designation in the industry. While I worked worked with many of the top MAI’s in Manhattan, I never had the opportunity to work with Jim. However, I know his reputation is well founded. This article is somewhat distressing to read, but I agree with it. In the late 80′s, early 90′s, once the market finally stabilized, pricing was flat for some time before things picked up/ Right now the “market” should be concentrating on leveling off, not going up. More realistic expectations would benefit everyone, and moderate some of the psychological “angst.”
