Where Are the Pockets of Strength in Real Estate?
CNBC asked real estate experts for their insight on the economy, the housing market and commercial real estate.
LeFrak on Commercial Real Estate
“I think it’s very uneven right now, and I think that the problems with credit are quite severe still. The amount of money available for supporting these transactions is very limited, because the CMBS issuance is down by 90 percent.”
Richard LeFrak, The LeFrak Organization President
Building Talk With Trump
“If you look outside the country, it’s doing very well. Large sections of the world are doing very well. This country generally isn’t, and yet Manhattan is very strong.”
Donald Trump, Trump Organization Chairman & President
Raising the Roof on REITs
“If the credit markets come back, it’s better to be a private operator of real estate. If they don’t, and they’re somewhat diminished, if they are not so robust…then being public would be a good thing.”
Steven Roth, Vornado RealtyTrust Chairman & CEO
Capri Capital’s Saudi Arabia Deal
“There are 6.3 billion people living outside of the United States, and the international emerging markets are growing very quickly. Saudi Arabia has just begun to open up its economy to the world, and it’s the 800 lb. gorilla of the Middle East.”
Quintin Primo, Capri Capital Advisors CEO