Millionaire Broker Barbara Corcoran answered CNBC viewer's real estate questions. Below are some of her answers:
Question: Can you elaborate on why ending our war in Iraq would stimulate the housing market. (Barbara mentioned her belief that ending the Iraq war would have a positive effect on the housing market on CNBC TV Jan. 9.)
Answer: First, there’s the feel-good factor. An end to the war would make people feel more secure about their lives and the future of our economy. It would increase people’s willingness to take the plunge and buy.
Second, we are spending hundreds of billions of dollars on the war in Iraq. If whichever administration is in power when it ends decides they want to artificially stimulate the market, they’ll have a lot more money to do that with. Instead of shoring up other people’s economies, we’ll be able to concentrate on shoring up our own.
Q: When will the New York market be considered a buyer's market? Are we in it, close to it, or is this as good as it gets?