The Brooklyn Real Estate Roundtable, hosted by the Brooklyn Historical Society, met on Tuesday to discuss, among other things, whether the economy has finished receding, as some analysts conjecture. The Brooklyn Eagle reports that David Kramer, chair of the roundtable’s steering committee, said: “Perhaps we are at the bottom [of the recession], and there’s a long journey ahead. But at least there’s a journey ahead. Even if there is a light at the end of the tunnel, however, the real estate biz is still in the tunnel. Speaker Mark Caller of the GLC Group noted, for example, that despite relative success with nForth and professed optimism about an upcoming project at 163 Washington Avenue in Clinton Hill, developing in the city nowadays is a “nightmare.” Of course, bad news for developers can be good news for buyers: the original plan at nForth included only hook-ups for washers, but in the current market, GLC also provided washers and dryers with every unit. This is good news, of course, only for buyers who can afford to purchase in today’s economy.
Are We At The Bottom of the Recession? [Brooklyn Eagle]