Return of Big Bonuses May Help Practitioners
Real estate practitioners with clients who work on Wall Street are celebrating the return of generous bonuses.
They report that traffic to local real estate sites is up, visitors to open houses have increased, and interest in pricey units has returned.
Jacky Teplitzky, managing director with Prudential Douglas Elliman, reports two especially big signed contracts.
Some practitioners remain cautious. “I wouldn’t assume that these large bonuses are going directly back into real estate. That was an assumption that was made in a previous era,” says Sofia Song, vice president of research for real estate website StreetEasy.com. “This is a new economy and people are thinking differently and valuing things differently.
Source: The Wall Street Journal, Dawn Wotapka (01/12/2010)
REALTOR® Magazine-Daily News-