Real Estate Connect – The Housing Debate: Bulls vs. Bears

January 12, 2008

I’m so glad that Brad Inman, of Inman News, posted the following video. This was hands down the most interesting discussion that I attended this past week.

The speakers on the stage were made up of the following:

• Andrew Ross Sorkin – Assistant Editor, Business & Finance, Chief Mergers and Acquisitions Reporter of the New York Times
• Dottie Herman – President & CEO of Prudential Douglas Elliman
• Barry Ritholtz – Chief Market Strategist, Ritholtz Research & CEO; Director of Equity Researh, Fusion IQ
• Noah Rosenblatt – Founder of Urbandigs.com/Licensed Real Estate Sales Person, Citi-Habitats
• Professor Nouriel Roubini – Co-founder & Chairman of RGE Monitor; Professor of Economics at New York University’s Stern School of Business

The most colorful speaker was by far Professor Nouriel Roubini. There were a few times where everyone in the room was saying to each other “I can’t believe he just said that”. He cracked me up because he was so matter-of-fact. That’s one person that I’d love to have a conversation with over lunch. Barry Ritholtz and Noah Rosenblatt were also very insightful.

I also love what Barry Ritholtz says about “anchoring”. Sellers need to detach themselves from anchoring and either delist their properties or be realistic in pricing their properties. What he has to say is so true. I’ve been saying this for months. The real estate market needs to hit the reset button.