Did you catch this interview with Ian Schrager on Bloomberg Business?
The press speaks of bubbles all the time and it’s great viewing; I believe we will see a correction, but not to the magnitude that we saw during the market downturn.
Personally, I feel the impact more in the residential market than the commercial market. When we see a fluctuations in the economies of foreign countries whose citizens invest in our neighborhoods, we will see a shift in our sales.
On a positive note, more Americans are buying and we are seeing investors from countries like China and Saudi Arabia come to our market. We also have and will continue to have a new commercial infrastructure component. This will drive people to the area to live and work.
What do you think? Is our market booming or busting?