Ian Schrager’s Take on “The Bubble.”

Ian Schrager’s Take on “The Bubble.”

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?