Tag Archives: average price vs. median

Don’t blame us brokers if you over paid!

Or so says the head of New York’s Realty Board in a letter to Craine’s Business Report.It’s a fair amount of blather but I liked his statement that New York sales were mostly to smart Wall Street types who are sophisticated enough to figure out for themselves that they’re being fed a line of bull. I like it because that’s the exact defense Wall Street asserts when a customer complains that they took the advice of their “financial adviser” and got hosed. “If you’re intelligent enough to inherit a million bucks we can steal, Widow X, you’re intelligent enough to know that your “adviser” is just a used car salesman, out to take your money – next case”.

And this part could have been written by Mad Monkey. In fact, perhaps it was.

Finally, it is troubling to think that Crain’s believes that the real estate market in New York City is no different from the rest of the country. The type of ownership, the impact of Wall Street, the value of the dollar and the excitement of living in New York are just a few of the factors that make New York different. Our residential brokers understand all of the factors that drive our market, and I am proud of the information and service they provide their clients and their love of our city.

Steven Spinola
President
Real Estate Board of New York

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