10.10.2008 - Even the wealthy are nervous about the housing market
From Marketwatch.com: Barbara Corcoran recently got a call from an individual so rich and famous she thought it had to be a joke. But this random call it wasn't a prank: The person, so shaken by recent events in the financial markets and so uncertain about what it would mean for him, called her for advice because he was about to buy a $47 million property in New York and he was nervous about completing the deal. "He was as frightened as a first-time buyer -- asking all the same questions," said Corcoran, founder of The Corcoran Group, a New York-based residential real estate firm. She spoke during a recent conference call with reporters about the state of the real estate market, hosted by the real-estate Web site Trulia.com..... Full Article: Source
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