A Quote by Aby Rosen
New York as an industry is the best city for real estate. You're in a very transparent market. If you need to liquidate, you make three phone calls and you could sell something, even in the worst market. It is also less forgiving; if you make a mistake you can lose money.
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Make your money on the buy, not the sell; this is true in any investment whether it's real estate, business, or the stock market
The mistake managers often make is defining their industry too narrowly. Digital's market share in the minicomputer market stayed very robust even as it fell off the cliff. Disruption seems to come out of nowhere, but if you know what to look for, you can spot important developments well before the market does.
Today the strategies of many companies in the real estate industry are premised on low interest rates, an assumption that has resulted in the rapid expansion of the real estate securitization business. This trend could be regarded as a risk factor, as it exposes the real estate sector to at least three potential problems: first, interest rate hikes; second, revisions to securitization business accounting standards; and third, overheating in the real estate market.
I think a lot of people try to time the market when it comes to buying or selling a property or investing in real estate, but the real secret to real estate is not timing the market, but time in the market.
I have big belief in the Greek real estate market. We live in a lovely country and we need to make investing in Greek real estate more attractive.
Chicago seems to follow New York, and coming from New York and being in real estate, I worry about things happening in Chicago that have happened in New York. I've seen a great city like New York go downhill. It has a wonderful financial downtown, but the rest of the city is not very nice.
Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate.
Increasingly, the real estate developers can't get bank loans for their project financing in China. They're now going into the Hong Kong market to raise money in the bond market at very, very high rates, as high as 15, 20 percent.
I don't know if it's a small-market thing or not, but we never get the benefit-of-the-doubt calls like New York, L.A., Miami and the big market teams. That's just the way it is.
People are afraid of trying something new, of failing even before they start. My point is, what is the worst that can happen? You will fail and friends who warned you will say 'I told you so!' So you made a mistake - and will hopefully make many more. But hey! The real tragedy is not the mistake you make, but not learning from it.
What went wrong is we had tremendous concentration in the sense we put a lot of our money to work against U.S. real estate. We got here by lending money, and putting money to work in the U.S. real estate market, in a size that was probably larger than what we ought to have done on a diversification basis.
Security tokens are going to give birth to a quadrillion dollar market. This is because we will see the tokenization of the world's fiat money, debt market, real estate, equities, and art.
I think small business is struggling in New York City. It's a fantastic market, it's a very appealing market, there's lots of opportunity, at the same time it's a very difficult place to build a small business.
Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate. It will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up from less competent people.
I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.
Since 2008 you've had the largest bond market rally in history, as the Federal Reserve flooded the economy with quantitative easing to drive down interest rates. Driving down the interest rates creates a boom in the stock market, and also the real estate market. The resulting capital gains not treated as income.
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