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Gene Berman on Last Week's Poll

'Well-located real estate is still in big demand and buyers are out there.'

By Carl Cronan | Updated on October 03, 2008

ARE MAJOR BANK-BRANCH CLOSINGS ON THE HORIZON?

On the heels of the federal bailout of Washington Mutual and the latest big-bank merger between Wachovia and Wells Fargo, last week’s Quick Poll asked whether major bank-branch closings are on the horizon. An overwhelming 78% majority indicated “true.” Gene Berman, senior managing director of Marcus & Millichap in Fort Lauderdale, shares his thoughts with GlobeSt.com on the subject:

“It’s still too early to tell. WaMu was obviously a big blow, and the biggest concern over the financial bailout bill before Congress is solving liquidity and the ability to borrow. The bill raises the ceiling on insurable deposits so that there are no more runs on banks.

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