NEW YORK CITY—In the latest episode of the Knakal News Network, Massey Knakal Chairman Robert Knakal looks at the current realty environment and notes a resemblance with another landmark year in New York real estate: 1988.
Consider that 2012 saw an increase in volume due to a potential capital gains tax increase, only to taper in 2013. By comparison, 1986 got a bump following that year's tax reform act, a jump in activity that 1987 could not keep up with. Knakal sees the government actions in both cases accelerating demand. He explains why the pattern should continue, and includes dollar and volume projections that would make the year very 1988.
To see the full video, "2014 is Reminiscent of Another Long Ago Year," click here. For other videos from the Knakal News Network, click here.
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Geoffery Metz
Geoffery Metz is the content manager for ALM's GlobeSt.com, Credit Union Times and Treasury & Risk. Before joining ALM, he spent several years overseeing the newsroom at the financial wire service Business Wire, with special focus on multimedia presentation for the web.
