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“Exuberant Bubble” or “Fundamentally Sound” Where are Real Estate Prices Going?. With Guest Speakers: Peter F. Korpacz, MAI Robert A. Knakal Frank Nothaft, Ph.D. Presented Jointly by:. The Metro NY Chapter Appraisal Institute Mark Pomykacz, MAI President.

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exuberant bubble or fundamentally sound where are real estate prices going

“Exuberant Bubble” or “Fundamentally Sound”Where are Real Estate Prices Going?

With Guest Speakers:

Peter F. Korpacz, MAI

Robert A. Knakal

Frank Nothaft, Ph.D.

Presented Jointly by:

The Metro NY Chapter

Appraisal Institute

Mark Pomykacz, MAI

President

Steven L. Newman Institute

Baruch College

Barry Hersh, AICP

Associate Director

Friday, September 30, 2005

the panelists
The Panelists
  • Peter F. Korpacz, MAI,

Director of the Global Strategic Real Estate Research Group of PricewaterhouseCoopers (PwC),

  • Robert A. Knakal

Founding Partner of Massey Knakal Realty Services.

  • Frank E. Nothaft

Chief Economist for Freddie Mac

introduction
Introduction

Mark Pomykacz, MAI

  • President of the Metro NY Chapter of the Appraisal Institute
  • Managing Partner of Federal Appraisal & Consulting LLC

Real estate and business appraisal and advisory firm

  • Member of the National Board of Directors of the Appraisal Institute
  • Teaches Income Capitalization, USPAP and Seminars for the Appraisal Institute and New York University
  • State certified general real estate appraiser in six states
  • Published several articles on appraisal and property taxes
  • Specializes in the appraisal of complex issues, such as IRS, SEC and other financial reporting, and in the appraisal of complex properties and assets such as utilities, power plants and telecommunications assets
exuberant bubble
“Exuberant Bubble”

Background

“Fundamentally Sound”

preception vs reality
PRECEPTION vs REALITY
  • Just the facts, Ma’am
  • Talking about it, can make it happen

"That greater tendency toward self-correction has made the

cyclical stability of the economy less dependent on the actions of

macroeconomic policymakers, whose responses often have come

too late or have been misguided,“ the Man, Tuesday, Sept 27, 2005

appraisers in action
Appraisers in Action

Survey of Members

of the

Metropolitan Chapter

of the

Appraisal Institute

are we in a bubble
Are we in a bubble?

“History cautions that extended periods

of low concern about credit risk have

invariably been followed by reversal”

are we in a bubble1
Are we in a bubble?

Translation –

“What! Where yous been livin?

In a bubble!

And

Don’t touch my hair”

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