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“There will be a softer real estate market in some areas as a result, but I keep telling people there is no bubble.”
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“The residential market is going to level out for a while after years of huge gains, but that does not mean there is a bubble.”
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“That's why we're seeing a lot of going-private transactions.”
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“We made fortunes off of leverage (before going public), and you're not going to make fortunes in the public market off of leverage.”
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“You have developers who weren't rich to begin with, who went public, and then figured out they couldn't get rich.”
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“Creating these companies and operating under the public scrutiny has changed the real estate business pretty dramatically.”
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“There is oversupply at the moment. But we have lowered supply, and over the next 18 months the situation will get better.”
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