Quote of the day: the ups and downs of real estate

“Chicago has been the fulcrum of the teeter-totter. It has never gotten up as high as New York, Miami, California — and never as low. It’s much more stable. Our business practices have been much more conservative in lending and in selling, so we are not seeing the excess of those markets for the most part. There are some developers that played a little more fast and loose.”

– Herb Emmerman, CEO of Equity Marketing Services, talking to New Homes Magazine

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