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New York & Tri-State  |  October 22, 2020
Fifty-seven percent of the 1,302 high-loss CMBS loans analyzed by Kroll Bond Rating Agency were originated between 2005 and 2007
Paul Bubny
By: Paul Bubny

REBNY: Broker Confidence Bottoms Out for Third Straight Quarter

Broker confidence hit a new record low for the third straight quarter, the Real Estate Board of New York said Wednesday. REBNY’s Q3 2020 Quarterly Real Estate Broker Confidence Index shows the current real estate broker confidence index as 3.08 out of 10, its lowest point on record and a 7% decline since its previous all-time low in Q2.

The index results highlight deep concerns about recovery efforts at a time when New York has already lost significant tax revenue due to massive declines in real estate market activity. Additionally, the future broker confidence index is 3.51, an 10% decrease from Q2.
 
“With brokers increasingly uncertain about the future of the market, the bad news is just getting worse for millions of New Yorkers who rely on the everyday government services funded by real estate-generated tax revenue,” said REBNY president James Whelan.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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