Barb, OH

The Akron Roundtable's speaker yesterday was Stuart Lichter of Industrial Realty Group.

This was the papers headline:

DEVELOPER SEES PENT UP DEMAND

Mr. Lichter is a real estate devoper who owns 70 million square feet of industrial property in 20 states!

The following are some exerpts of the article in the Akron Beacon Journal

"I don't think I've ever seen people more scared and less understanding of what's going on and what's

likely to happen."

"Certainly this is the most serious crisis we've had since the Depression.......Maybe we'll call it the

Great Recession."

‘‘We should blame the fact that when securitized capital became so significant in this market, nobody

He also places some blame on the price of oil.

‘‘That has been underrated as a cause of what's happening, " he said . Never in history has oil

been above $ 100 a barrel for more than a day or two, let alone for such a sustained period

as during 2008.

‘‘In this country, that's $1 billion a day'' of increased spending, he said. ‘‘ . . . That 's money

that is taken out of the economy."

‘‘There is good news,'' Lichter said. ‘‘There's a natural trend to these things.''

Consult a Realtor to buy a home today!

Caren Wallace

Stouffer Realty

330-697-3227