Crains New York

November 22, 2009 5:59 AM

Small buyers get their shot

With less competition from speculators, end users are stepping up—but financing is tough


“After years of being sidelined by stratospheric prices, small businesses, nonprofits—and even the occasional country—are snapping up new homes for themselves at prices that average 32% below the peak of two years ago. Once routinely outbid by developers, today’s small buyers are seizing on a far softer market to secure a long-term base for their operations. That will save them from having to worry about rising rents, and at the same time give them an opportunity to own something that’s likely to appreciate over time.”

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