Housing Not Such a Sure Thing in 2014: Miller

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June 25 (Bloomberg) -- Jonathan Miller, president and Chief Executive Officer at Miller Samuel, discusses the U.S. housing market with a focus on Manhattan real estate. He speaks on “Bloomberg Surveillance.”

Change from the emotion, i am never investing in the stock market again and i'm only going into real estate?

Is that song and dance changing?

Im'm not sure.

Mixed messages about housing for the last six months.

It has been gloom and doom and now we are getting some unusually high numbers of new home sales and confusing messages.

I don't know if the consumer is really deciding what is better than the other.

Housing last year, no-brainer.

This year i'm not sure.

Two people yesterday asked me the same question, how can manhattan housing be booming, case-shiller shows new york numbers so lousy.

How do we get -90 day statistics on new york metropolitan area.

We know the zaniness in three blocks of the studio.

The case schiller numbers of new york reflects the market in december, before the polar vortex or anything like that.

There is a six-month lag.

It has nothing to do with new york city, it does not include co-ops, condos, new development.

All the things that are building.

There's the answer on bloomberg "surveillance." clarity from miller.

And a lot of times we will show the camera shot on top of our building and there is this building going up next to us over on park avenue.

I just read that a full floor one for $90 million cash?

Tom lost the bid.

Where's the money coming from?

That building is going to be 1400 feet high, 400 feet taller than the tallest building we have so far.

I don't know where that specific transaction, but a lot of the deals are foreign buyers.

I don't want to state that -- i don't want to overstate that, it is still in the new development space.

Foreign buyers are accounting for about 50%. 5-5? 50% of new development.

Do foreign buyers include people from westchester?

[laughter] jonathan miller, our guest host, along with kate moore of j.p. morgan private bank.

Gopro about to go public, is it a financially sustainable country.

What is the most disruptive

This text has been automatically generated. It may not be 100% accurate.


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