Official Carleton H. Sheets^® Website

By: Marcelle S. Fischler, New York Times, September 8, 2011

ERIC FRIEDLANDER of Oyster Bay, the owner of the Windemere Development Corporation, used to build subdivisions and single-family homes from Southampton to Smithtown and Bellmore, sometimes on speculation.

That all stopped a few years ago with the bursting of the real estate bubble. And any glimmer of economic improvement at the start of this year has since been stamped out by a summer of debt-ceiling stalemate, national credit rating downgrade and stock market gyrations — to be followed next month by the lowering of the limit on federally guaranteed mortgage loans, which could force many borrowers to pay higher interest rates.

To read more, go to: http://www.nytimes.com/2011/09/11/realestate/more-buyers-backing-out-in-the-region-long-island.html?_r=1&ref=realestate

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