Barbara Corcoran was on Larry King Live last night as part of a panel on the mortgage mess (transcript here). The founder of the Corcoran Group, now an author and TV personality, couldn’t understand why more people weren’t now buying homes and quickly:
I think you ought to be out there shopping the market now. You have three times more inventory. Prices have been reduced by over 15 percent in many markets, some markets 66 percent. And there’s cheap money still. Why wouldn’t you be shopping right now? I can’t imagine why people are sitting at home in their La-Z-Boy chairs.
Barely a few minutes later, though, in response to a question about the origins of the mortgage crisis, Ms. Corcoran said somberly: