Real Estate New York

NEW YORK CITY-With New York City leading the nation in job andwage growth, its economic future has no signs of weakening, saidpanelists at a Real Estate Outlook seminar earlier today. Housingdemand is booming here as well.

The discussion included Rosemary Scanlon, a panelist and anassociate professor of economics at the Real Estate Institute ofNew York University and a consultant in urban and regionaleconomics; John Powers, chairman of the New York Tri-State Regionof CB Richard Ellis; Stuart Match Suna, co-owner and president ofSilvercup Studios and Barry B. LePatner, founder of LePatner &Associates. Scanlon said describing New York City's economy as"robust is an understatement." When Wall Street is doing well, sodoes New York City, since 21% of the total wages in the city aregenerated on Wall Street. "So much is driven by what happens onWall Street," she said. In addition, Wall Street bonuses were up by20% in 2005, over the previous year, which is very much anindicator of good times ahead.