Reread quote from Mr. Foxman
To the editor:
The discussion about the Lawsons highlighted some interesting points re: the Adirondack Club and Resort.
To quote (reporter Jessica) Collier’s conversation with Mr. Foxman, “people like him (Lawson) have to manage their money right now because there isn’t a lot of cash flowing in the real estate market.
“Most of the people I know in real estate are tight and are managing money and are putting off some debts and paying others, because that’s what they have to do in a market where there are no buyers and no lenders.”
Read this again.
The ACR developer said that MOST of the people he knows in real estate are tight, there is a lack of cash in the real estate market, and there are NO buyers and NO lenders.
Ellen Utley, MD