We were quoted in a front page story in today's New York Times. Normally I would be happy about this, however I am not. The Times article titled "Buyers Scarce, Many Condos Are for Rent" said while talking about Washington DC, "Since the middle of 2006, the frenzied condominium market here and in several other big cities like Las Vegas, Miami and Boston has collapsed". I can't speak for those other markets but we have just completed work on our 4th Q 2006 Boston Condominium Market Research Report and I can tell you the Times is flat out wrong, the Boston Condominium Market has not collapsed. It is true that some condominium developers have asked us to perform feasibility studies regarding the potential reprogramming their condominium projects. There certianly are quite a few new condominium projects that are on hold pending improvement in the market. That developers and lenders are showing restraint can only help the market to reach equilibrium sooner than it otherwise would. Look for 2006 numbers from us soon. We will provide more definitive numbers within a few days, but I could not let such a gross misrepresentation of the current situation stand without correction.

I can't speak for those other markets but we have just completed work on our 4th Q 2006 Boston Condominium Market Research Report and I can tell you the Times is flat out wrong, the Boston Condominium Market has not collapsed.

It is true that some condominium developers have asked us to perform feasibility studies regarding the potential reprogramming their condominium projects. There certianly are quite a few new condominium projects that are on hold pending improvement in the market. That developers and lenders are showing restraint can only help the market to reach equilibrium sooner than it otherwise would.

Look for 2006 numbers from us soon. We will provide more definitive numbers within a few days, but I could not let such a gross misrepresentation of the current situation stand without correction.