Long Island's Boiling Hot Real Estate Market: When Will it Cool?
SEPTEMBER 20, 2002 --- With the Long Island region experiencing historically high values in its residential real-estate market, with that market experiencing hyper-activity fueled by historically low mortgage rates --- Vertical Lend (and its affiliated business unit, Mortgage Warehouse) of Melville, will be holding its "First Annual Economics Forecast Breakfast" at the Fox Hollow Inn (Jericho Turnpike just east of

the Seaford/Oyster Bay Expressway, a mile west of Round Swamp Road) on Thursday, September 26 from 8:00 AM-9:30 AM.

Approximately 75 Long Island business leaders are expected to attend this event, led by Vertical Lend's President, David Peskin. He will introduce guest speaker Dr. Frank E. Nothaft, the Chief Economist of the Federal Home Loan Mortgage Corporation (FREDDIE MAC). Dr. Nothaft will analyze the dynamics of the real-estate marketplace under way in the fourth quarter with an outlook on Year 2003.

Prior to being named Chief Economist in 2001, Dr. Nothaft served as Deputy Chief Economist for FREDDIE MAC since 1988. He was an economist with the Board of Governors of the Federal Reserve System during the 1980s and served as an assistant to Governor Henry C. Wallich.

He is a member of the American Real Estate and Urban Economics Association. Dr. Nothaft earned his Ph.D. in Economics from Columbia University and B.A. from New York University.

FREDDIE MAC is a stockholder-owned corporation established by Congress in 1970 to increase the supply of mortgage money in support of home ownership and rental housing. Over the years, FREDDIE MAC has helped to finance one in six American homes.