Posted on September 14th by Leonard Steinberg

Fed. chief Ben Bernanke delivered some great news for the financial markets and especially real estate land: he plans on keeping interest rate low ‘well into 2015’:  That bodes especially well for New York real estate buyers who currently confronted with ultra-limited inventory of existing apartments will feel safer buying into the new slew of new construction buildings (150 Charles Street, 560 West 24th Street, 7 Harrison Street, 71 Laight Street, 1107 Broadway, etc) that will only be deliverable 12-24 months from now. The effects of these comments on the stock market did not hurt either….

Much of this promise will depend on whether Bernanke is still the Fed chief in 2015….Of course, Bernanke could always serve a third term as Fed chairman. But there are two problems with that. First, he’d have to be offered the job, something Republican presidential nominee Mitt Romney has vowed not to do. Its also not clear if Bernanke would even take the job. He has not commented on the matter publicly, but acquaintances speculate that he wouldn’t.