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Kanjorski: Real estate key to recovery

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

WASHINGTON, D.C. -- U.S. Rep. Paul Kanjorski said he used to be considered the "gloom and doom guy" on the House Financial Services Committee for opining about worst-case economic scenarios. Now, given the dramatic turn of events that has led to what the Pennsylvania Democrat describes as "the most important storm that's come our way in three quarters of a century," he quipped, "I'm no longer thought of as a gloom-and-doom man but as a prophet." Speaking to an audience of real estate journalists visiting the Capitol on Friday, he said has changed his tune from doomsayer to optimist, hopeful that Republicans and Democrats will hop across the aisle and put aside political differences in order to "soothe the population and to stabilize the market." He added, "Until we get the real estate market adequately stabilized, I don't think we're able to say we're at recovery." U.S. Rep. Barney Frank, D-Mass., and U.S. Sen. Christopher...