Why Dwek is Relevant

I'm less interested in Dwek's alledged wrongdoing than I am about what the wrongdoing might mean for the real estate market both locally and nationally. From the bubble perspective, I can't help but think that Dwek is probably only one of hundreds of big-money type "investors" that had access to easy money (obtained fraudulently and legally) and, at the same time, little regard for fundamental analysis as to whether a property was a good investment or not. It seems that Dwek's access to easy money allowed him to buy properties with little regard as to whether the properties were capable of actually turning a profit. If this situation was repeated hundreds or thousands of times across the country by different individuals, then property prices are going to have another source of downward pressure.

Here is a portion of a good article from the Atlanticville.

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Reports of Dwek's legal and financial troubles could have their repercussions in the real estate market as a whole, Brothers pointed out.

"This is a lose-lose for everybody, a very bad thing for not only the commercial market, but the market in general," Brothers said. "It creates a mind-set where people say, things are all bad. It establishes a posture for people that is more difficult to negotiate with," he said.

With downward pressure building on the market and prices and demand softening, the effect of Dwek's downfall will be far-reaching he said.

"If he ends up losing properties, people will be hurt. Unfortunately, a lot of people are going to suffer," Brothers concluded.

Among Dwek's holdings in Ocean Township are the empty Worden-Hoidel Funeral Home at 236 Monmouth Road and 3-acre tract at 259 Monmouth Road.

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