President, Chief Executive Officer & Director, Vector
Search every verified Howard Lorber interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Howard Lorber, chairman of Douglas Elliman and CEO of Vector Group, has continued to comment on the real estate market, frequently cautioning against using 2021 as a benchmark. In a September 2024 podcast, he stated that 2021 was "an outlier" and that comparing current market performance to that year gives a "misleading impression of decline." He noted that while some markets like New York have been slow, others are performing well, and he expressed optimism about New York City's long-term prospects, calling it a potential "number one second home market for the world." Lorber also discussed his philanthropic work, including supporting a Holocaust studies program at West Point and a scholarship fund for children of fallen first responders. Lorber has also spoken about his business philosophy and personal history. He described his approach to real estate brokerage as focusing on agents as customers, stating, "If you believe that, you should spend all your time with the brokers." He recounted his early career, including buying and selling companies like Nathan's Famous and Western Union, and shared an anecdote about driving his first Rolls-Royce to a McDonald's drive-thru. In a 2024 interview, he addressed rising antisemitism, saying that "the very light veil was lifted after October 7th" and that some schools have "allowed anti-Semitic voices under the guise of free speech."
“One of the good stories right now is how well we're doing in December. It's really going to be a very big month for us and you should be happy about that also us include you.”
“I'm a big believer in New York City. When I started spending more time in Florida, I asked a bunch of guys moving down there and not one of them sold their apartment or townhouse in the city, which means New York City will be the number one second home market for the world.”
“You really can't measure against 2021 because it was an unbelievable year. People want to use 2021 as a benchmark, but you have to look at 2016, 2017, 2018, 2019 for more realistic prices. That's why there is very little inventory today because sellers want prices like in 2021 and that's not happening with these intere...”
“I studied the Holocaust and knew it could happen, but the very light veil was lifted after October 7th. Anti-Semitism is pretty awful, maybe more awful than ever, and some schools have allowed anti-Semitic voices under the guise of free speech, which is ridiculous.”
“I believe that brokers are our customers, not the buyers and sellers. If you believe that, you should spend all your time with the brokers. I'm really good at taking a good broker and making them into a superstar.”
“A great brand name is very important. No matter how bad the management is, companies with great names survive. Nathan's Famous and Western Union are examples of great brands that survived despite lousy management.”
“We took control of Western Union, changed the management, and sold it in bankruptcy court for $1.3 billion. We owed $900 million but ended up with $400 million in a shell company that we then used to buy other companies like Douglas Elliman.”
“The first place I went in the Rolls-Royce was McDonald's drive-thru literally off the lot. I just thought it was cool to go to McDonald's in a Rolls-Royce, why not?”
“Silver Shield was started by George Steinbrenner to pay for four years of college education for children of police officers or firefighters killed in the line of duty. I took it over with a friend and continued it. It's been an ongoing thing.”
“West Point has a Holocaust studies program with about 150 cadets enrolled. I was asked to give a speech there and loved it. It's fantastic.”
“Rising rates have pressured the market, but realistically you can't use 2021 as a gauge for other years. I would say that our third quarter was probably the second-best quarter we've ever had in business — the only one that surpassed it was 2021.”
“Maybe we have an advantage because we're in the luxury markets, and those are better than low-end markets.”
“I've read in a lot of markets rents are coming down already. For sure in Florida and in New York the re-rents are still high — on the luxury rentals the high end are astronomical pricing; rents are in pretty good shape and maybe that's because people aren't buying as much as they did before, so they're renting and they...”
“I don't agree those (politics) were the number one factor. I think there are two close — one was taxes, no state taxes as opposed to New York — and number two is quality of life. People are moving down; I think crime is less here and they're worried about the crime in New York.”
“Having said all that, New York is not going away. Once they work a little bit more on the crime problem and get that down, I think [New York] will be the number-one second-home market to the world.”
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Howard Lorber, executive chairman of Douglas Elliman, joins CNBC's 'Squawk Box' to discuss New York's hot real estate market as mortgage rates rise. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan…
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Episode 9: World of Real Estate Featuring President and CEO of Vector Group and Chairman of Douglas Elliman Howard Lorber.
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