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This is Master's in Business with Barry Redholz on Bloomberg Radio.

This week on the podcast are returning champion for the sixth time.

My friend Jonathan Miller, he is founder and CEO of Miller Samuel, where he has been covering the real estate market for the better part of 40 years.

Not only is he an appraiser, he's pretty much been in every single pen house in Manhattan.

Some of the stories he tells I couldn't get him to coax out stories about David Bowie and other celebrities, but I've heard them all over beer and they're amazing.

There are few people more knowledgeable about what's going on in the state of real estate, why it got to where it is today, how it's changing, and what you should know about prices and supply in the near future.

Then Jonathan, he is just simply the go-to guy when it comes to residential real estate.

I found this conversation to be a lot of fun, and I think you will also, with no further ado, my conversation with Miller Samuels, Jonathan Miller.

Jonathan Miller, welcome to Bloomberg.

Oh, great to be here. I feel like I've been here before.

You are a returning champion. I think this is your fourth, fifth, something like that.

Every time there is tumult in the real estate market, my instinct is always to say, let's get Jonathan in here and talk about what's going on in the real estate world.

To talk about what's going on in real estate, before we get to that, for the people who might not have listened to the previous five conversations we've had, why don't we just delve a little bit into your background.

Starting with, you said you stumbled into appraising in real estate. Tell us what that means.

Well, actually, I moved to New York in the mid 80s, and because my parents had moved here, and my sister had moved here, and they're saying, this is incredible.

I grew up in the DC area, and was living in the Midwest.

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