Gary E. West College of Business Professor Joseph L. Scarpaci was quoted in a recent Associated Press article featured on NYTimes.com. The article, published April 30, 2013, discusses the unusual real estate market that has emerged since Cuban President Raul Castro legalized the sale of private homes on the island. According to the article, while home sales between parties are now legal, the aid of a real estate agent is not, a limitation that is typical of Castro’s fledgling economic reforms, leaving entrepreneurs to find creative ways to provide services that are in demand.
Dr. Scarpaci, Associate Professor of Marketing at West Liberty University, was interviewed for the article as a result of his increasing profile as an expert on the Cuban economy and the impact of changing regulations on its markets. According to Scarpaci, “[Cuba is] a very, very young, imperfect market and it’s going to be very difficult as a result to get real supply and demand there.”
Access the full article at http://www.nytimes.com/aponline/2013/04/30/world/americas/ap-cb-cuba-real-estate.html?ref=americas.