REITS - Buying 1 - 2 weeks before going ex-dividend Message Board

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Strategies & Market Trends : REITS - Buying 1 - 2 weeks before going ex-dividend

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To: zebraspot who wrote (2101)	5/29/2001 5:34:25 PM
From: bill	Read Replies (2) of 2561

A short while ago I posted a message on one of these threads that while I was travelling around BC that many of the malls had empty space and space that was being obviously filled by non-paying tenants. When I checked, I discovered that the malls were renting out short term space at fire sale rates up to and including the Xmas season. Mall owners are notoriously hard-nosed when it comes to negotiating rents. For them to be renting large areas for a hundred and fifty dollars a week, they have to be desperate. Both high traffic and low traffic areas in some malls had empty spaces and even the prime high traffic spaces were going for a steep discount. We have a new govt. in BC that is business oriented and the general belief is that somehow the cause of the business malaise is local (the former govt.) and can be fixed locally. I'll be travelling across the country in a bit and will check out malls. Would be interesting to know the situation in other provinces. The other area that would be useful to know about is local commercial rentals in the light industrial parks. I think I'll drift through our local one and see how many rental signs are up. It may just be an over reaction but I remember 1987. I had people knocking on my door trying to buy my house even though it wasn't on the market, offering what were then astronomical prices. A month later there was no buyers. The flippers who got caught with 10 or 15 houses went bankrupt very fast and our local banks were offering mortgages at fifty cents on the dollar. People with ten percent down were walking into the bank and leaving the keys thinking that that absolved them of their mortgage payments on houses that were worth half of the mortgage. They got a shock when the bank unloaded the house for fifty on the dollar and then sued the owner for the other fifty percent. Hope I'm wrong but the poster who said real estate is the other shoe that is going to drop may be right. I'd sure like to hear the argument for him being wrong. I'd be happy to be convinced that real estate isn't going to tank.

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