The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: patron_anejo_por_favor who wrote (298974)	12/21/2010 8:13:34 AM
From: Micawber	Read Replies (4) of 306849

In my area of the world (Philadelphia 'burbs) the crash is by no means over. As a multifamily investor of some 20 years, I see this market continue to deteriorate. Transactions continue at a crawl, with the chasm between offer and ask too wide for any resolution. Extend and pretend on loans coming due is just delaying the inevitable. Someone earlier compared this time period to around 1993. IMO, this time is VERY different from that time period for several reasons, the most critical being that rents are flat or even slightly declining, and extend and pretend are causing cap rates to stay unrealistically low. Bring on the higher rates that will act to shake the trees and free up so many of these marginal assets. Otherwise, from a multifamily standpoint, we have lots of hurt ahead of us in this area of the world.

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