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Non-Tech : Bank of America -- Ignore unavailable to you. Want to Upgrade?

To: Neil H who wrote (1924)	1/27/2010 11:55:02 AM
From: Keith Feral	Respond to of 4366

It's interesting to see the discussion about the impact of taxes from all the foreclosures, short sales and other distressed sales. <This is a very resilient place. We have very resilient people. There is nothing like the American spirit. There is nothing like American ingenuity anywhere on Planet Earth, and while I certainly believe that we are headed for a catastrophe and a crisis, I also believe that ultimately we are going to come out better.> I continue to remain confounded by the negativity surrounding CRE. Bankruptcies are leading the market away from a castostrophe and a crisis that was established 5 years ago when prices got too high. The bubble was the disaster, and the inability to understand the problem for the first couple years from 2007 to 2008 was a disaster. Now, the market is set up to efficiently unwind and reprice any real estate assets that are not performing. In housing, it is already beginning to witness YOY pricing improvements. There really isn't alot of data for CRE, other than the MIT index to measure pricing and demand. But, it showed a positive bounce in Q3, and will probably continue to improve as the economy shows growth for the next couple of years.