CRE Videos … Sternlicht and More
January 28, 2010
More videos…
First up, Barry Sternlicht on Bloomberg from Davos. Not much new except that they’re hot on residential land. This is understandable as housing stabilizes in a market that has seen little new development.
Second up is Greg Genovese, of Thompson National Properties, and Jordan Sadler, of Keybanc Capital Markets discussing FED impact on the commercial real estate market. Lots of back and forth between industry players on the bottom of the market.
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"we own some small businesses (which is the 2nd largest in the nation) and no one is lining up to give us capital". barry, shut up. now, the rest of it was fine. govt doesnt have any brains or balls. they come up with the stupidest shit ive ever seen and go with it. stupidity. and banks need to make money being banks, not investing for their own account with free money.
all this talk about CRE being the "next crash" is stupid. prices are off 20-40%!!!!! thats a fucking crash. just cause you dont have to sell doesnt mean youre property didnt lose value. it just means you havent lost your equity, yet. now, all this bs were about to watch hit the fan over a couple years isnt going to cause values to fall another 50%. but it will stop prices from fighting back up.
jordan, youre late to the party buddy. shoulda hit the follow ons last year. i refuse to believe that reits are the play when the market is about to bounce around the bottom for a couple years. if you want a 2% dividend buy a treasury. of course, the tickers he states may be fine. but bullish on reits, eh?
I’m with you. Back in October, I responded to an article out claiming that CRE won’t be the next shoe to drop (http://bit.ly/3JHVJY). I too don’t understand what it will take for people to come out of denial that the shoe already has dropped. Aside from prices, think about how the financing and underwriting landscape has changed since this time in 2007. There has been a 180 degree change!
The point is, remember all these names. Because when they finally come on TV and admit what they should be admitting now, then it’s time to jump in. Particularly if they show up on CNBC!