TALF and Recession
Zell, Zuckerman Spar on Recession, TALF
Source: GlobeSt.com
"We've all had an enormous challenge over the last year," understated Sam Zell at a general session with Mort Zuckerman at NAREIT's REITWeek in the Waldorf-Astoria hotel.
In a panel discussion, real estate moguls Sam Zell and Mort Zuckerman talked about a range of issues from TALF to government intervention with Constance Moore, chairman of NAREIT, as the moderator.
Read the full article for more on what Zell and Zuckerman had to say about the future of the real estate industry, viability of REITs, and government involvement.
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The link is no longer available but by reading Marjean's post, I got a great feel for the article. Most of us have learned that there are four cycles within the real estate cycle. They are recovery, expansion, contraction/hyper-supply, and recession. Investors who understand the cycle are cautious during periods of significant growth and seek profitable opportunities in downward trending markets. The cycle is natural and eventually comes full circle. The length of time has varied between six years (1973-1979) and forty-eight years (1925-1973). To have the knowledge of the cycle is merely only part of what will make us successful managers and investors. Applying the knowledge properly allows for a greater number of opportunities for us all.
- Owen Ahearn | Flag this comment for review
This is a superb analysis of the "crisis" we are in. In reality it is part of the natural rebalancing we must go through periodically when there is unchecked growth in market sectors there needs to be a downswing or "survival of the fitest" mode of operation for a time to bring us back into balance. Fortunately for the real estate business everyone needs a place to live, work and play, giving us an edge on the coming and going of retail and other entities. It is up to those of us in real estate to advise our clients and operate ourselves with a cushion of liquidity and capital to carry us through the lean times. We can't lean on government to protect us, any more than the welfare state of old, unions, and some other misconception that one can force market improvements. In reality one must ride out the storm, or lean times, and the fittest will survive. Mother Nature has the right idea, and humans need to realize they aren't excempt from the reality of the concept!
- Marjean Pountain | Flag this comment for review