Global slowdown is being played out in commodity space ...
Front of mind on parts of Europe ...
Cap values turning corner...
Comme ci ... comme ca ...
Not bad ... but below expectations ... may get revised down ...
Comme ci ... comme ca ...
Not bad ... but below expectations ... may get revised down ... 50bps still on cards!
Doesn't smack of continuing strength ...
Echoes of the mid 90's ... ???
Or something more severe ??? Time will tell!
A slowdown was always to be expected ...
Now it is front of mind ... so we should expect some volatility ...
When the cost of capital changes so does the REIT markets valuation of forward looking cashflows...
Again ... you can't look someone in the eye and tell them...
Your NAV is up when its not ... even if your portfolio is devoid of offices...
