Tuesday, June 16, 2009

Mike Kirby Of Green Street: "CRE Down 40%, To Drop More"

When REIT consultant Green Street Advisors talks, even the book pumpers listen. Bloomberg reports that Chairman and Director Of Research Mike Kirby, during his keynote address at the UCLA Economic and Real Estate Forecast Conference has noted that not only are CRE property prices down 35-40% already, but in fact have more room to drop. Zero Hedge will try to present any documentation as part of Kirby's speech if it become available, although at best it will merely confirm what every rational human being knows, and what the ML REIT research department dreads.
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