Comments by:
Patrick Halter
CEO
Principal Real Estate Investors
Des Moines
To paraphrase Clint Eastwood, are ya' feelin' lucky? The majority of respondents to last week's Feedback Poll seem to be, and it's a good thing, since risk in months to come will factor more into their investment plays, they say. No one's talking about a major correction here, but the dynamic is shifting, gently, and 59% reported that yes, in fact, their investments will be farther out on the risk scale than the have been to date. To make sense of the findings, we've asked commentator Halter to shed some light. . . .
"Real estate, relative to other asset classes, still offers relative value. We just need to be a lot more selective.
"That said, there definitely is a strong case to be made for investor caution going into 2007. Investor confidence has been very high and it's been emboldened by virtually all volatility being on the upside. With that sort of preconditioning, investors continue to drive the car forward by looking through the rearview mirror.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
