http://immobilienblasen.blogspot.com/2007/...numbers-on.html

i don´t know how this compares to london.

but ny/us seems to have reached a new level........

The author is short reits...funny that.

i know. the timing is not "perfect".... and it hurts :-)

Over the long-term REITs (real estate investment trusts) have actually outperformed stocks. Investors appear to have caught on to this fact and have bid up REITs to new all-time highs. While today's chart illustrates that REITs are well within a long-term uptrend, REITs are currently testing resistance (red line) of a long-term trend channel. Stay tuned



http://immobilienblasen.blogspot.com/

still happy with my shortposition... :-)

http://immobilienblasen.blogspot.com/

the first cracks are emerging.....

A Warning on Risk in Commercial Mortgages
http://immobilienblasen.blogspot.com/2007/...-mortgages.html

Though rents continued to rise in the first quarter of this year, the average vacancy rate for 58 metropolitan markets across the country rose to 12.6 percent.....

But many of the loans issued recently could result in problems down the road, the bond analysts said. As was the case in the overheated residential mortgage market, many loans for commercial transactions are interest-only for the first 10 years, with huge balloon payments at the end of the term. The agencies say lenders are not requiring landlords to set aside adequate reserves to cover taxes, insurance and other costs if things go wrong and are accepting projections for rent growth that may be too optimistic......

Space in Manhattan that was leased a while back for an annual rent of $40 a square foot may reasonably be said to be worth $70 a square foot in today’s market, said Mr. Duca at Moody’s Investors Service. But he said some lenders were now claiming that space that was recently leased for $70 a square foot was actually worth $90 a square foot. “That’s how aggressive it is now,” he said. “We’re saying the lending environment doesn’t make any sense.”


http://immobilienblasen.blogspot.com/

still short the reits....

http://www.chartoftheday.com/

Overall, the US real estate market has been struggling and investors are concerned. For some perspective, today's chart illustrates the current trend of the Dow Jones Wilshire REIT Index. While REITs have been trending up for several years, REITs are down over 14% since reaching their peak in early February of this year.



still short the index

http://immobilienblasen.blogspot.com/