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Realistbear

Standard Life: Value Of Property Down 6.7%

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http://thescotsman.scotsman.com/business.cfm?id=1065992007

Standard Life cuts value of commercial property funds by 6.7%
NICK BEVENS
THOUSANDS of Standard Life investors will see the value of their investment drop by some 6.7 per cent after the company reduced the estimated value of five of its key property funds this weekend, amid signs of a deteriorating outlook for the commercial property sector.
Standard alerted IFAs of the cut in value in the bricks and mortar funds, which have a combined value of around £4.5 billion, after a rush of investors cashed in their investments and pulled out.
It is believed to be the first major investment house to give such a serious warning about price falls in the £700 billion sector
.

:o

A wise old buzzard I knew when living in California told me that the best indicator of a severe crash is commercial property. Great Crash 1 was kicked off by commercial property crashing. It leads houses down.

Edited by Realistbear

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