RE:RE:Reits catch a bid in the face of rising yeildsHey Este, thanks and nice to hear from you. Funny you should mention rates being ok here. I actually had includuded another couple of paragraphs pertaining to being in " comfortable enough" territory for rates. Due to my already long windedness (is that even a real word) I thought it best to put it on the chopping block. I think for the most part, the market was spoiled and still clinging to the toxic punch bowl. It is weaning off but like most other addictions it takes time. I think the mere fact that rates "appear" to have stopped going up would eventually work itself out. We are near to where long term average rates work, including reits, in fact if you look back reits had done well enough at these levels, albeit under different circumstances, which sort of laid the groundwork for that last post. All things being equal, Artis in particular and especially, has now endured the hardships, survived and is ready to strive, with or without cuts, that is the bonus here. Rate cuts become the gravy on steroids. I would liken it to a lesser maybe slightly intimidated boxer in over his head against a perceived favorite that takes a real good hit that may have even wobbled him, but he was still standing, and thinking, is that all you got? Point is, we've taken a good shot, we got wobbled ( more than once) but we still standin! And unless I miss my guess, there ain't a whole lot more hits coming our way that will topple us. I call that bottom.
DZ