Quote:
Originally Posted by Obadno
I’m not arguing I’m asking you to back up such a wild claim in this discussion
Kid
|
I don't think it's a wild claim when I'm saying historically when X happens you see X result and then following that statement with "I hope that's not the case this time". I'm sorry you're offended but you can't really argue with history
I get the feeling that you're excited thinking all these projects are going to happen and you feel like I'm walking up with a needle and popping your balloon. It's not personal, it's just the way the world works. Remember 2007 when Toll Brothers told everyone they were building a 400 some foot building at Central and Thomas? And when developers were throwing out all these ridiculously expensive and lavish buildings they were going to build? That's called the peak of the cycle and it's built mostly with wild ideas based on the past few years of solid growth. Those guys with the grandiose ideas can't find financing because the investors and banks are too smart, the ideas fade away, and the banks end up being right about the market.
Illuminate is advertising a month free on their website, just like I told you guys a year ago would happen... after the first round of leases start expiring you'll see these identical buildings all fighting each other to fill vacancies and they'll offer the moon. I'm not making outlandish claims, I'm telling you history + current events paint a picture of an apartment slowdown.
It's not doom and gloom and it's not pessimism, it's a firm understanding of the way the multi-family market works based on years of owning, managing, and even building apartment buildings.