Tuesday, April 7, 2009

REIT HEADLINES WILL DETERIORATE

Obvious does not make you money in the short term! These macro economic headlines mean nothing to the daily market swings. However long term investors need to be aware of how dangerous our economic decline potential is. I will continue to attempt to trade SRS here...but small ball only.... I closed all of my position out at close ...so you know it is gonna zoooooom...

April 7 (Bloomberg) -- Manhattan office rents fell the most in at least 25 years in the first quarter as financial companies slashed jobs and relinquished space in the U.S. recession.
Rents dropped 6 percent from the fourth quarter to $65.01 a square foot, commercial property broker Cushman & Wakefield Inc. said in a report today. The decline is the most in records dating back to 1984, Cushman said, and shows how much the fallout from the September bankruptcy of Lehman Brothers Holdings Inc. hurt the New York property market.
“It’s gone beyond the financial firms,” Joseph Harbert, Cushman & Wakefield’s chief operating officer for the New York region, said in a telephone interview. “It’s broad across a lot of industries. Everybody has the same way of thinking, which is low confidence in job growth, consolidation, cutting expenses, not hiring unless you really have to.”

3 comments:

  1. I think you might be on to something you old goat......hehehe

    ReplyDelete
  2. Hey cos....they didnt get me today almost got back to what they took from me the previous 2 days......hehehheh

    ReplyDelete
  3. hi kli,

    do u have an srs upside target during april-may?

    thanks

    ReplyDelete