I love me some data and infographics! This is interesting from J Burns

[Chris Seveney]

John Burns, who is one of the most reputable sources for real estate data has a daily fear and greed index (love the name)

Here are a few things that stuck out to me and I agree as we are seeing this ourselves:

1. MF asset value is down 12% YoY and office is down 25%. So those saying prices are increasing, it must be their specific market for these types of assets as nationally this is not the case.

2. Office and MF will continue to slide in 2024 (time will tell)

3. Investors in Q4 of last year changed from either increasing or decreasing exposure to a wait and see, which makes sense as they are waiting to see what the Fed does. What this tells me is "uncertainty is the enemy"

4. Access to capital is significantly harder to get. -- For me, if you ask any legitimate operator out there, if they tell you they have money falling from the sky, that would be shocking. There are a lot of GP's looking for money right now and its just not there. I have not heard a GP over the last six months say they sold out or oversubscribed their offering faster than anticipated. 

Link Below:

Fear-and-Greed-Index_Chartbook_2024-02 (2).pdf (dropbox.com)

[Chris Seveney]

Quote from @Carlos Ptriawan:

i started getting more bizarre updates Chris, like some GP running away or they totally shutdown, the suicide of ground devs. , the bankruptcy after  cross collateralization ; ponzi scheme lawsuit is the new normal these days. SEC and receivership company is also busy these days haha LOL not too mention forensic accounting. Investor want to shutdown crowdfund company, etc,etc..

Watch for the next edition of "the Greed of Real estate" in Netflix LOL

What happened inside therealdeal should just stay there... lol

 I just recorded a podcast today basically about how this is not shocking. I know it is to a lot of investors but if you have been around for a while, it really is not. I am not trying to say I am some guru who can see the future, but i have been vocal about this for some time now on BP. Its really simple, uneducated and unsophisticated people doing something that they do not know... Same exact thing happened in real estate development in mid to late 2000's because of the "easy" money. Difference this time around was the mezzanine piece of equity 20 years ago was debt financing and today it is investor equity.