Is it a bear market or a bull market

[Al Anderson]

Attended the SWFL REIA (Southwest Florida Real Estate Investment Association) this morning. Rick Shaffner, who is one of the most diligent and analytical numbers guys I have ever met, went over the Cape Coral/Fort Myers lots mark. My takeaway was: while the lot market has cooled from the high of the two-year inflated COVID market, it is pretty much the same as previous years.

He pointed out that many of the guys predicting gloom and despair of a bear market have no discernable record of real estate investing.

I respect Rick and his analysis a lot. However, I believe one of the predictors of real estate market conditions is the RIET (Real Estate Investment Trust) market. And the RIET market in every sector is down from the first of the year: Office RIETs, Multi-Family RIETs, Residential RIETs, and Commercial Real Estate REITs.

Having said all that, I do not try to time the market; primarily because I’m not that smart. I analyze a deal. If it looks like a deal, I try to buy it. End of story.