Commercial prices - ouch

[Chris Seveney]

For those who think it’s not going to get worse - here are two recent commercial transactions

Unfortunately this is just the start. I would also not be very optimistic for those in multi family - not expecting these types of discounts but cap rates have risen and market will catch up to that which will lead to significant decline in valuations

https://www.instagram.com/p/C2GDUs1ut4Y/?igsh=am16djV2bHhpZ2U1

https://www.bisnow.com/chicago/news/office/west-loop-office-near-willis-tower-sells-for-90-percent-discount-122316

[Ronald Rohde]

This problem is specific to office. Not even Class A nor Class C, its unique to Class B office. No one has been surprised who's been buying in the past 5 years. this was a high risk, high return asset class for everyone.