I love reading stuff like this a while after it happened. By doing it this way we can get a modestly accurate gauge their predictions based on what has already happened vs what they though would happen. This “Round Table” has been very accurate up to this point. It appears to be from early 2009. There is a great line there regarding what will happen to CRE in 2009, “Business will pick up in 2009. It has to. You can’t get lower than nothing”. Classic…
All agreed in January that 2009 was going to be “worse than 2008” and to this point it has. All were looking forward to 2010 as they though much of the current dislocation will have passed. This isn’t to say 2010 will be an easy year, but that the stronger players will begin to see the market ease for them as opposed to 2009’s mass oppression.
This is worth the read…
Disclosure (“none” means no position):