What, Us Worry?
Shlomo Chopp, a managing partner at Case Property Services, which provides workout advisory, agreed that attendees felt a significant correction is ahead, but said many employed a “man’s gotta eat” type attitude to justify continuing to close deals even though we may be in the midst of a new bubble.
“For the most part, the consensus was that the train will run off a cliff (with the steepness a matter of debate), but until it does why not enjoy the ride?” Mr. Chopp said. “While the rents being underwritten are certainly not as aggressive as those underwritten eight to 10 years ago, the concepts seem eerily similar to those that drove the bubble.”