LookOutBelow, those are my sentiments. It doesn’t matter what screaming deal you get today. You just reset the comps and the market is still falling. I suppose there is a rock bottom price you could get for a unit below which no one will get another, but at this point I find it highly unlikely.
At 100 times rent I would say you are pretty much safe no matter what you get, but we are a long way from even being in that neighborhood. I can’t see any seller taking that kind of offer, yet.
