I believe newguy paid $115/SF, so I don’t think he’ll be crying at the courthouse steps anytime soon… hard to build for much less than that.
In any case, in a cyclic market, it’s the holding period that allows one to avoid having to time the exact bottom of the market. You may not time the exact bottom, but in 10 years, you’ll likely be made whole with a bit of extra change.
For most assets (i.e., stocks) market timing is a loser’s game: the market is better at incorporating information than you are. An exception may be real estate, where the long lag times may give the patient an edge.
