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Received this great graph from LoopNet on office prices per square footage in Los Angeles area. Is denial about value starting to turn?
Let's hope so. The markets will never recover unless everyone is willing to take some sort of hit. Lenders need to loosen criteria, sellers need to be realistic about prices and everyone needs to realize that there will be no deal flow till the deals make sense.
We can no longer swing at the fences on deals. Slow and steady will win this race.
Click on the graph for more data: