Pleading for Rational Thinking in Real Estate

As the real estate market and stock market both continue to struggle horrendously, local REITs like Maguire Properties are particularly hard hit.
But the company's founder has issued an open letter to sharholders of the company he once led pleading for more rational thinking. He makes some good points in his letter, including:

• The company's total current market capitalization of around $200 million could be realized by selling just one of its more expensive properties.
  
• "Los Angeles County is now viewed by major real estate investors as the best in the country with the decline in the Manhattan market."

Interesting food for thought, Mr. Maguire, as we all wonder where things are headed and whether or not we are yet at the bottom.

To read Maguire's entire letter, CLICK HERE.