A growing number of observers reckon the real estate market is heading for a correction in 2016, but Joe Sitt and Don Peebles are having none of that.
Peebles, head of the Peebles Corporation, believes demand for apartments is stronger than people think. “There’s a lot of pre-construction sales, and those sales have not gone to record yet, ” he told Bloomberg.
Joe Sitt, of Thor Equities, is similarly optimistic about the U.S. commercial real estate market. “It’s actually, right now, utopia, ” Sitt said. “What do I mean by that? You’re still not peaking in terms of where the rents are as compared to where the prior peaks were.”
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Read the full story at The Real Deal, by Konrad Putzier
Listen to his reasoning in the video. [Bloomberg]
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