… at least this forum might get interesting again.
There are still too many terrible sponsors operating (on paper). I don’t think I’m the only one but there are many many groups that I thought would have gone under 2 years ago. Perhaps they will have wished they had but I cannot possibly imagine how those groups will get through this waive of distress. We’re not even talking about only 2021-2022 investments now, 2023-2024 investment in markets throughout Texas have declined 20-30% as well. Crazy to think it was just 12 months ago that there was activity in Texas at 4.5% cap rates.
50%+ declines are now a reality. Grab your popcorn.
