A message from NAI Global President & CEO Jeffrey M. Finn
When the USA credit market buckled in August of 2007 it was difficult to foresee just how far and wide the ripples would be felt. But now, one year later, it is clear that the ripple would touch the world. Even the most buoyant markets have not been immune to the great credit strike of 2008.
While the construction lending spigot has shut off and the terms for investment grade debt have become much more expensive in the Western world, the emerging East is beginning to feel the pinch. Even the booming BRIC countries are starting to slow due to the combined reduction in Western demand and the higher cost of capital. But with the cycle opportunities are created. To seize this unique moment, billions are now being amassed in funds ready to pounce once the perceived bottom has been reached.
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