| For Stephen Blank, the current economy is akin to a Beatles song. ?I was looking for a theme, and it occurred to me: I kept hearing a line from 'Getting Better.' I got to admit it's getting better, getting better all the time.? As ULI's Senior Fellow of Finance, he'll be presenting this year's capital market findings at ULI on March 30. Seen here at a recent presentation, Stephen says we've reached an ?inflection point? in the capital markets where the markets could continue to improve—or hit another bump in the road. And there are certainly still some dark clouds on the horizon: compressed cap rates in core markets, a dysfunctional Congress, and anemic job growth are adding to uncertainty. And Stephen says refinancing ?is still the black hole of Calcutta,? with $1.5 trillion in debt maturing over the next couple of years. No truth to the rumor that he predicted a multifamily collapse after hearing "We all live in a yellow submarine." |
ECONOMY LIKE THE BEATLES
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