RE still moving up. Liquidity inflates the value of RE. Those that own hard assets can ride inflation up by raising rent. Deflation pummels the value of RE. NAV tells the story as to where in this predictable cycle we are.
MAC [regional shopping malls] occupany is UP as announced today quarter over quarter and rents UP on new leases. Rent and occupancy UP at MAC in US shopping malls, does that say we are now past bottom of RE cycle?
RTU's NAV = $10.27 : MKT = $8.44 which makes for a healthy discount and a 8.5% yield at MKT.