Posted by Richard Haut on October 05, 2002 at 16:48:34:
In Reply to: Re: Plenty of Time. posted by Paul Malo on October 05, 2002 at 16:23:06:
the state of the markets hardly indicate massive rental incomes - and indeed the possibility of a grim time. However I do not know the intricacies of Manhattan property prices.
However, what I do know is that markets thrive on optimism - and certainly in Britain Tony Blair is talking the UK into a very fast recession.
Why do I get the feeling that everything that we are seeing now is because the long slide to hard times has actually begun ? If that is the case the authorities will want developers and tenants in place as fast as possible.
From what even someone on the sidelines of such a world like myself knows is that some of the major US and UK financial institutions will not settle into a recession but turn turtle and sink rapidly (as happened to some Japanese banks) because of the dodgy way that they have been emptying their own coffers. It could be a cold winter - and a war will do far more harm than good.
The idea of a developer-WTC which proves hard to let would be a very sad memorial.
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