I do not believe that 2020 is the year that the market changes for the worse. That said, I believe we all remember that liquidity is in the marketplace until it isn’t.

Innovation: At the January CREFC conference in Miami, I asked Industry Leader Panelists their thinking about “Technology”. Maybe it was a mistake ...

With all this talk about being “late in the cycle”; are you protecting your downside? IF you are protecting your downside, are you also taking measured growth bets in some structured relative sized manner?

Multifamily – Sector affordability is a concern. While rent growth and rising property values have position connotations, these trends are not sustainable.

2018 was a productive year. I hope that your 2018 was a good one; one full of health, happiness and prosperity. My format from October, though brief and written more in the form of “Soundbites” rather than “deep content”, seemed to go over well. As the feedback (thank you) was generally positive (easier and faster to read) I will follow the same format with this update.

Since my last blog in June, the year continues to be robust for most. With the sun and wind at our backs; transactions flourish. Hit ratios suffer given the competition everyone faces to find, capitalized, and recapitalize a deal; but everyone seems to be prospering nonetheless.

The old saying “I would rather be lucky than smart”; how would we ever really know which of the two drove our individual fate professionally?

I just came back from the Spring ULI Council Meeting in Detroit. After Council Dinner I had a conversation with my oldest son about a class he is taking for his MBA. He was talking about “Red Ocean and Blue Ocean” businesses.