Pour one out for the real estate investment sales brokers. Right now, the gap between buyers' and sellers' perception of fair value has to be as large as it's been in 10-11 yrs. Brokers still hustling... but deal volume suffering.
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Replying to @moseskagan
Michael Girdley Retweeted Michael Girdley
Michael Girdley added,
Michael Girdley @mgirdleyFascinating phenomenon: Buyers think there is a fire-sale going on well before the sellers do. This happens not just in real estate but M&A, too. I wonder if the explanation is as simple as Loss Aversion (https://en.wikipedia.org/wiki/Loss_aversion …) in practice? https://twitter.com/moseskagan/status/1260559817275392001 …1 reply 0 retweets 4 likes
Replying to @mgirdley @moseskagan
Of course. It’s called price discovery during volatility!
5:56 PM - 13 May 2020
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