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RealShare EXCLUSIVE: Industry Needs to Remember Real Estate is Long-Term Asset

NEW YORK CITY-Despite some thought to the contrary, Dean Adler of Lubert-Adler does not believe we are seeing a new paradigm in the real estate market, and warns that the industry needs to be aware that everything is cyclical.

By Melissa Kress | Updated on November 30, 2005

(To read more on the debt and equity markets, click here.)

NEW YORK CITY-Right now the real estate cycle is hot; prices, values and returns are escalating; and liquidity is unprecedented, with the industry targeting $200 billion in sales for 2005. This is according to Dean Adler, co-founder and principal at Lubert-Adler, who was the keynote speaker at the second annual RealShare Structured Finance this morning.

Adler told the audience of approximately 200 that real estate has become an accepted asset class, it still remains a bargain and with greater liquidity comes less risk; however, all three factors go together: both up and down. “When capital steps in, prices rise and returns soar,” he explained. “But when there is too much money, too many parties and poor underwriting, everything suffers.”

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