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NCREIF Predicts Correction as Stock Market Falters

CHICAGO-Before the Dow Jones finished its 512-point slide Thursday, NCREIF researchers said an investor ‘retreat’ is likely as fundamentals finally catch up with risk-takers in the first half of 2011.

By Robert Carr | Updated on August 06, 2011

CHICAGO-Hours before the Dow Jones Industrial stocks dropped by the biggest single-day loss since mid-recession 2008, the locally based National Council of Real Estate Investment Fiduciaries was already holding a discussion Thursday about a coming market correction. During the NCREIF second quarter Index Release Webinar, presenters with the council were saying that it’s likely that investors will retreat after the frothy first half of 2011, when the willingness to take risks got ahead of lackluster fundamentals.

At the market close Thursday, the Dow Jones Industrial average was at 11,383, having fallen by 512.76 points, or 4.3%. Stock gains made so far this year have been just about wiped out in the past two weeks, as economic experts say investors have embarked on a selling spree because of unease about the US debt crisis, further potential bailouts needed in Europe and an expected flat jobs report this morning by the Labor Department.

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