IN-DEPTH LOOK - LANDMINES IN REAL ESTATE - BLOOMBERG
An select of discourse with Barry Sternlicht, CEO of Starwood Capital Group discussing the individual in actual realty deals and his looking for the actual realty in general. (Bloomberg News)
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Can someone spare a tent?
The real land mine in real estate is that it is all about speculation in land values which can and periodically do collapse because they have nothing to do with the real productivity possible on land. The real estate game masquerades as part of the “real” economy and in so far as it is about building and providing needed capital improvements to land it is. But in so far as real estate is about encouraging and cashing in on the speculative rise in value of land it is a parasite’s game.