Quote Originally Posted by psychic View Post
Sage advice there Mondo. But I'm thinking the thing is way oversold, at a ridiculous discount to NAV (leaky buildings priced in after all this time surely? ), resales exceeding valuations, high occupancy rates, beaut forward build program and at a terrific p/e. What could go wrong...
It probably is oversold, but at present it looks like it could continue to be oversold (or even more so) for a while yet so I wouldn't rush to buy. I expect the leaky building issues are priced in unless they go over budget on repairs or find more, which is always possible. Also probably some of the market uncertainty is weighing on them a little (as it is with most of the sector) so I wouldn't actually expect that downtrend to perk up again until we see some more signs of life in the overall real estate market.