Cannes conversations

Was talking to an agent of long experience in the market. As in, quite senior. He said his company’s job back in 2006 and 2007 was to help clients buy buildings, so the role of agents was simply to make that happen. To help find the price that would unlock that property. When asked if those prices were reasonable, sensible or advisable, he said “that’s a different question. That’s not the question they were asking.” Thinks a bit. “Remember, acquisition guys were getting a commission on how much they spent…” Was that generally true, we wonder? Comments welcome.
With that in mind, now that prime seems set on dipping below 7 in CE and below 5 in the UK, what would be useful and interesting to know is exactly what kind of questions are being asked.
Also, just for the sake of argument, when interest rates go up (don’t forget, interests not only do sometimes go up, but they will go up) what will happen to yields? Anybody thinking about that?
If you just want to see more pictures, click here.

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