BFerbs

Multi-Housing guy.

[BFerbs @bferbscap]

@Civixplorer

[BFerbs @bferbscap]

@ycombinator @downloadaltx @SamadiRyan These guys have obviously never done a multifamily real estate deal. What a joke.

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@Jesse_Livermore @Citrini7 3M views. Are we now at the point where an article like this could crash the markets?

[BFerbs @bferbscap]

@StockPatternPro Thoughts now after behavior today?

[BFerbs @bferbscap]

@elonmusk Those of us with 3 kids or more should get a free Tesla.

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@Camp4 Will be very challenging to do at scale until the Boomers give up control of zoning boards.

[BFerbs @bferbscap]

@bobbyfijan 5.5%? Try 2.75% at peak.

[BFerbs @bferbscap]

@innoc_bystander Comps will catch up in ‘23. Lots of assets projected to be 20s aren’t even making debt service now and tough decisions will need to be made.

[BFerbs @bferbscap]

@innoc_bystander I have a deal in Denver that first offer in May was $96M. Deal fell apart, has been in contract twice since, no sale. Worth $76 - $78 now. Not selling now because we own at an incredible basis and still have good debt so not forced. Doesn’t change what the asset is worth

[BFerbs @bferbscap]

@innoc_bystander Yes probably 90% of institutional multifamily deals marketed didn’t trade in last 6 months due to bid/ask. Just because Sellers didn’t capitulate (yet), doesn’t mean the value hasn’t dropped precipitously, just Sellers haven’t accepted yet.

[BFerbs @bferbscap]

@innoc_bystander Asset values have already fallen steeply but have further to go. Majority of deals projected to be 20s won’t just fall to mid-teens. They’re falling to single digits or zeros. Forced selling is a certainty.

[BFerbs @bferbscap]

@EPBResearch Great thread. However, Places like San Diego and Seattle have had population growth over last two years, not outflows. Large price declines are more due to absurd price increases that were very temporary and unsustainable.

[BFerbs @bferbscap]

@curbpainters @GRDecter Multifamily is down about 25% already. May not fall a lot more (maybe another 5% - 10%) because of amount of global capital that now wants to own US multifamily. Other RE classes could go to 40%-50% easily.

[BFerbs @bferbscap]

@GRDecter Doesn’t mean the outlook for real estate investing is not good. Simply means the parabolic “bubble” valuations have come down. Will be plenty of good opportunities to invest at lower prices.

[BFerbs @bferbscap]

@EpsilonTheory Common denominator with all these Ponzi blowups (aside from being ponzis): companies printing coins out of thin air that are then used as collateral elsewhere. But they’re inherently worthless so no actual collateral exists.

[BFerbs @bferbscap]

@unusual_whales This was bull argument following Bear Stearns in 2008.

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@StockJabber This will affect $ROKU. Tricky subscriptions, near impossible to cancel, no CS.

[BFerbs @bferbscap]

@EvanLoeffler2 @abarrallen @DrewAustin I’m big believer in $ABNB but this post displays material misunderstanding of the multifamily sector and this “transformation” vs actual gaps $ABNB can fill

[BFerbs @bferbscap]

@businessinsider