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- RE King tacitly admits that the value associated with richly valued property @4C and @5C cannot be enjoyed at the face value unless it is recycled in an another deal. It remains notional and cannot be fully enjoyed for legal consumption or legal acquisition of an another asset. Pity! Point I have been stressing for too long a time in this forum.
In short, the currency of RE in such deals are tainted. And to hope that somebody will pay the tainted money value in white is delusional and unrealistic. It is quoted at 4C because of the funny cash attached to it. RE King assumes that is the real value of the property. Oh my....
RE King kind of validates the point I have been saying in the Busting RE Myths thread - CAGR of RE end return is phony. Like illicit drug lords paying twice as much for a Miami property if you accept the suitcase with cash. To expect the same deal in white and if Miami property seller waits for such a buyer - will that materialize?CommentQuote0Flag