announcement: great story: where are the holes, page-4

PViews you said: What am I missing?

I've been a supporter of REITS...but something isn't stacking up. There is a big difference between the new cap rates and therefore modest asset devaluations and the actual losses where property has been sold.

Broadly speaking, asset writedowns hav been of the order of 10%....yet reported asset sales by IIF and BEC to name but two would suggest the actual asset writedowns should be closer to 25 to 30%.

I fear that managers are not been entirely honest given that the half yearlies really don't require full auditor acceptance.

Plus, I really worry at the number of REITS who are stating that they are hell bent on asset sales. Who is going to buy if one of the greatest sources of acquisitions in the past were the REITS themselves.

Yeah...I'm beginning to think we retail investors are the chumps here.