Equity Residential Q4 2008 Earnings Call Transcript — Seeking Alpha
The first nine months of the year really carried the day for us and the fourth quarter saw a dramatic fall off of pricing power. We are clearly experiencing one of the worst economic climates in anyone’s memory. According to some, unemployment could climb as high as nine to 10%. These would be levels we have not seen since the late ’70s or early ’80s.
That perspective from one of the most well respected multifamily REIT’s in the country. I can’t help but to feel that there is a major ping happening in our space. Having worked at EQR for nearly ten years, I have the confidence that leadership is doing everything possible to weather the storm.
I can’t help but to be optimistic in the sense that we have an opportunity to pick up a serious education during this catasrophic hiccup. You can’t buy this kind of experience at even the most prestigious of instituions. Those of us that look at each and every nuance of the business, especially in this climate, will be positioned to take advantge of an insanely great upturn that is sure to come.
Your looking forward to the next eighteen to twenty-four months optimist,
M
0 Responses
Mike, I really appreciate your posts and your past experience. This is an unprecedented time, May We All Learn as e Go, And I Am Really Glad I know Mike Brewer, Your are The Best!
E,
Thank you for the very kind words. I feel as much about coming across your path and the fantastic experience you and your team have created at Urbane. Also, thank you for taking the time.
Have a great night with that bride of yours.
M
Thanks for the great post