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Future land use trumps existing activity in establishing land values, over a long term horizon.

December 22, 2008

Analysis of:PREIT, Cafaro Lend Boscov's a Helping Hand | www.printthis.clickability.com

Yes, the viability of department stores is questionable, but the real estate is a prime platform to apply market driven future land use activites which can more efficiently bring 'traffic' to malls, and/or act as a catalyst for the re-development of malls. As such, there is value to the real estate. Let the department stores go bankrupt and convert the real estate to more efficient, market driven uses.

Fairness and Equity take precedence over the need for Speed and Action.

December 4, 2008

Analysis of:Landsource Seeks Quick Land Sale Process | www.bigbuilderonline.com

The article points to the need for a more streamlined process, but also the need to retain and reinforce STANDARDS OF CONDUCT and PROCESSES which are transparent, open to all, “rules of the game” are known and enforced, and accountability is present. Otherwise, the pitfalls of the absence of those standards and processes will only exacerbate a very bad situation.

"Bottom" of the housing market is not found solely at the relationship between income and house prices.

December 1, 2008

Analysis of:Consumer Search Trends Show Increased Interest in Real Estate by Potential Home Buyers | www.marketwatch.com

Income is an important element to the housing value equation, but not the sole determinant. Housing values are dynamic. Mortgage rates, the availability of that mortgage money, and the intangible of market psyche all play a collective and interactive role in establishing value. Product differentiation is another element overlooked in formulating the housing value equation. Will the present correction result in a return to "par" values, or will a vortex of deflation take value below "par"?

Ancient Agora and Central Place Theory meet Wal-Mart In Value Exchange

December 31, 2007

Analysis of:Wal-Mart Gets Discount on Land Purchase | chicagorealestatedaily.com

The article is relevant, but is not a template. Each situation is different in terms of demographic and market context. Similarities are found in modern large retail anchors as a continuation of historic human population activities, whereby populations and activities are aggregated to create a 'draw', a 'magnet', or more pointedly, 'a critical mass' sufficient for other activities to flourish. That private enterprise can assimilate those concepts to create modern agoras is classic capitalism and can be viewed as a value exchange between the developer and box retailer. The problem arises when the same concepts of extraction from developer by the big box retailer are applied to government in an effort to excise substantive monetary or other benefit from the public domain.

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