Sale prices measured

Sale prices measured in price per unit, price per square foot, capitalization rates and gross rent multipliers are continuing to set records caused by the lowest lending rates seen since 1958 coupled with the massive amount of equity chasing multi-family real estate in Southern California. While I believe that apartment investments in Southern California remain a solid bet over the long term, the market is working against the fundamentals we use to identify a property to purchase and thusly we have nothing under contract. I continue my daily review of every new deal but as long as the euphoric nature of the current market continues, I will keep my pen in my pocket.