A look back: Some highlights from 2015
The past year was one of highs and lows. Reflecting on 2015, let’s take a look at some of the highlights from a year’s worth of editorials.
• “Of course, most of us do tend to look at the past — the most recent past. And, for the most part, we tend to assume the future will be much the same as the present and recent past. The problem is, we often fail to look back far enough, and we end up applying the right lessons in the wrong order, something I have noted in this column many times before. Is real estate overpriced right now, particularly core real estate? Probably not, at least when considered in light of relative yield in comparison to yields in the fixed-income markets, the equities markets or other alternatives. In fact, you could argue that spreads are historically wider than ever. What this means to me is a market correction — at least in the real estate markets — isn’t likely to be coming any time soon. What could disrupt the markets this time around