> the yield metrics became challenged. We recently made the decision, based on considered assessment of capital allocation options, to dispose of the site.
So because the yield is dropping they are selling the site without developing it. They’ve had planning permission since 2019.
Basically all the people who claimed developers would build enough supply to drop prices, this disproves it. A developer isn’t building homes because the yield is falling.
Somehow, somewhere.. the NIMBYs are gathering.
IRES REIT business model is fucking brilliant on the way up. I think it’s gonna be ugly on the way down. Why can’t we just have a boring stable housing market?
3 comments
> the yield metrics became challenged. We recently made the decision, based on considered assessment of capital allocation options, to dispose of the site.
So because the yield is dropping they are selling the site without developing it. They’ve had planning permission since 2019.
Basically all the people who claimed developers would build enough supply to drop prices, this disproves it. A developer isn’t building homes because the yield is falling.
Somehow, somewhere.. the NIMBYs are gathering.
IRES REIT business model is fucking brilliant on the way up. I think it’s gonna be ugly on the way down. Why can’t we just have a boring stable housing market?