Wednesday, December 17, 2008

Interesting late day selloff in GGP...

I bought some SRS @ $57 at the close after seeing this stock action in General Growth Properties (GGP)


GGP is the second largest mall REIT in the U.S. (owns more than 200 malls) and is on the verge of bankruptcy anyday. When that day comes it will rock the CRE market to its core and send SRS flying higher. I am sure Zuckerman over at Boston Properties (BXP) will sh*t a brick when he sees GGP go under...just another nail in the coffin for real estate and investor confidence.

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