𝐂𝐡𝐞𝐚𝐩 𝐝𝐞𝐛𝐭 𝐡𝐢𝐝 𝐚 𝐥𝐨𝐭 𝐨𝐟 𝐛𝐚𝐝 𝐝𝐞𝐚𝐥𝐬. 𝐍𝐨𝐭 𝐚𝐧𝐲𝐦𝐨𝐫𝐞! Wells Fargo just foreclosed on an Atlanta portfolio for 𝐡𝐚𝐥𝐟 𝐢𝐭𝐬 𝟐𝟎𝟐𝟏 𝐩𝐫𝐢𝐜𝐞. Why? Simple math: Cap rates must rise, or interest rates must fall—or both—before all that sidelined capital jumps back in. For now, the reckoning continues. Deals that made sense at 4% rates don’t work at 6%-7%. And lenders aren’t in the business of owning real estate for the long term—you can only “Extend and Pretend” for so long. Expect more of this. The real buying opportunities? Still ahead. https://lnkd.in/ePpqsN5d