'At some point, lenders are going to look out and say, "What are we doing? We have an opportunity to capture 60 percent of this market by reducing our loan rates by 50 basis points." When that happens, and my guess is it will be 12 to 24 months from now, these markets are going to explode, although probably not to the early-2007 levels. We will start to see similar velocities, and cap rates will stabilize, and they'll probably even start to fall a little bit, particularly in places where there is this upward pressure potential on rents.' --Raphael W. Bostic, University of Southern California's Lusk Center for Real Estate
