please explain why, page-41

thanks, thats most interesting, but l would have to expect a drop in the European assets as they have also fallen some 30% in the REIT sector and the Aust market will likely follow to some extent.
however most of that is factored in, the question being how long the tight credit conditions will continue.
difficult to fund dist if they cant come up with the cash, but l would say that conditions will stabilize in a few months but there wont be a big rebound like some would hope - likely a 2 -3 year hold, hence the risk premium.
l think the low of 51 cents will be tested and good buying at that level