the australian comments on lpt valuations, page-6

A REIT's underlying worth is its true NTA. That NTA should represent the Value of the real estate less debt divided into the number of units.

Right now, the A-REIT market has suffered a 75% fall from peak to trough. Such falls represent a 35% fall in property values - the difference being gearing.

However, while property values have fallen and are lilely to fall further, they certainly havnt fallen 35%. My estimate is they have so far fallen (in this country) by 12-15%.

Through his numbers, this guy is suggesting that property prices will fall by over 60%. What ever you may think of the market place that is a big call to make. The truth is his opinion is no better tha anyone else.

Where was this guy back in 2007 stating the market will fall significantly in 2008/09?

I suspect he is just merely trying to get some media attention.