I think Thor makes a very valid point. I too have been waiting for a long time for the SP to improve since the initial BFS which caused it to tank because of the confusion it caused. I agree that EQR should have waited until they had cash in the bank to fund this. No one knows where the world is going to be in 18 months time but with China in a deflationary mode my money is not on expansion at the moment.. And looking that the way the market is reacting they may have very well put a cap on the SP for some time now.
I think Thor makes a very valid point. I too have been waiting...
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