There have been changes made just recently in the wierd new...

There have been changes made just recently in the wierd new international accounting standards. The mark to market idea has been found unworkable after much bloodshed because in the crunch there was no real market to mark to, just a few "stink bids"here and there.

The new rule takes account of the longer term and an assets normalised value based on such things as earnings and time averages, or something similar. So CNP and CER will now not be required to take smash hits to the bottom line from such accounting rules, even though cash flow is keeping them, particularly CER, well above the survival plimsoll line.

Though there will be falls, valuations for non discretionary retail property should be more resilient than most, particularly in the USA, is my expectation.