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"Alex Ross is no property bull. The fund manager expects the commercial real estate market to flatline for at least three years, and he's less gung-ho about the City office sector than most property brokers.
"Yet even he thinks property stocks are due a year-end bounce, as investors start to shrug off Europe's sovereign debt problems.
"Yet even he thinks property stocks are due a year-end bounce, as investors start to shrug off Europe's sovereign debt problems.
"He says:
"The equity markets are pricing in a considerable amount of fear. I'm not saying I know more than anyone else, but my view is that Europe will muddle through. And if we don't get a banking crash and a credit crisis, then we won't see property values hit.
Of course, if we do get another credit crisis, then all bets are off."
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