As we ready ourselves for attending the NIC Conference, it should be interesting from a sentiment perspective.
Good morning San Diego! For those of you attending the NIC Conference I hope to be able to chat a little with you, maybe later tonight or Thursday night. You know where to find me. This will be an interesting conference from a sentiment perspective. Are people still on a high from some of the record pricing in the acquisition market of the past few years? Or will we be seeing continued caution from those worried about occupancy, labor, rising interest rates and the new community openings this year? The party is definitely not over, but if you were to balance out the positives with the negatives today, I would err on caution in today’s environment. Yes, I have been accused of being Mr. Doom and Gloom, but I like to think I am more of a realist with no rose-tinted glasses clouding my vision. A cataract making it more difficult to see? Yes. But it is not clouding my longer term vision in terms of the current risks that can impact returns and pricing. The operative word going forward may be “cushion.” See you later tonight.