The Five Most Dangerous Words In Real Estate

What are the five most dangerous words in real estate? 'This time it's different'. ULI's mid-year real estate forecast cuts to the chase.

1 minute read

May 6, 2002, 5:00 AM PDT

By Chris Steins @planetizen


Although the U.S. economy appears to recovering from the mild recession, most sectors of real estate will continue to feel the pinch for the next 12 months, according to the Urban Land Institute's (ULI) mid-year Real Estate Forecast. With the exception of housing, real estate performance will likely lag behind the economy, the outlook says, cautioning that rising vacancies coupled with declines in commercial rents and property values have reduced profitability for many owners. Several ULI members provided industry insights for the report, which included a member survey. "This is a market dominated by players with a great deal of capital, short memories, long on hope, and with a strong belief that 'this time it is different' – the five most dangerous words in the English language," says Stanley L. Iezman, president and chief executive officer of American Realty Advisors in Glendale, Calif. ULI’s Real Estate Forecast is available in its entirety online at the link below. The 64-page report is divided into downloadable sections by property type.

Thanks to Chris Steins

Saturday, May 4, 2002 in Urban Land Institute

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Aerial view of town of Wailuku in Maui, Hawaii with mountains in background against cloudy sunset sky.

Maui's Vacation Rental Debate Turns Ugly

Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.

July 1, 2025 - Honolulu Civil Beat

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

July 2, 2025 - Diana Ionescu

White and purple sign for Slow Street in San Francisco, California with people crossing crosswalk.

San Francisco Suspends Traffic Calming Amidst Record Deaths

Citing “a challenging fiscal landscape,” the city will cease the program on the heels of 42 traffic deaths, including 24 pedestrians.

July 1, 2025 - KQED

Google street view image of strip mall in suburban Duncanville, Texas.

Adaptive Reuse Will Create Housing in a Suburban Texas Strip Mall

A developer is reimagining a strip mall property as a mixed-use complex with housing and retail.

July 6 - Parking Reform Network

Blue tarps covering tents set up by unhoused people along chain link fence on concrete sidewalk.

Study: Anti-Homelessness Laws Don’t Work

Research shows that punitive measures that criminalized unhoused people don’t help reduce homelessness.

July 6 - Next City

Aerial tram moving along cable in hilly area in Medellin, Colombia.

In U.S., Urban Gondolas Face Uphill Battle

Cities in Latin America and Europe have embraced aerial transitways — AKA gondolas — as sustainable, convenient urban transport, especially in tricky geographies. American cities have yet to catch up.

July 6 - InTransition Magazine