Like many of you who've been hanging around here for a while, I've loved the REI game when 1% and 2% properties could be found or quickly repositioned and achieved. But, man, these last 2 years have turned up nothing. I've also basically stopped looking and starting to sell the lowest ROE's to rebalance. With interest rates staying low, more and more new money spillover from other asset classes, there are so many folks out there with money and happy with a 3% CoC, because if you factor in equity, appreciation, etc, etc. Is this the new normal? I used to pride myself on being a cashflow savvy buyer, but I'm starting to think the market has fundamentally changed, especially with sites like BP creating so much investment energy and fuzzy math, or maybe that the post-crash days were a total anomaly and we're back to a normal I never knew. How are the folks here thinking about future REI?