A matrix reader passed along a mark-up of 2-2008 report by RREEF ResearchRREEF Alternative Investments is the global alternative investment management business of Deutsche Bank’s Asset Management division.

The mark-ups are quite compelling in contrast to the original document.

>Overview Mark-Up Summary: OUR BASE OUTLOOK STILL HOLDS. TIMING IS NOW THE
QUESTION, A DELAYED OR FEEBLE RECOVERY WILL PUT
OFF RECOVERY FOR DEMAND

Other points of interest:

>CONDO “REVERSIONS” TO
APARTMENTS ARE STILL A
SUPPLY CONCERN.

and

>THESE METROS
GENERALLY
OUTPERFORMED
IN OCCUPANCY
DETERIORATION
BUT MOST ARE HIT
WITH AS SHARP
OR SHARPER
RENT DECLINES
COMPARED TO
OTHERS.

and of course:

>THINGS THAT DID SEND THE
ECONOMY INTO RECESSION:
• HIGH OIL PRICES.
• INFLATION WORRIES DURING
FIRST HALF.
• MAJOR BANK FAILURES.
• PROTRACTED CREDIT CRUNCH.

Here’s the full “mark-up” document on their site. If the link breaks, try this one.