Will Core Real Estate Returns Drive Capital Back to the Market?

The path of real estate values depends on the answer to this question:
"Are these returns enough to get core capital excited again?"

Pick your path...

"Hell no"
6.5% on the upside sounds terrible.

"Not yet"
Values need to fall more to motivate capital.

"Yes"
90%+ of real estate capital wants income.
This is a big step back to normality.

"Hell yes"
These returns are attractive and/or I can outperform those estimates.

[True or false? Recovery runs through core capital.]