If you build a building other than the immediate holiday you have when that building becomes ready for occupation, in today's market, it may take a number of years to become fully let.
And Gruber never explained that these were base rates and did not take into account the uplift for age, geography, occupation and whatever else the Department of Insurance would let Blue Cross and Tufts get away with.
But it doesn't take a particularly fervid imagination to come up with a scenario involving a long and costly occupationof Iraq accompanied by a prolonged rise in oil prices.