Have we hit bottom, yet? If the U.S. Treasury had a dollar for every time its has been asked by the media – both traditional and online – and by every American in their homes, at water coolers in boardrooms, our deficit would all but have vanished. Okay, I exaggerate. Some experts say yes we have, with a frightening assuredness, other claim, no way, that doomsday is rapidly approaching.
I’d like to think we have hit bottom, and that real estate – its industry associations and Institutes, their REALTORS members, institutional and entrepreneurial investors, property managers, and of course, our elected officials, et al. – will be the driving force that leads us from this current stabilization to a recovery.
Why? Because that’s what American real estate does. It did it under the auspices of the Resolution Trust Company in the 1980’s, the Savings & Loan crisis in the 1980’s and 1990’s and now, in 2009, the real estate community will be called upon to lead the American economy to recovery. And, it will, yet again.
The industry, which has been sitting on the fence waiting to jump off, may soon take the leap into what promises to be one of the most lucrative opportunities of this decade – I’m referring to legal financial offerings, of course – and they are, distressed assets.
My suggestion: Be patriotic. Start doing your part to help American recover. Conduct due diligence. Find the best buys that make sense to you and your investment profile. If you don’t, rest assured our friends around the globe will.