So here we are 14, 15 months into this “real estate”based economic crisis and what have we learned? The idea that everyone should own a home or anyone can be a developer or how bout this one; lets buy an investment property based on a cap rate based on demand from buyers (whose ancestors were probably on board the Titanic which would NEVER sink) who were trying to keep up with the Jone’s.
Now if that sounds like your life then this is not a place for you to follow. If however you loathe that kind of behavior then join me in removing the stain on commercial real estate.
Not everyone should own a home or understands the riskS (yes that’s a capital S) of development or the basic principles of real estate values. We are learning the lesson the hard way. Next time on your way home from church and you’re doing the ride in the country thing note the number of improved vacant residential subdivisions and then look across the street from there and see the half completed retail center that was going to provide the amenities for those folks; you know, dry cleaner, sub shop, conveniance store and of course one of the main staples; nail salon.
Would it have gotten from the Ralph Kramden idea stage to the half built stage if there was no money to fund it? Stay tuned folks.