Both Realtor magazine and Business Week arrived at my office yesterday. Both had articles by economists. Both described the features of the current real estate downturn. In Business Week, the article seemed to sensationalize the downturn. What a shock. Many of the publications that cater to stock investors such as the Wall Street Journal and Forbes have maintained a consistently negative PR campaign going to dissuade their following to stay out of the real estate market. The article in Realtor magazine seemed to address the issue more honestly based on what I'm seeing in the market. It's basic premise, that the downturn is good for the consumer, is one I whole heartedly agree with. Knowing many seller's who are having problems unloading properties is difficult, but it's part of life.
All and all, real estate is no different than any other business: you need a good plan. The problem with many I see that are "stuck" in the market is a faulty exit plan.
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