What if Consumer Confidence/Spending declines further?
What if more workers lose their jobs and unemployment grows to 9% or higher?
What if commercial properties go into default and banks foreclose on these properties?
What if there are more foreclosures both residential and commercial in 2009 than there were in 2008?
What if Banks unilaterally decide that foreclosure is a better option than renegotiating their mortgages with property owners who are at risk of default?
What if banks decide that it is better to rent REOs than to sell them in the 2009 market?
What if real estate sales continue to decline through 2009 and fewer brokers/brokerages are able to continue in the business?
What if these large banks create their own in-house brokerages for residential and commercial real estate?
What if mortgage interest rates rise to 8% because of inflationary pressures brought about by Government and Federal Reserve actions to address the financial crisis?
What if commodity prices increase rapidly due to the combined effects of tight credit markets and inflation?
It is time to examine our business plans and make the appropriate adjustments for the immediate future in 2009 and initiate a risk management plan for years 2010 - 2012.
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