History has not dealt kindly with the aftermath of protracted periods of low risk premiums. -- Alan Greenspan
I think this pretty much summarizes what the real estate industry is in for in 08. It is payback time for all those novice investors who were out doing real estate as a side business and making millions (at least on paper).
Our jobs will be to clean up the mess and make a tidy profit while also making sure not to overestimate ourselves. The fall in the market will likely be deep and could extend for many years. We need to project our deals accordingly.
With the proper balance between aggressive buying and taper projections the coming years should be some of the best for NWJ/Signature.
Let's Make It Happen.
Nickolas W. Jekogian
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