I will always remember the bumper sticker I saw in May 1989 at my first Las Vegas International Council of Shopping Centers convention:
“Dear God, please let there by one more real estate boom and I promise not to “throw” (another word actually used….) it all away this time!
While this very quickly helped me understand the cyclical nature of my business, it was also a great lesson to learn early in my career that “what goes up, must come down”.
This classic saying that whatever goes up must come down proves itself true in virtually every application and in my opinion it certainly applies to economic cycles.
I have been blessed to be a commercial real estate broker on the Space Coast for almost 35 years and during that time have experienced four cycles and possibly beginning my fifth.
While “recession” data is somewhat subjective, here is my breakdown:
July 1990 to March 1991 – The Early 90’s Recession
March 2001 to November 2001 – The Early 2000’s Recession
December 2007 to June 2009 – The Great Recession
February 2020 to October 2020 – The Covid 19 Recession
Each recession listed above was caused or impacted by different events from the banking crisis to the gulf war and everything in between.
While the “experts” can debate whether we are actually in another recession, here are the facts as I see them:
- Our current inflation is not “transitory”
- Yes we are in a recession
- This will not be over tomorrow, next month or even next year
- Our economy needs a “reset” as prices of everything from construction materials to peanut butter are out of control
- This is not a time to be scared if you are prepared but instead a time of great opportunity
Just as you would in any form of competition, one must always work to try and understand the “environment” and “circumstances” that they will be working in so you can then put together a strategy or plan or how to be victorious and successful.
As you think about your commercial real estate needs moving forward, whether you are an occupier, owner or investor, please reach out to me as a “resource” and allow my 35 years of thriving through all environments help you maximize the “opportunity” before us.
Please feel free to call me at 321-863-3228, email me at Brian@TeamLBR.com
Merry Christmas, Happy Holidays and Happy New Year to you all!
