Happy New Year - Think Positive

Well, here we go into another year!  As we all know 2007 was a bit difficult for the real estate community and everyone is trying to figure out when it will get better.  While the condo market was at its peak, economists, analysts, owners, buyers, and real estate professionals were all trying to figure out when it end.  Even though the market is cyclical we tend to forget that fact while blinded by the success and exciting new developments across the country. 

So the questions remains...will condos still be selling this year and will new condo developments continue to be built?  It can be assumed that 2008 will be another difficult year as even the most optimistic of economists expect things not to turn around until 2009.  But we should not be ready to throw in the towel just yet!  There are many ways for builders and developers of condos to survive the tough times.  The market has been down before and it will be down again.  All we need to do is hold on and weather the storm.  For those of us on the advertising and consulting side of the business it is important to diversify your business model and make efforts to support those in the building community.

We need not be pessimistic but optimistic and realistic while planning for the future.  Let's face it, in the world of urban development and new condos in major metropolitan areas - building will only continue to become higher density.  Urban sprawl can't go on forever and with the amenities of the true urban center - more people will BUY into condo living!  Picture all those futuristic movies where it's all vertical living.  Maybe it won't be just like that but it makes sense.  There is only so much developable land. 

Let's make 2008 a great year!