Instead of predicting the next Great Depression, I am finally listening to some of the smartest real estate and business leaders who agree that the best time to go into business and make investments is in the worst bear market. A developer of residential and commercial properties in the region, who prefers to remain anonymous, said: “When everyone thinks the world is coming to the end, this is the time you want to be a buyer.” Gregg Winter, the president of W Financial, said, “Perception trumps reality, and then can soon become the new reality. Even now, before a certifiable bottom can be marked, some real estate players will decide to shake off their ‘downer fatigue’ and start trying to deploy some of their long sidelined capital. Brutal contraction will give way to sustainable recovery.”
By Michael Stoler, February, 27, 2009, The Real Deal

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