In about 100 stump speeches, I have explained how the last housing crisis inspired me to create the Hispanic Wealth Project and the NAHREP 10. I witnessed first-hand the loss of businesses and homes from hundreds of friends and colleagues. It was a devastating time for many of us. In my speech, I discuss coming to the realization that NAHREP had to be about more than how to close deals, it had to be about something deeper and more permanent. The NAHREP 10 is a set of principles that define what I believe it means to be a NAHREP member. At the top of the list is acquiring a mature understanding of wealth and prosperity. The real estate business attracts people who have an optimistic view and want more than a modest existence. That optimism frequently gives them a sense that when things are good financially, they will always be good. This is a positive quality. However, it’s not realistic. We work in a cyclical business. There are up cycles, and there are down cycles. Business has been good for a long time and we are due for a dip, the indicators are there. Interest rates are on the rise and affordability is flirting with all-time lows. It may be time to take a good look at your finances. What are your fixed expenses? Are you in debt? If you are self-employed or a commission earner, my advice is to start getting lean and be prepared for a substantial decline in your disposable income. If you can live on half of what you are making now, you will probably be fine. Like always, not everyone will make it through the next downturn; make sure you are one that does.