This past week, interest rates on mortgages broke past the 5% barrier, the highest in almost ten years. The stock market had its biggest two-day drop since the collapse in 2008, and the projected deficit for 2018 was adjusted upward to nearly $1 trillion. Additionally, gas prices are spiking and Ford announced major job cuts. Is this just a short-term adjustment or are we on the verge of an economic meltdown? I think only time will tell, but savvy investors are starting to prepare. My advice is to avoid long-term debt and make sure you have plenty of your assets in highly liquid securities. We are at the tail end of the longest period of growth in U.S. history and whether it’s this year or next, a significant slowdown is coming. You shouldn’t panic, but you don’t want to put yourself in a bad spot. Fortune Magazine had a good article on investing during a recession a couple of months ago. You can see it here.
When we invited Gary Vaynerchuk to NAHREP at L’ATTITUDE in 2021, I was mostly relying on input from others. Several members loved his content, but the little I saw online left me underwhelmed. However, I thoroughly enjoyed his presentation at our event, particularly his comments about toxic employees, which he says to dump with impunity.
Selling during a downturn required a more strategic approach, but the opportunities for growth and expansion are available to the savviest of companies. Here are some of the best ideas I’ve read about.
I remember with NAR, the National Association of REALTORS®, invited me to participate on a panel session on diversity at their national convention back in 2002. I had never been to an NAR convention, but had heard that they were huge with 20,000+ attendees.