A client of mine asks, “Hi Bruce, what are your thoughts on real estate and the economy over the next 12-24 months?”
Here’s what I answered:
No one really knows what will happen, but in my view, there will be many opportunities for people with cash. I suspect several trillion dollars of real estate in the US and Canada will trade at a significant discount to FMV (fair market value) circa 2019.
Here is a list of sectors that will be hardest hit, in my opinion… from least impacted (0) to most affected (10):
Residential real estate—single family homes, townhomes, low rise (2)
Highrise residential (4)
Office space (6)
Retail space (8)
Travel and tourism (9)
Having said this, there will be opportunities—to, for example, convert hotels to medium and longterm rental of microsuites or repurpose office buildings and malls for mixed use where people will be able to live in affordable, live-work-play, create-make-learn-grow, entertain-shop, exercise-grow-socialize, diversified-visitable, neo-urbanist, walkable, animated places that are both economically and environmentally sustainable.
This will do more to reduce congestion and revive “dead” office and retail districts than anything else I can think of… it’s place-making, where not every trip is a car trip.
I also believe there is an opportunity to radically rearrange society… to experiment with:
Where is ecological diversity and wildlife flourishing most today? In the DMZ (demilitarized zone) between the two Koreas and the exclusion zone around Chernobyl. How come? Because there are (almost) no humans there, that’s why.
Think all this is impossible?
Well, Barcelona’s vision is to become completely self-sufficient by 2050. So, why not us?
FOR REAL ESTATE INVESTMENT AND BUSINESS COACHING THAT’LL HELP YOU PROVIDE FOR YOURSELF AND YOUR FAMILY FOR 3-GENERATIONS, PLEASE CONTACT:
Bruce M Firestone, B Eng (civil), M Eng-Sci, PhD
Real Estate Investment and Business coach
Century 21 Explorer Realty Inc broker
Ottawa Senators founder
BOOK YOUR FREE CLARITY CALL WITH PROF BRUCE NOW, https://brucemfirestone.com/coaching/prof-bruce-real-estate-investment-and-business-coaching/talk/
• MAKING IMPOSSIBLE POSSIBLE
• FREEDOM VIA REAL ESTATE INVESTMENT AND PB4L, PERSONAL BUSINESS FOR LIFE
• FEHAJ, FOR EVERY HOME A JOB, FEJAH, FOR EVERY JOB A HOME
• MAKE YOUR HOME WORK FOR YOU, INSTEAD OF YOU WORKING FOR IT
• HIGHER ROI NOT JUST FOR OWNERS AND INVESTORS, BUT FOR TENANTS, GUESTS, VISITORS, NEIGHBORHOODS, COMMUNITIES, TOWNS, VILLAGES, CITIES AND THE ENVIRONMENT TOO
Image source: By Antony van den Wyngaerde – https://www.urbanity.es/foro/edificios-en-general/13102-documentacion-grafica-ciudades-y-edificios-espanoles-20.htmls, Public Domain, https://commons.wikimedia.org/w/index.php?curid=15693394
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