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Crisis Changes EverythingBY: Javier Segura | Category: Business and Finance | Post Date: 2009-02-13
Last week I've talked about how different is the business environment in U.S. now, compared than six months before. How there is happening a confrontation between the Corporate America and Main Street. Along the week, I have gathered more information about the crisis effects that has surprised me; and today, I would want to talk about that this week. First, and foremost; there is a consensus out there about that this is the deepest economic crisis that we have faced in long, long time. More over, knowing does not help; because a lot of market players do not know how to react to the landslide of events, and terrible news, that come up every day. Some people say that there is nothing we can do; some of them say that we need to change drastically our government ways; and so on and so forth. No matter that, there are markets that have dramatically changed, so far. Some of them, that you may be interested on, are: Real Estate Brokerage Market. Oh my Lord, this is another world, really. At the local level, during the last years, the number of Real Estate Brokers have increased significantly; and that is just the -official- number of brokers, not mentioning the -gypsy brokers- (Months ago, in towns like Tamarindo and Jacó, even the waiters -represented- properties). However, and as a result of this crisis, just in 2009, I have received information about an increasing number of Realtors that have retired from the business; or have been retired, as you want to say it. By the other hand, and in big leagues level, several of the most prominent Real Estate Brokerage companies are in the middle of the change from the traditional commission business to the fee based services. This change, requires investment, time, and creativity in high doses; which means that this reorientation is not for everybody; but it seems that this could be, perfectly, the future of the real estate business. Maybe next month we can talk about this interesting business more in deep. But basically, the structure of the Real Estate Business, not just the names, is changing more than dramatically; and those changes are occurring in a faster way than we can expect, even in crisis times. International Private Financing Market. We have been talking about this market in the last weeks. So, just for summarizing the changes occurred in this market, I will tell you that the time when the developers chose the best lender for them is over; now the lenders are the ones that choose the borrowers that they want; the time when you could get $10 MM or $20 MM without making any investment is gone, now you have to invest between $20 K to $50 K, in order to get that loan. At least the interest rates and general terms are still very accessible to the borrowers. There are many other examples about how the crisis have changed the markets; Industries like construction, tourism, airlines, etc, have suffered greatly worldwide. But not everything is about bad news; the amazing velocity with this crisis have spread around the world, and the diversity of industries involved, is bringing another light for those who are suffering these rough times. There is almost a consensus around the estimated duration of the crisis; most of the players are expecting that by the end of this year the recovery process will be visible, and by end of 2010 the world economy will be in clear growth, again. Only the time will tell, if the efforts made by governments, persons, and companies around the world will be fruitful; the only clear here is that, with the exception of some lawmakers from the GOP in U.S., everybody appears to be clear in the direction that we have to work toward. Have a nice week Javier Segura M. General Manager-DCL Realty Consultants javier.segura@dcl.cr Article Source: http://www.saching.com About Author / Additional Info: Mr. Segura is a well recognized executive in the Real Estate Development Industry in Costa Rica. His experience range from Investment Banking to Real Estate Development, including College Professor and CFO for a Software Company located in USA. He Currently lives and work in Costa Rica Additional Articles: * What it means to become a parent: Changes in life after having a baby. * Popular Tourist Attractions Of Austria. Places To See In Austria. * How to make up with your husband? * Smoking - Has it become a fashion symbol? * On-Line Shop-A Good Place to Buy GHD Does this article violate or infringe on your copyright ? It is a violation of our terms for authors to submit content which they did not write and claim it as their own. If this article infringes on your copyrights, then use our Contact us form with the detailed proof of infringement along with the offending article's title, URL and writer name. If you do not hear back from us then contact us again in another 10 days. Thank you. Comments on this article: (0 comments so far) * Additional comments are now closed for this article *
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