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EXECUTIVE WATCH GlobeSt.com:
BY ANTHONY J. LOPINTO
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| EXECUTIVE WATCH
is a weekly column featured on GlobeSt.com, the leading online real estate
news site. Tony LoPinto, the CEO of Equinox Partners has been the
author of this widely read column.
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EXECUTIVE WATCH PERSPECTIVE
By Anthony J. LoPinto
August 28, 2007
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The lazy, hazy crazy days of summer are drawing to an end and, given the credit-market turmoil, many are glad to move on in hopes of brighter days. Of course, the aftershocks continue, and a Wall Street Journal survey last week hinted that they may usher in a recession. Over the past couple of years, I#&39;ve heard real estate players, those with their hands on the levers, tout their beliefs that this market is different, and that fundamentals have changed. Well, they were wrong. I#&39;ve been in the real estate business since 1972 and have experienced multiple cycles, including the wholesale collapse of the early '90s. The humbling perspective gained during down times should teach us something, namely, that what goes up will come down. The recent wake-up call suggests that owners, investors and developers should take stock of their bench strength and make sure that the talent they put in place has this perspective. In months ahead, it is going to come in handy.
© 2007 - GlobeSt.com, all rights reserved.
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