Glass Half Full
I heard a quote recently that was attributed to Sam Zell...perhaps the greatest real estate investor in modern times. He is credited with saying, “Dear God please give me one more recession, I promise I won’t waste it this time.” I think that adequately sums opportunities that abound in a market like this when combined with the correct outlook and attitude. I don’t think we can argue that the US financial system, despite recent setbacks, is still the best system built yet, and the ingenuity and acumen of American business remains intact. Couple that with an increasing population base (unlike Japan), a more global economy with more travel access, a finite supply of land in Hawaii and a potentially inflationary market in the near future and one might start to recognize that while we cannot call a bottom to this market…it may not be such a bad time to get in!
