Friday, June 19, 2009

market misjudgments in real estate(3)

these stories are only some of the more spectacular examples of market misjudgments in real estate. virtually every community has its album of stories of landowners, large and small, who built their dream project,only to have it die financially for lack of an adequate market. Frequently, the developer disappears from the industry and little attention is ever again paid to the failure.
market misjudgments in real estate too often are enduring and disastrous because the commitment is large, permanent, and immobile. Further,many developers have learned trough bitter and financially devastating experience that if the market they had counted on is not there when their project is completed, it is beyond their power to create it.

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