Crisis: Danger + Opportunity
My dear and wise friend, Gene Brown, wrote:
After 2 years of a worldwide pandemic that has not only been deadly, but very revealing in how things have been arranged and how they must be rearranged... now comes the horror of a large, actual, in-your-face war in Europe. A war that, even if it were to end today, is establishing and putting in place new ways of doing things, business, politics, and life. Another dear and wise friend, Ken Weiss, has shared multiple times that when written in Chinese, the work 'crisis" is composed of two characters: one represents danger and one represents opportunity.
The crises we've faced these past two years caused us to assess the danger and reexamine how we operate. It is now time to take advantage of the opportunities.
I recommend that we examine our unique position in the marketplace and our relationships with others - friends, clients, business partners.
- Think about the changes on the horizon.
- How we can help others and add value in these tumultuous times.
- How we can leverage our positions, situations and relationships to our clients' benefit and to our own. There are radical changes afoot in many of Manhattan's residential real estate sub-markets (luxury, fixer-upper, Midtown and rental, to name a few). And more change is on the horizon. Should you or your client be buying, selling, investing or renting now, or waiting a year or two? Where are the best places to own, sell or rent real estate? Better to finance or pay cash? How can savvy investors take advantage of opportunity zones and 1031 tax free exchanges? What other changes can we expect in law, finance, insurance, construction, decorating and lifestyle that should factor into the decision making process? Everyone's circumstances, opportunities and appetite for risk are different. Let's continue this conversation about the market and its specific impact so you or your client can weigh the options and determine how best to navigate.