Benjamin Franklin once said that there are no guarantees in life other than death and taxes but I believe we can also add a downturn in the real estate cycle to that list.
Having been in the real estate business for over three decades I’ve experienced first-hand multiple cycles in the market. During these phases I’ve noticed a trend, people who operate their properties with a strong management team typically forecast the market turning and prepare in advance.
The market you’re in will have a lot to do with how properties are effected, Los Angeles and a few other major metro areas typically only see a drop in value of a few percentage points while other areas can take a bigger hit.
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