Commercial Real Estate Industry Should Start Preparing for Next Recession Now, Says Rachel Wein

ST. PETERSBURG, Fla. --- Commercial real estate companies with an eye on long term sustainability should start preparing for the next recession now, says Real Estate Expert Rachel Elias Wein, AIA, founder and principal of WeinPlus Real Estate Advisory Services in St. Petersburg.

Wein said now is the best time to prepare for the next real estate cycle.

“All of the data on the past few years is still fresh,” Wein said. “Companies should take a forensic look at what happened during this recession, see when they were first able to notice the decline in their own business and their own revenues, and what they were able to do with that,” she said.

“They need to ask themselves what they could have done had they moved more quickly,” she added.

“Real estate companies, especially partnerships and public companies vested in long-term viability, need to focus on one discipline for growth cycles and a second discipline for market retractions,” Wein explained.

“They need to determine which signals indicate a recessionary event, and then have the fortitude to enact their plans when that time comes,” she said.

“Hopefully, we won’t make the same mistakes again,” she added.

“Real estate is cyclical, and prudent managers understand that another recessionary event will occur. The most successful companies have the discipline to anticipate cycles, prepare for them and most importantly, execute.” Wein said.