Something that I have learned in 2009:

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Posted by Shawn Sisco on November 06, 2009 at 17:06:56:

With one more rent round of rents/payments due in 2009, I’ll have to say that keeping homes full has been a challenge this year. I have had some victories – and overall I have gained some residents, but it sure has been a struggle.

I have been in business through some economic slow-downs before; but what I have experienced this year was unexpected to me, and yet having now been through it, I can’t imagine that I had not heard it before now. The reality is that when the economy pulls back as it has, there is no demand from those forced to downsize. I had expected an increase in demand, I had expected that this group would provide the increase in frequency of sales that my vacant lots would benefit from, but now I see it differently – this group has withdrawn from the market. I have converted some downsizers this year – but they weren’t those who were forced to downsize. Those forced to downsize folks apparently are sleeping on their friends couch as their incomes haven’t been merely cut, their incomes have been eliminated. They aren’t buyers at any price.

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