GlobeSt.com: You mention in your report that there are unpredictable forces that affect the real estate market. That's clear, but forces aside, the traditional six-month lag time between the economy and the industry gives us time to strategize, no?
O'Hearn: Not really. There used to be a six- or 12-month lag, but those time frames have shortened. The old art of examining real estate cycles so you could predict direction is gone, and we have disengaged from the cycles theory. The forces affecting the industry today are so complex and diverse, and the changes taking place are happening so rapidly that you simply can't trust the cycles.
GlobeSt.com: Is it that they are too rapid or that they no longer exist?
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
