INVEST R R E V I E W A Think Real ty Publ icat ion
HOUSING NEWS REPORT
BY ATTOM DATA SOLUTIONS AT OM DATA
INDUSTRY EXPERTS SHARE PRACTICAL STEPS THEY’RE TAKING. How to Recession-Proof Your Real Estate Business
by Daren Blomquist
A
growing chorus of economists predicting the U.S. economy
“Personally, I don’t think it is an if, the real question is when. WFG assumes we will have a recession commencing somewhere between Q3 2019 and Q4 2020.” PATRICK STONE executive chairman and founder of the Williston Financial Group (WFG)
WHERE THEY’RE “MOVING”
will enter recession territory in the next two years coupled with signs of a cooling housing market have many in the industry wondering if they should batten down the hatches in preparation for a possible downturn. However, in recent surveys with industry leaders in six real estate verticals (marketing and lead generation, mortgage brokers, investors, title and settlement services, and insurance services), not all experts even agreed a recession is likely. Here is a cross-section of what those leaders had to say: “OwnAmerica is operating on the assumption that the market is very strong and will continue to be. Predictions of a coming recession might be wishful thinking from
“The biggest challenge in our business model will be suggesting California investors move some of their equity positions to Florida.
That move will increase their cash flow
HOWTHEY’RE PREPARING:
greatly and improve the quality of the inventory they hold…. We go into
“Over the past few years, LendingTree has been diversifying its business, effectively eliminating dependency on any singular industry, market, or business environment.”
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this next recession feeling that real estate prices won’t take much of a price hit.”
TENDAYI KAPFIDZE chief economist at online lending exchange LendingTree
BRUCE NORRIS Founder and president of The Norris Group
some people. I will leave you to speculate on why anyone would root for a recession.”
“It’s a little bit hard to prepare for the recession right now while things are continuing to grow at a rapid pace. Nothing is indicating our customers are slowing down… in making investments to acquire those new customers…. We’re more focused on helping our customers grow and expand.” ARUP BANERJEE CEO of Windfall Data
GREG RAND CEO of Own America, who recently posted a challenge on LinkedIn offering to place a $10,000 bet that there will not be a recession in 2020
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Daren Blomquist is the executive editor of ATTOM Data’s Housing
News Report and ATTOM Data’s vice president of communications. Read the extended version of this article and learn more at ATTOMData.com.
RICK ABELL ALPS
JIM GLASGOW Court Street Partners, LLC
GENE GUARINO RAL Academy
MICHAEL JANSTA Auction.com
GARRETT SUTTON Corporate Direct
SHAWN WOEDL NREIG
66 | think realty magazine :: november 2018
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