Reading my CCIM magazine this morning, I came across these comments:  “Cautious behavior keeps downward pressure on markets, creates no value for investors, and most importantly gates your ability to catalyze wealth creation.  History clearly tells us…the more severe the downturn, the greater the opportunities…and more lasting and substantial wealth is created.”

My wife and I started in real estate in 1982.  We bought our first piece of investment real estate in 1984.  A little old house, which we still own today.  We bought as much real estate as we could afford back in the 80′s when we really didn’t have much money.  We worked hard at trying to pay them off.  When the market took off, man did it take off.

Remember the S&L bailout?  There were  deals then, lots of them.  After the 1982 recession, lots of great buys.  The realities of a contracting economy are a big risk factor.    It takes a great deal of courage to buy in markets like these, but truly, these are the markets that you wait for to buy in.  You might take a harder look at properties that the herd is shying away from.