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| The Snowball Effect |
As Rich Levin had stated on his book, Guide to Windows Me, "The
moment somebody buys a computer, it's already obsolete. Computer
technology has always evolved rapidly."
This concept of Levin also applies to what the real estate
industry is experiencing right now. The advent of new technology
has gradually posed an impact on most real estate properties
thereby creating a shorter life span of most edifices. The fact
that the construction of new buildings and offices cannot match
the pace technology is taking on these days will definitely pose
a major problem in the real estate industry in the near future.
The specifications of the on-going constructions or even the
newly built buildings are not fit for the new |
technology. Such
that when the time comes that the building is fully functional,
renovations are apparent just to make some room for the new
technology. And if it continues for the next twenty years or so,
the real estate business will absolutely fall and crumble down.
Also, some futurist contend that the growth of real estate will
be sluggish and will continue to do so in the next few years due
to the fact that the industry was greatly affected and is still
experiencing some effects from the things that are happening in
the society today. What goes on in the real estate industry is
some sort of an aftermath of events like the alarming growth of
bankruptcy cases, merging activities of giant companies, and the
September 11 |
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tragedy that rocked the world with tremendous
blast.
This, in turn, created a snowball effect in the industry. Little
by little, there are factors that contribute to the creation of
one big worldwide financial crisis, and the real estate industry
is not exempted.
Some futurists also contend that the escalating prices of crude
oil in the international market can also pose a great upshot on
the real estate arena. This is because the instability of the
oil prices triggers the growth of costs of commodities.
If there is any one formidable obstacle to the realization of
free trade, progressive globalization and fair market prices, it
is the staggering effect of oil prices. And to proclaim that the
slogan of |
globalization, competitive markets, fair prices, and
booming real estate industry under the regime of a shaky economy
is to utter an oxymoron - a glaring contradiction in terms.
However, things may continue just the same, corporations will
still tie up with real estate investments. But one thing's for
sure in the next century, the real estate industry will be a
marketplace of hard selling and arguments all centered at one
common point - to obtain a lesser price.
About the author:
David Riewe is a Publisher and Online Marketer. Visit his Real
Estate Blog Save $$$ Selling Your Own Home FREE eBook Shows You
How! http://www.push-button-online-income.com/realestate
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