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Great Expectations
February 6th, 2013 10:19 AM

In the novel, "Great Expectations" by Charles Dickens, the main character, Pip, is an orphaned boy raised by his domineering sister and her kind husband.  The story is primarily about his expectations of life that are broken down into a cycle of how he experiences the world, going from poverty to riches, with continuous trials throughout.

We all have our own great expectations for this new year.  We are expecting a better economy, with more job opportunities, expanding industries, and commerical and retail growth.  We expect to see a positive increase in our savings accounts, stocks and retirement portfolios. We also expect the real estate market to rebound with increased property values, while less distressed homes drag down appraisal figures.  Expectations are strong that more buyers with cash will entice sellers to list their homes without fear of insulting offers. Depressed construction activity has kept inventories down and put upward pressure on prices.

We have waited a very long time for real estate to return to normalcy with healthy price appreciation and a drying up of the shadow inventory.  Even for the commerical sector, the rise in renter households is good news for those owning multifamily properties and for the owners of office, industrial and retail buildings, the decline in vacancies and positive growth in net rents is welcome news.

Like Pip, too many have experienced the poverty these past few years, but we have great expectations now that the future will be abundant in riches.  Let us go forward expecting the best!

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Posted by Barbara Doeringer on February 6th, 2013 10:19 AMPost a Comment

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