We all know that real estate sales go in cycles. Buying at the top is expensive. Buying at the bottom is lucky, but usually only known in arrears. What we should think about now is this: Commercial real estate activity usually follows residential patterns, but nine months to a year later. So what do we know about the housing market in Connecticut now? It's hot, hot, hot. And what does that tell you about waiting longer to purchase commercial space? Do not, not, not!
This is the time to lock in real estate, before a booming surge in new homeowners leads to a need for other kinds of real estate. All those buyers will need furniture, cars, food, tools, and other things that come along with a new lifestyle or location. We already know that restaurants and other entertainment locales are just waiting for spring and summer patrons. But what about everything else that they haven't bought during the past year? While it's true that ecommerce has filled a big part of people's needs, there will still be an uptick in bricks and mortar for all kinds of purposes.
If the second Roaring 20s are going to hit us soon, why not position yourself to make money just through foresight? Buy now, and reap the rewards as the economy recovers from the pandemic. Your investment portfolio will thank you later, if you fill it with some commercial real estate now.
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