The third force which arrived about the time as the other two was market decline brought about by the financial collapse.
This is not news by now. But what was important about the market decline due to the collapse of the financial markets was why the financial markets collapsed. No one could trust anymore. They'd been taking on faith all this stuff and they found out that what they're relied on before they couldn't trust anymore. Then deals went away and no one would work together because no one trusted anyone anymore.
As Stephen F. Covey shows in his terrific book The Speed of Trust, when trust goes away, business slows. In some places in the country, the market disappeared altogether. In Philadelphia market speed slowed by a factor of about 2 or three. This means the goals you could have reached last year now took 2-3 years to accomplish. So if you thought you were going to do $150,000 this year, you're only going to do $50,000 - $75,000, if you were lucky. I'm looking at the Covey book in detail in my entrepreneurship blog, cited below. Get the book and read it, if you haven't. He's the son of the 7 Habits of Highly Effective People book.
happened when financial markets collapsed was many buyers are stuck sometimes because they know what they think they want, not what they really want.
I'm trying to create a more informed real estate customer. Is this working?
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