- By Michael W. Rudy, Editor-in-Chief
- Published September 2015
Prescience: knowledge of things before they happen
We are a country divided. We will eventually need to deal with that in a meaningful way.
A 2014 historical study suggests that not since the Civil War have we been so polarized as a nation. Climate change, immigration, Fair Housing law. The issues are many, and both the emotions, and stakes, are high.
Much hangs in the balance, seen and unseen, present and future. We are deciding, by the day, how our laws will be interpreted, how our culture will evolve and how we will operate as an economy and market.
Like Gus and Gizmo (the two puppies-gone-viral that jumped to attention seconds before a California earthquake hit), landlords must be vigilant, and even prescient, to navigate the uncertainty before us. Our businesses rely on reading the signs and taking steps to protect and grow our operations.
Landlords are out in front leading, a bold and perilous position in a land churning with change and provocation, to drive many parts of the recovery. With few good headlines otherwise, the country needs the success story that is multifamily. We must stand resolute and knowledgeable not only to educate the neophyte and the uninformed, but also to stand by those economic principles that we know from a lifetime of cycles will drive recovery.
Still, the air is full of distractions. The Federal Reserve continues to rattle the saber of higher interest rates. The White House promises more regulation to drive the President's Global Warming initiative, and from Disparate Impact to legal interpretations that continue to expand the reach of law, it is imperative that we remain on our game and mostly, smart about our operations.
I don't need to tell you. Jobs remain anemic, wages stagnant and the agonizingly slow economic recovery yields a delicate balance easily tipped. Uninformed perceptions are merely a distraction to the business at hand. Choose your data, sources and news wisely.
As multifamily business investors, owners and operators, we stand at the helm of the highest preforming sector in the country. Yet, anyone with more than 5 minutes of history inside multifamily knows its cycle and the economy form a delicate balance.
The stories ahead have one common thread. Change. It's the one certainty upon which we can all rely. Successful businesses are those that remain in front with the best data, information and news fueling their decisions. MHP will continue to work hard to be one of your tools in that arsenal.