And they approach the first turn…..That’s right, here we are “loosed”  from the gates and  approaching that first turn in 2010. What have we learned thus far? Well we know that the Saints play better in the clutch than the Colts did, and fans and record book enthusiasts will forever hold accountable the Indianapolis Colts for not going for the only second time in history before undefeated season.  Do you realize how difficult that would be in this new era? It’d be like, well, winning the triple crown and smashing all records since about 1973, about or close to the time the Miami Dolphins did the same.

We know that the University of Tennessee scholars have stated that unemployment in the state will remain above or at 10% not only for 2010, and 2011 but into 2012. We know that in January, the unemployment ranks grew by 800,000 but may not include those who merely gave up. To steal a moniker from a former president “it’s the economy stupid”.

At a recent meeting, one of our principles where I work gave a very incisive description of things from a year ago this time.  His view from the top was that typically in any market, when multi-family is doing well, commercial properties are down, and vice versa.  The theory being, when interest rates are up, some folks will be renting or leasing homes whereas if interest rates are down, and either the government or conventional lending is good, home sales go up and multi-family occupancies may dip. At the same time if lending rates/loans/money is available then commercial, office, industrial and retail goes up because of expansion, and growth.  And this was followed by commentary which stated, that typically both these go in cycles every few years to some extent or the other,  however,  this is the first time in a very long time, possibly in 40+ years, both have been in the same trough or ditch. Our government appears to be in “study” of this as we speak. I hear they’ve even convened meetings with people who are business owners of all things, to study what might help.  Let us hold our breath in that in this time of “study” some real world learning actually takes place.

We are at what my dad used to describe as a place lower than a snake’s belly in a wagon rut!!  But we knew that this new decade would not usher in unheralded wealth and prosperity. Before we entered this new decade things were on the downturn, this cannot be discounted, and the fall off, was not widely reported and not reacted to in a timely way.

And as we see more snow, 3 feet in Washington D.C., and frankly I can’t see that it could have landed in a better place than that, and on the ground here, it is a good time to look toward matters legislative that are pending, and be in touch with how the winds are blowing that may affect us even further.  So as the global snowing continues to fall, one of the best things, is there can be no bad laws passed or debated.!!! It’s like the American people got themselves a “holiday”.  Perhaps in this instance, more snow, has been a blessing at this crucial time in our economic woes.

As we think of ways to better the bottom line with less, keep residents, and tenants happy with less, let us, as the Institute of Real Estate Management, not forget those who are even more in need. For years the Nashville Rescue Mission has served this community, and as promised in recent meetings and articles, the Greater Nashville Chapter of I.R.E.M. #71 is in this most difficult time going to help those who are less fortunate. We may not be able to service the poor folks in Haiti, but we can darn sure help those right under our own roof, and that we shall!

We have a great committee of volunteers who are charged with raising money through the annual IREM golf tournament to benefit the Nashville Rescue Mission. The tournament will feature many exciting changes this year! It will be held on Friday, June 11th at Windtree Golf Course.

Let us show our support in this most worthy cause, and this, first of the year, when all the chips are down, and “the breaks are beatin’ the boys”, that we have not and will not forget those who at the bottom of life’s rung on the ladder, need a hand up. Please join me in this cause.

Very sincerely,
Lance H. Johnson, CPM