Quote:
Originally Posted by VivaLFuego
PKD, thanks for that analysis.
GIG,
1. Considering that we are not a booming metro area or even a booming city, wouldn't we be better served trying to focus development using existing infrastructure that is operating far below capacity and only needs to be maintained rather than expanded/built from scratch?
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This is a common argument I hear and I really challenge the validity of it.
Real estate is really about drawing circles and telling stories about what happens within that circle. Period.
So even if Chicagoland is overall losing population, you don’t need to see metro growth to see growth, tremendous growth even, if you are in the right place.
Right now the central area of Chicago is a story of growth—tremendous growth, some of the highest in the nation. Population, wealth, companies—and that growth needs infrastructure. You either keep the fire burning or you let it die.
If you only look at metro data you are a lazy real estate developer—you miss game changing opportunities—not too different from being a stock investor who merely puts his money in the S&P 500.