Recognize that homeownership is not for everyone depending on your current situation. Before the crash, credit was too easy to come by, on everything from credit cards to mortgage loans.
Even a decade after the recession, many people are still rebuilding their credit, Wright says. Poor credit can have a personal impact, too, including depression, isolation and stress on our relationships. In a post-recession world, Wright says she hopes people are better equipped to distinguish between needs and wants. They then panicked, sold and missed out on the market rebound in and beyond, describes Paul Gamble, CEO of investment strategy engine 55ip. Smart investors need to have a plan that sees a way to stay in the market and ride out the cycles.
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Sign up for our newsletter and follow us on Facebook , Twitter and Instagram. One of my responsibilities was to explore adjacent markets, one of the primary ones being solar energy. This background was invaluable as I delved deeper into the industry.
Business survivors: Revisiting owners from the recession years
Besides the technical knowledge involved, I also learned which parcels we owned that would best be suited for the different renewable energy technologies. I met with solar professors at Arizona State University, solar developers and various governmental personnel and industry experts to educate myself. Every night I would sit down with my husband, who is an engineer, and try to understand the different technologies and which parcels we had that would best be suited for the different technologies. Due to the credit crisis, even the solar industry was facing challenges in getting investment capital.
There was great economic uncertainty and I faced many rejections trying to market our properties for solar expansion. I kept meeting with industry experts in order to find opportunities for our business to grow in. I would get comments often at industry trade shows on how it is unusual for landowners to attend, since we aren't technically in the industry. But I never gave up. In , things seemingly changed overnight!
The economy was improving and President Obama was encouraging solar developments and providing federal funding for projects. APS, the local Arizona utility, began issuing solicitations for solar projects. Immediately, all the contacts I had made over the past few years were calling non-stop, scrambling to tie up land that had suitable solar qualities before their competitors beat them to it. We eventually finalized more than 25 agreements with solar developers around the world who purchased, leased, or did joint ventures with us.
Avoid spending and become debt-free
Although land values had plummeted, solar developers were paying peak prices for our land, since the characteristics they were looking for -- such as proximity to transmission, high solar resource and flatness -- were so rare. We even began developing our own solar facility, an initial development on a 40 MW solar facility in Hyder, Ariz. We eventually turned this project over to a solar developer, who is currently developing this site. Three lessons I have learned on how to survive a recession are invest wisely in a rapidly increasing market, have a reserve to help you get through lean money times, and always look for new market opportunities for your product.
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Average Review. Write a Review. Related Searches. This is a story of a young boy growing up in a close-knit family in This is a story of a young boy growing up in a close-knit family in Eastern Europe, influenced by intrigues of national politics in pre-World War II.
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This autobiography dramatizes his life and survival at the end of WWII and the View Product. An African Story. Chinedu was a bright young boy, unfortunately disillusioned by the death of his beloved father.
He finds himself spiraling out of control until a visit to his Nigerian grandparents in Toronto puts him on a path to self-realization and changes Christa's father served as a Nazi officer under Hitler's Third Reich. His refusal to follow