OK, it’s that time of year where we have a little fun making some predictions about 2014, so let me break out the crystal ball and tell you some of the things I see ahead in the next 12 months.
Higher interest rates
This, without a doubt, will be one of the big financial stories of 2014. The recovery is building, and the Fed has confirmed it with its announcement of a taper in quantitative easing. The Fed needs some room to wiggle should the economy turn down again, so it’s cautiously going to let rates rise. Plan accordingly.
Condo strength
The condo market will continue to be hot in Miami, but we’ll see an evolution among the buyers. As U.S. buyers start to access financing again, they’ll notice that the Miami condo market is hot without being overbuilt – yet.
They’ll buy the best units in a quest to secure a floor on pricing and remain as liquid as possible, and they will lease them out.
Many planned condo projects will turn into rental apartments.
Homework
Your real estate due diligence will be done one deal at a time – and it’ll have to be rigorous. The continued low interest rates have masked problems in many property types. Be careful.
Energy
Economic recovery will bring higher gas prices, but the continued energy revolution in the U.S. (read: shale oil) makes me optimistic that prices will trend down at some point.
The Miami Heat
We’re gonna’ have a three-peat. Mark my words!
New words for the year
Strength. Courage. Focus. Fitness. Wellness. Laughter. Humor. Honesty. Goals. Those will be among our themes for 2014.
Same show – only better
We’ll use 2014 as an opportunity to make our product better than ever. We’ll continue to have timely input from our expert guests, and we’ll have plenty of events and speaking engagements.
None of this would be possible without our sponsors, the 880 The Biz crew, and you – our listeners. So I want to thank you all from the bottom of my heart, and we’ll see you in 2014!
Follow me on Twitter @JimFried or @FriedOnBusiness, on Facebook at facebook.com/friedonbusiness, or on the web at friedonbusiness.com.
