Builders Adjusting Business Plans to Survive 2008
Builders and remodelers who work steadily on readjusting their business practices in response to the current economic downturn stand a good chance of surviving until better times arrive and trouncing the competition during the recovery, according to housing industry veterans appearing at the International Builders’ Show (IBS) in Orlando last month with the battle scars to prove they have weathered previous housing slumps.
“Today's housing market is obviously not the same housing market that existed a couple of years ago, and that means you can't afford to run your company the same way you did then,” said Michael Sivage, of Sivage Community Development in Albuquerque, N.M., who moderated the panel. The industry faces “another challenging year” following a “tough” 2007, he warned, and the burden is on builders to persuade consumers to consider the home-buying opportunities in today’s market despite the daily barrage of negative reports in the news media. ...