It's been a rough year. But it's still possible to be thankful. Let's discuss.
The title of this post is a quote attributed to him, which has implications far beyond boxing.
Professional Example: You spend weeks/months having meetings on a strategic road map. All the stakeholders are aligned. Communication seems good. Then the price of an input widget goes up, or your COO is poached by a competitor. You had a plan. You got punched in the mouth. Is the plan still the same? No.
Personal Example: You decide to run a marathon. On Week 3 of training, you destroy your ankle. Had a plan. Got punched in the face. Not the same plan. Divorce is a great example here because marriage, especially in the middle class, is tied to tons of plans: house, kids, dogs, hosting Thanksgiving, all the works. That’s the broader plan, right? Then you get punched in the mouth. No longer the same plan. (In this example, the punching is partially done by yourself, because the problems in a relationship are a two-way street.)
Example of both: 2020, layoffs, COVID, spikes, and more.
Fall down 7 times, stand up 8
I conceptualize it this way sometimes, via here.
The point is: you will/do get punched. What matters is the next moment. How do you build yourself up? What do you do to grow?
We still have concerns in DFW, no doubt
More than 19% of Federal Housing Administration-backed home loans in DFW were behind in payments in August, the seventh-highest delinquency rate in the U.S. Across all types of home mortgages, 8% of DFW homeowners had missed at least one payment by then, the DMN said.
Another pressure point for DFW markets is softness in the once-booming office market. There has been just shy of 5M SF of negative net absorption in DFW office space year-to-date, CoStar found. It's the first time since 2009 that the market is going to finish at negative net absorption levels, Hendershot said.
Unemployment also remains a drain on the real estate economy, with the Bureau of Labor Statistics reporting that 488,800 people across three DFW employment markets were unemployed in October, up from 252,000 a year prior.
So it hasn't been the best year, and now we gotta be thankful?
Indeed. And we should be. Because we're still here, and we're trying, and good things could be on the horizon.
And know this: it’s much less about locking in the plan, and much more about knowing how to respond when the plan doesn’t work anymore.
Intractability has no place in modernity.
Now, get out there and enjoy your holiday, no matter how you are celebrating. We'll be back next week with some more housing content and great apartments to consider for 2021 -- which, sheesh, might be your best year yet.