Want to Enjoy Success? Work on Paying Down DebtApril 12th, 2011 | Category: Industry News
Do you know what has separated the companies enjoying success in this difficult market from the ones who are still struggling? According to DWM columnist Michael Collins of Jordan Knauff and Co. it all comes down to a four-letter word—debt.
“Debt has been the key in separating the haves from the have not’s,” said Collins in his presentation during Fenestration Day, during which he also offered his door and window market update.
“You can downsize all you want but if you have still have debt it doesn’t make a difference,” he said. “But those without debt are doing well.”
Collins also told attendees that though the market has hit bottom “bottoms are messy and sloppy and they don’t make sense all the time.”
But in this fight out of the bottom, Collins said that there “will be a good number of deals in 2011” signifying that the market is bouncing back.
He also noted increased strength in the multi-family market.
“2013 will be extremely strong in the multi-family market,” said Collins. “Yes they have slower payment, but they have buy-in volume, which is a positive for industry companies.”
He also addressed many market trends including the growth in the green building market.
“In a few years it won’t be green building, it will just be building,” said Collins, signifying that this is now becoming more of the norm with industry companies.
For more updates from Collins, read his monthly column in DWM magazine and his blog.