Know Your Phases We all know the phases of the moon. You start with the new moon, move toward the glorious full moon and always return to the new moon. Just like the moon, the real estate cycle has phases. There’s no real starting point and no real ending point. It just recycles, repeatedly. Every phase of the real estate cycle presents unique challenges and opportunities; it’s essential to recognize which phase is currently occurring. Failure to do so can mean a huge misstep, resulting in significant monetary loss. I’ll address the real estate cycle in the next three blogs, which will include: Descriptions of each phase Strategies for each phase How the current real estate cycle differs from previous cycles Recession Recession, Depression, Down Market. Call it what you want, but this phase of the real estate cycle is typically characterized with oversupply in at least one property type.