Saturday, January 31, 2009

Uncontrolled Spending

Can a government declare bankruptcy?

We are in a period of uncontrolled spending that seems to have no end. The current government seems to think that the way to get out of our current hole is to keep digging. Let me ask a question, when has this ever made sense. When you want to get out of a hole, you don't continue digging, you stop!

What we need is good, old fashioned, hard work at this juncture in our history. As was once said by a very great leader, "The only thing we need to fear is fear itself," which is absolutely true, but we are riding fear headlong into our current recession. We have several situations arising due to the fear of our nation's members, some are good for the state of things, ie better savings habits, and some are terrible, ie pulling investments out of solid markets thinking it will be better elsewhere.

I have recently had the opportunity to give a speech to our state Apartment Association. During the speech I was surprised at how few questions there were regarding how people could take advantage of the current market conditions regarding real estate. I admit that I was a bit disappointed in my own performance, not for the information provided, but from the presentation of that information. This was not as disappointing, however, as the lack of excitement in the opportunities of our current market. Baron Rothchild once said, "Buy when there is blood in the streets, even if the blood is your own." He was basically saying that you should be looking at opportunities, especially when most of the populous is running from those opportunities. Although I am glad that some people are overlooking the opportunities, I am amazed at how few there are taking advantage of them.

What do you need to know to get educated on historical real estate markets? I spent eight hours researching this current situation and have a presentation that I would be happy to share with anyone who requests it via email.

Hope you are able to take advantage of market conditions by buying a home, investing in real estate, or even expanding your knowledge at minimum!

No comments: