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An interesting view of our current crisis.

http://www.informationclearinghouse.info/article18119.htm

Some extremely candid views are pointed out in this research piece. It gives a fairly bleak outlook on the market, namely real estate. I guess my youthful optimism keeps me from accepting that this will affect my business. I have always tried to work harder than the next guy. The business is out there, yes, getting it is the key.

I consider this a thinning of the herd so to speak, and long overdue in my humble opinion. I believe alot of people got into real estate at the turn of the Century and made their big bucks shooting the fish in the barrel. Now that the barrel is empty, they are leaving by the droves. I'm frankly glad to see it.

I know I will survive this new market because I work harder and stronger than the guy next to me. We all have the same opportunity in this new market, are you ready for the new challenge?

Posted by George Booth on 08/05/2007 11:11 AM

Comments (4)

bubble, market, wall street, research, survive, challenge, slump

4 Comments on An interesting view of our current crisis.

OH MY... someone with something positive to say!

watch your head, everyone else wants to sell you a piece of the falling sky :)

08/05/2007 11:16 AM

by Boca Raton & Lake Worth Florida Real Estate Broker

David, the Grapevine and Broker Outpost is a misery stricken cry party. The LO refuse to do what they need to do to get the business in the door. It's back to basics in my opinion. Most of them will be gone over the next six months.

One thing I find interesting the people oft forget interest rates only 20 years ago were in the high teens to twenties. You had to have 20% down when you bought your home also. This is simply another cycle, rates historically speaking are great! Furthermore, in my humble opinion, 20% down is a good idea. If the borrower shows they are not willing to accept a portion of the risk, why in the hell should the bank?

It's simply a different format to follow, but essentially the same game being played by all.

08/05/2007 11:21 AM

by George Booth (WAS Group, LLC)

Real Estate is local. It will develope differently in the various markets. I am more concerned about how mcuh we are fixing to be taxed from the local, state and national levels. This takes money out of peoples pockets. It will begin to effect jobs which is the sad part. People in some areas of the country tend to speculate on the home purchase. Lets hope the job losses do not come. Then we are all in big trouble.

08/05/2007 11:31 AM

by Eric Bouler (Prudential Gardner)

Wow, real doom and gloom eh? I tend to agree with Eric, Real Estate is local. One piece that I am hanging on to myself is that the downturn in the stock market, however it is driven, results in people looking to other avenues for investment. Keep in mind, changing market values does not take money away from the economy, it just illustrates that where that money flows has changed.

In 2000-2001 when the tech bubble burst and the stock market "corrected" what happened to Real Estate? We started on a 5 year upswing, because people were looking for value. Same thing will happen again this time around. THe minutae may be different but the philosophy remains the same - people burned by Hedge fund collapse, Derivatives meltdowns or Brokerages closing funds will look for a safer, more tangible, easier to understand vanie for their investment. Save for Gold and other precious metals, Real Estate is the best option.

I look forward to being a Realtor for a long time to come.

08/05/2007 11:48 AM

by William Moore (Innovative Realty)

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