All licensed real estate professionals in Texas receive a monthly magazine from the Real Estate Center at Texas A&M University. Apparently the cost of the subscription is a part of our license fees.
I would like to suggest that those of you who receive the magazine, read the article titled
"Commercialspeak TAR Panel Insights" by Harold D. Hunt. Focus on Mr. McCroklin's comments in the section on page 28 under the subheading, "Any final thoughts?"
He talks about the changes of our accounting system to match one called International Finance Reporting System by the end of 2014.
In there, he explains that if banks and other financial institutions would change to "mark to the market" accounting now rather than wait until 2014, we could systematically resolve and work ourselves out of the real estate crisis, dramatically reducing foreclosures.
If what I learned in school more than 40 years ago is correct, and the passage of time has shown that it is, Mr. McCroklin's advice is worthy of implementation now.
Thos of you who do not receive the paper edition of Terre Grande can read the article at www.recenter.tamu.edu.
BILL CHERRY, REALTORS
DALLAS - PARK CITIES
Since 1964
214 503-8563
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