Recently, I went to the store and bought a $5.00 dollar gallon of milk and then went out and filled up my SUV with $3.00 dollar per gallon gas all the while thinking that it was highway robbery. I thought for a moment, that I could milk my own cow or even ride a bicycle for alot less money.... I got to thinking about how the good ole days were when my wife and I were spending $30.00 per week for groceries and when we bought a house for 8.5% interest in the mid 1990's then 8 years later the house sold for double what we paid for it. We all had it good back then. Everyone shared the wealth..... No one considered it a huge deal to pay realtors fees of 6% or upwards. Nor did they have a problem paying mortgage orginator fees or closing cost for loans. Home inspectors are being ignored. Now since the market has made a turn, everyone wants to shortcut the experts their fees for their services.....
I guess what I trying to say is....
I could milk my own cow to save some money, but I am not an expert on cows. To tell the truth, I am not sure the difference between a beef cow or a milk cow. I could go to a cow auction to buy a cow or even drive by a field and see a cow that looks good and make an offer on a cow that looks good to me. Once again if I get lucky, I'll get the cow home and it won't be a bull. If I get a milking cow I am going to need to try to milk her and not get kicked in the head.
My point is $5.00 milk is pretty good if someone milked the cow, pasturized the milk, delivered it to the store and kept it cool until I get there to buy it. The truth is this market, like the cow, will kick those in the head who are trying to save a buck or two instead of relying on the professionals.
I want to say to all the professionals on activerain, you are appreciated and people need you, keep your head up and look to those who are willing to use your expertise. Many people are about to get kicked in the head by old broken down cows who are giving any milk.
Vernon Corum, Jr.
Global Equity Lending