The Debt Ceiling Crisis and the Real Estate Market: Do You See the Parallel?

This deal was not a good deal for the United States.  It was the best they could come up with but until we have a chnage in control of the Senate and the White House, it will be difficult to put a stop to this steadily increasing debt situation.

The Obama health care debacle needs to be repealed.  Yes, we wil lneed to pay more taxes, but taxes and cuts won't do it all by themselves.  Has anyone tried to find something to buy that was made in the U.S.A.?

More and more manufacturing is going off shore.  That needs to come back to the states.  Wages and benefits need to be adjusted.  Peter Druker wrote a great book (actually several) on pension funds.  The unfunded liabilities are enormous. 

It's amazaing about all the "tax the rich" talk that gets on the cable news or commentary shows.  A complete revamping of the tax code needs to happend and soon.  Will the mortgage deduction go?  It depends.  If you put in (1) a national sales tax of only 1% and (2) if you turned the income tax into a flat tax with a low rate, you have major reformation of the system.  Another way to  think-Corporations don't pay taxes, they collect them from the rest of us.  If you buy a vehicle and the auto company actually makes a profit, don't you thinkt he tax is included in the price of the vehicle.

Real Estate values cannot exceed the ability of the public to make the purchase and subsequent payments.  The balloon always manages to burst.  The Dutch Tulip industry went bust in either the 1600 or 1700 hundres, the Florida Land boom went bust in the 1920's.   Nothing ever goes one way forever.

 

 

Too bad we can have a recall vote on the presidency!  Certainly there must be something we can do to stop the madness with this very destructive administration!

We all have 3 choices. (a) own your home

                                (b) rent a home
                               
                                (c) sleep under the bridge

 

Yes, real estate is a commodity but unlike most commodities it's an
absolute necessity.. definitely on a par with food and water!

If you buy your home only because it's the cheapest one in town, it's like a guy marying a girl because she looks like Marilyn Monroe or a gal marying a guy because of his wallet! Both reasons are worthwhile but if they are the MAIN reasons you will probably have a major marriage problem sooner or later. My advice to my clients is to be wise, be careful and think about what you are doing!!  I've been a Realtor here in Washington since 1968 and am getting ready to write a book about it !  Still kicking

 

I couldn't agree more with the other comments. The astounding debt ALL of our current and past leaders have incurred, in chase of the mighty re-election campaign monies, is criminal!! Not only do we have to pass term limits on all elected positions, but we must take the easiness of corruption to enter into legislation passed. When an elected official awards "Goodies" to their donors or supporters they know by the time the bill is due they'll be long gone. That is why balanced budget is a MUST. we elect people to fix today's problems, not build it into 10 years from now's bills. If they agree to a payment or benefit it must come off this year's budget. Unless it has to do with National Security it must be law that it is paid for Within the year's budget. And, no more voting in sweetheart deals of insurance, pay raises without good performance. They must br voted on by the people. So many of our long-time leaders went into office with no money, yet on a salary of about $100k, they walk away 20+ years later multiple-millionaire's. Obviosly, they're receiving monies outside of their salaries, whichmeans "we the people" are being scammed. We must to expectomits from our elected leaders, morally and financially!!

Hello everyone.

Seems this post has stirred up alot of emotion.    I love all the comments. 

Coach Patti Kouri

I agree with Bill.  However, it is getting a little crowded under the bridge!  Shelter is a necessity but do we all need to eat off marble counters?

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