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You're Blaming Me For What?

By Bill Roberts

Services for Real Estate Pros with Brooks and Dunphy Real Estate DRE 00527512

January 06, 2008 12:10 PM

You're Blaming Me For What? By Bill Roberts

Here we go again. Another round of posts pointing fingers at somebody else for the current real estate market, what some like to call THE MORTGAGE MELTDOWN.

Here are just a few of the latest posts:

How Much Should Realtors Be Fined for Their Part in the Subprime Lending Crash?

Should Realtors be blamed for the sub-prime crisis? (A rebuttal)

Florida Real Estate Flipper Gets Caught with His Pants Down

And here is an older one to help put things in perspective:

Clouding The Issues

What are the reasons that are out there for this crisis?

Greedy real estate agents
Greedy mortgage brokers
Fraud
Greedy Wall Street types
More fraud
Greedy "flippers"
Greedy sellers
Greedy buyers
Stupid buyers

Every one of these "reasons" has generated many posts from interested parties. When I say interested, I mean interested in BLAMING someone else.

Now, I also have posted on this subject. I've done my homework. I've decided that it is not (primarily) about fraud. Of course there has been some fraud, but then there always is some fraud. See I'm Really Tired Of Hearing "Fraud"

And I don't think that greed has been the over-riding force here. Of course greed is always present. Most people are responsive to things which they perceive as beneficial. Give me lots of money and I can see a benefit there. It's natural.

But there really is a bogeyman here. I blame him for the whole mess. I don't care if it was an unintended consequence. He did it. We all are paying the price for this guy's actions.

OK. Who is this bête noir? See Greenspan, The Evil Villain

If you have an opinion regarding this, let us know. If there are other current posts addressing this, let me know and I'll add them to the list.

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Bill Roberts

Brooks and Dunphy Real Estate - Oceanside, CA

"Baby Boomer" Retirement Planner

Sara Lee, Thank you very much. I'm afraid that some people don't read the posts, they just react to the title. Oh well.

Bill Roberts

Jan 06, 2008 12:31 PM

Michael La Fay

Meadow Lakes Supply Co. - Wasilla, AK

I got your back Bill ;-)

Jan 06, 2008 12:32 PM

Colleen Fischesser Northwest Property Shop

NextHome Experience - Chelan, WA

A Tradition of Trust in the Pacific NW since 1990!

Ok, I am commenting that I"m going to read to posts marked before commenting LOL.....interesting stuff. I'll be back

-Colleen

Jan 06, 2008 12:34 PM

Bill Roberts

Brooks and Dunphy Real Estate - Oceanside, CA

"Baby Boomer" Retirement Planner

Sara Lee, Thanks again.

Colleen, I'll keep the light on.

Bill Roberts

Jan 06, 2008 12:39 PM

Jan Wood

None - Gallatin, TN

Bill: If you've read any of my prior posts, you know how I feel about the Fed and Alan Greenspan in particular. You are right on, my friend.

Jan 06, 2008 12:40 PM

Bill Roberts

Brooks and Dunphy Real Estate - Oceanside, CA

"Baby Boomer" Retirement Planner

Jan, Yes, I have read your posts. It's amazing how we could both get it, while everybody else is pointing at each other.

Maybe a few more will get it in this round of posts.

Bill Roberts

Jan 06, 2008 12:45 PM

Cyndee Haydon

Charles Rutenberg Realty - Clearwater, FL

727-710-8035 Clearwater, Beach Short Sales Luxury Condos &Homes

Bill - looks like you're carrying the torch now - let's see what your readers think - thanks for stopping by and sharing your views on my post.

Jan 06, 2008 12:45 PM

Bill Roberts

Brooks and Dunphy Real Estate - Oceanside, CA

"Baby Boomer" Retirement Planner

Cyndee, I've got you to thank for pointing me to Matt's post. I commented there that he should have "featured" Lance's post because the subject needs to be fully examined.

We'll see how it goes.

Bill Roberts

Jan 06, 2008 12:50 PM

Karen Monsour

Coldwell Banker Fort Lauderdale Beach - Fort Lauderdale, FL

REALTOR, SSRS - Sells FL Waterfront, Short Sale Expert!

Bill Roberts,

What various posts, and if someone is going to write a post referencing others, why aren't they part of this post. After all there are over 60,000 people on here.

You expect me to read all those references, then reply? Why can the author just make his own point instead of making this like a senior project in college...I don't have time to read the articles and comments...sorry...I take back any and all comments relating to this post.

Jan 06, 2008 01:14 PM

Bill Roberts

Brooks and Dunphy Real Estate - Oceanside, CA

"Baby Boomer" Retirement Planner

Karen, You leave me speechless.

Bill Roberts

Jan 06, 2008 01:21 PM

William J. Archambault, Jr.

The Real Estate Investment Institute - Houston, TX

Bill,

I've already written about pointing fingers at: Clouding The Issues

Some times instead of commenting I blog, it's hard to devlope ideas in a short comment, so a reffence to another blog or an addtional blog is aporiate.

I'm sorry Karen will not approve, but she knows how much information she desires.

Good blog.

Bill

Jan 06, 2008 04:37 PM

Marlene Bridges

Village Real Estate Services, Inc. - Laguna Hills, CA

Laguna Homes|Laguna Condos|Laguna Real Estate

Bill - Looks like the operative word here is GREED. It really doesn't matter which hat they're wearing, greed is not good.

Jan 06, 2008 04:40 PM

Bill Roberts

Brooks and Dunphy Real Estate - Oceanside, CA

"Baby Boomer" Retirement Planner

Bill, I'll go read your post. And I'm sure you are right her. Thanks for commenting.

Bill Roberts

Jan 06, 2008 04:48 PM

Bill Roberts

Brooks and Dunphy Real Estate - Oceanside, CA

"Baby Boomer" Retirement Planner

Marlene, I'm sorry, but no, that isn't what this post is about.

But thanks for chiming in.

Bill Roberts

Jan 06, 2008 04:50 PM

Katerina Gasset

The Gasset Group & Get It Done For Me Virtual Services - Provo, UT

Amplify Your Real Estate & Life Dreams!

Bill- You are right, it is the evil Greenspan! This is a good post Bill. Happy New Year! Katerina

Jan 07, 2008 01:25 AM

Bill Roberts

Brooks and Dunphy Real Estate - Oceanside, CA

"Baby Boomer" Retirement Planner

Katerina, Thank you very much. I knew you would get it.

Happy new year to you as well.

Bill Roberts

Jan 07, 2008 02:06 AM

Kris Wales

Keller Williams Realty - Lakeside Market Center - Macomb, MI

Real Estate Blog & Homes for Sale search site, Macomb County MI

Bill, I think this was an awesome post. You compiled it nicely. I read a couple of the articles you pointed out, but missed one and will go and read it. (Clouding the issue)

Thank you for adding clarity to the "blame game" that seems to be infectious lately and pointing out that pointing fingers is useless and destructive.

BTW, I read the entire post before I added my comment :-)

Jan 07, 2008 10:23 PM

Bill Roberts

Brooks and Dunphy Real Estate - Oceanside, CA

"Baby Boomer" Retirement Planner

Kris, Thank you very much. In time we will get past this, but I fear that understanding is not something that many of us will have. Discussions like this help spread understanding.

Bill Roberts

Jan 08, 2008 02:15 AM

Anonymous

Henry

Who are you to call "stupid and greedy buyers"? I buy homes because I know where to get the deals and so on for a bargain. I'm not the so called stupid buyers you inadvertently penned in without knowing the facts. It is people like you who get innocent people into these types of loans that is wreaking havoc in the real estate market right now. It is more of your fault than anything else. Don't blame Greenspan and start pointing fingers at other innocent buyers who don't know much.

You have the gall to call people names when you fully know well you don't have a clue of the mess people like you created. Get over it. Admit your mistakes. Get your facts and accusations out of the way before posting something as dumb as this. We would not have been in this mess if these professionals like yourself know better than to get people in loans when you know they would not be able to pay on. Look into the mirror and point the finger at that image you see staring at you!

Jan 11, 2008 02:04 PM

#22

Bill Roberts

Brooks and Dunphy Real Estate - Oceanside, CA

"Baby Boomer" Retirement Planner

Henry, Thank you for commenting. When I wrote this it was because everybody IS pointing fingers at everybody else. I expected those who read this to be able to read and understand my message. Apparently my expectations were too high.

Bill Roberts

Jan 12, 2008 01:24 AM