As promised in my last luxury real estate blog entry, here is my discussion of some meaty topics I've wanted to talk about for a little while. The past few weeks have been pretty thrilling, wouldn't you say? Wall Street dropped an incredible 504 points on Monday and 449 points on Wednesday. Fannie Mae and Freddie Mac, organizations designed to create stability, have failed. Other financial institutions, once seemingly healthy and sound, are facing bankruptcy and other troubles. Think that's bad enough? Russia's stock market is doing considerably worse.

The Grand Canyon represents the current financial market troubles. People who have built upon sandy foundations are fearful of falling right now. Photo copyright of raindog on Flickr.Okay, that's the bad news. Now let's take a step back and switch gears a little. I am an optimist. I believe that good wins in the end. I think that right now many bad companies and practices are facing the fact that they have built upon a sandy foundation and they are in danger of falling. All of the companies that are failing are doing so because of their own greed and recklessness. Home loans were turned into investment packages and many other bad ideas were allowed to come about because of greed.

If these companies had built upon solid foundations and principles that were put into place to safeguard the country after the Great Depression, we would probably be all right. It comes back to greed and pride. There is safety in old wisdom.

I cannot say a hundredth part of what I desire to say right now because this might not be the most appropriate forum to share the most treasured things in my heart. However, I can say that we need not fear what people can do or what problems may arise if we can see how temporary they are. We should be patient, long-suffering, forgiving and kind, especially when times are tough. Anyone who knows me knows that I definitely try to practice what I preach, so I hope you won't think that I'm giving this advice lightly.

Let these organizations tremble because of their fear of falling. We will not fall if we are firmly planted on truth and honesty.

The photo of the Grand Canyon is from www.flickr.com/photos/raindog/2838872767 and it is the copyright of raindog.

 
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2 Comments on Fear of falling

SEP
18
2008
Localism Sponsor

Hi Bob . . .   Thank you for your blogg-post. We have a very similar set of circumstances here in Hawaii. Hey . . .   what's the current market condition in your "neck-of-the-woods?"  Our Hawaii market is pretty flat with many Buyers merely sitting on the sidelines awaiting for better nargains and steeper listing price cuts.

Aloha and Mahalo

Jim 

11:41am • #1
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Dear Jim,

Thanks for asking. The Seattle area seems to be doing pretty well, actually. Home prices have begun to fall and less people are buying right now, but many real-estate agents I talk to are still gaining business and they aren't really complaining. I hope things will improve, but a lot of it will probably depend upon just waiting this out. Thanks again for your comment. :)

Sincerely,
Robert Lockard

11:47am • #2

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Robert Lockard

Seattle, WA

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Luxury Real Estate

Address: 2110 Western Ave., Seattle, WA, 98121

Office Phone: (800) 488-4066 x 856

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My personal thoughts on luxury real estate, technology, news media and a variety of other related topics and trends. I also maintain the Luxury Real Estate Blog on LuxuryRealEstate.com.


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