I love YOU TUBE. Take a look at the tongue lashing Mr. Ben Bernanke takes from Mr. Ron Paul. The truth of the matter is that NAR's chief economist, Lawrence Yun, Ph.D should take a look at this video and others. No one is really talking about the real issues of the economy. In fact Mr. Yun is so far off base when it comes to real economic conditions, that I embarrassed to pay them fees!
I came across this article which really puts things in prospective for us. Simply said, total debt based obligations of the Untied State of America and its citizens is a cool $53 Trillion Dollars. More simple that that, is $175,000 per American...every Man, Woman and Child.
The truth is this: I owe Another $475,000 of debt just for my family of three! Real estate brokers need to know the real deal. You will need to know how to advise your clients in an intelligent manner. The coming 5 to 10 years will be true water shed years for our industry...not because of technology and changes some brokers won't adapt to, but because we are at the end of a 30 year debt noose! In case you have not noticed...the Go-Go days are gone. Making it in this business now, will be hardcore!
It's not good news or bad News...it's just the facts. We all need to know that the sub prime and Real Estate bubble bursting are trivial compared to the reasons outlined in the above video. The Federal Reserve and it's continued production of debt.
For those of you wising to prop up and promote the Nanny State Of America into the realm of further Government Debt, I advise you to rethink. This also applies not only at the Federal Level, but State and Local municipalities. Every part of the governing entities, including even our local HOAs, are out of control.
Should you wish to continue making a living in any part of the Real Estate industry, then you need to be educated in the real problems facing our industry.
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