Well, if your reading this over the weekend, it means that you didn't have plans for the labor day weekend or you didn't have the money to make plans. If you reading this on Monday/Tuesday, congratulations, you have survived the weekend, with your significant other telling you that you should find a new line of work, to make it back to your desk. Maybe, I have caught you while you are sitting at an open house and had the presence of mind to bring your laptop for the occasional lull in activity. Yes, I have been there and I feel your pain.
Ok, on to the purpose of the blog. If you are still in the industry at this point, you either had a huge savings account or you have a large enough referral base to survive this market or you have the ability to put the blinders on and just go to work and do your job and you know that if you build it, they will come...I am in the last category, just in case you were wondering. Now, how about the news that we hear from the non main stream media? How do we survive it? In case you are wondering what news it is that I am speaking of...Check this out: (not for the faint of heart)
http://www.shadowstats.com/article/292
As for the source of this information, it is the same radio program that I have been listening to for the last couple of months on Saturday mornings. It is called "Follow the Money" with Pat Kiley. He uses John Williams inflation statistics to make his point about how poorly the economy is operating right now, and how we are walking around with our heads in the sand because that is where the government needs us to be able to pull us out their way.
I don't know who coined the phrase first but I am going to plagarize it, "Hears the News!" We do not necessarily need to be reminded of how bad the economy is right now because we are experiencing it in our business (or lack therof), but we do need to understand what is really going on. However, it is up to us to share this knowledge with the buyers and sellers that are currently in the market and let them know that without the houses to sell and buyers to buy them, the economy will not get worse, it will collapse. The reason being is that the fact that fannie mae/freddie mac do not have enough good loans in their portfolios to offset the bad loans that they are sitting on, is eventually going to lead to the demise of those two government sponsored lending institutions.
This does not mean that you have to walk around your office and your community like the angel of death, but when someone asks about the economy or if this is the right time to buy or sell, be honest and tell them that without buyers and sellers in the market right now, who knows what would happen to the economy.
On to a very positive note, there is a change on the horizon. I don't know if I should say what political party that I am a registered voter in, but you will probably figure it out sooner or later. (if you haven't already) I am very excited about the prospect of having change coming to the highest office in this country. Hopefully, it is going to be a change that is in line with the faith that our country was founded on...One nation, under God...
However, it is going to be change that is going to shake things up in Washington and hopefully it will not just be business as usual, regardless of who gets elected. God Bless you all and I hope you have/had a great labor day weekend...Jason
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