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Who Really Benefits From The Bailout?

By
Services for Real Estate Pros with Ron Taylor and Sons Real Estate and Auctioneers

Lately, I have been getting more and more e-mails from real estate associations and mortgage lenders encouraging me to contact Congress and tell them to bail out (not exactly their words) the mortgage industry. This would be good for the economy, get the banks to start lending again, realtors could sell more houses and we all could live happily ever after. So they say.

Before going any further, let me preface my statements by saying I am a commissioned auctioneer/real estate broker. My business is down just like many of yours. Now with this understanding, is this bailout a good idea?

Why would I want to burden my children's future with this national debt, a debt the government can never pay back without stealing it from you and me in the form of tax increases? Only if I am selfish and don't care. It would be like maxing out all my credit cards, pulling out all the equity in my home, leaving all this debt to my children upon my demise, just so I can have a good time in the here and now.

Our government is leading us down the primrose path of socialism, all in the name of "national interest." It was the mortgage industry, then the brokerage industry, the airline industry and now the auto industry. In fact, many cities across the country want a piece of the bailout out pie.

Where and when will it all stop? Only when you and I speak up and say enough is enough.

For more information on real estate auctions, go to my website at www.canSellnow.com or call me with your questions at 252-257-4822.

 

Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239
Real Estate One - Commerce, MI
Michigan homes for sale ~ yesmyrealtor@gmail.com

I don't know how or when it will stop..   All I know is we are in for a world of hurt

Dec 11, 2008 07:43 AM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

Is it socialism or "managed capitalism?" OK, I made up the term pretty much like Congress can print more money!

Dec 11, 2008 07:44 AM
James Engel
Keller Williams Realty Beverly Hills - Beverly Hills, CA
KW Beverly Hills

I agree with you. Sure the bailout may be ok now but I would hate to see what it would do to our future. Thank you so much for sharing that post with us. Have a great day!

Dec 11, 2008 07:55 AM
Linda Tremblay
Long & Foster Real Estate, Inc, PA License #AB065488 - Doylestown, PA
Associate Broker - Bucks County, PA Real Estate Services

I want to know how all these companies were supposedly doing fine a couple months ago, paying out huge bonuses etc, and now they are all ready to collapse with their hands out to Uncle Sam.  Then after they get the money, they take huge company trips at lavish resorts. Makes no sense

Dec 11, 2008 08:11 AM
John Douglas
Berkshire Hathaway HomServices Partners Realty - Bowling Green, KY

Ron,

The question that i have is where were the senate & congress when they disbursed all this money

to wall street no questions asked now some of these banks are using that money to buy other

banks. One day the American people are going to say enough is enough soon i hope.

Dec 11, 2008 08:13 AM