Wednesday, November 14, 2007

A Tidal Wave of Doom and Hope

Every day the news get a little worse. The War in Iraq is still claiming lives on a daily basis. Suicide rates are jumping for returning veterans as well as their homeless rate. Foreclosures are at their highest level in years. The National Association of Realtors have forecast that we will be in for another tough year. Every day I get a call or two from desperate people who need to refinance or sell their homes. Every week I get a new notice from another bank I've done business with that says they are no longer in the business of loaning out money and writing mortgages. Consumer confidence is hitting some serious lows and the retail businesses are bracing for the worst holiday season ever.

Will this snowball of doom and gloom ever end? Of course it will. It always does. The War will eventually end. A new President will be chosen. New business technologies will emerge. Banks will begin loosening their credit requirements again. People will begin selling their homes easier and faster. Buyers will start to buy again with confidence. The cycle will start all over again. This is the way it has been for ages and the way it will be again. There is just so much doom and gloom we can take as a species before we create lasting paradigm shifts in our reality. The time is coming and it will be here before you are even aware of it. Concentrate on one good thing you can do for yourself or others and the good times will be here sooner than later.

2 Comments:

At 11/18/07, 3:18 AM, Anonymous LongIslandLost said...

The war in Iraq is doom and gloom. Mounting foreclosures however, are good. Foreclosed houses will become the new low-cost housing that Long Island so desperately needs. And, the people paying the price are irresponsible banks and irresponsible people who worked together to bid up the price of housing to the point where responsible people could not buy.

Long Island factories, restaurants, hotels, and other companies should be filled with employees that can afford housing for their families.

I am happy to know that some of my tax dollars are devoted to providing housing assistance for the poor. But, it is even better if irresponsible banks and borrowers are forced to pay the price to bring housing to affordable levels. Then, the tax dollars that are saved can be devoted to education or health care.

 
At 11/19/07, 11:58 AM, Blogger Bethany said...

Yes, in the long run, mounting foreclosures are good as they will provide lower cost homes to the next generation of buyers. In the short run,however, it is sad to see so many families being displaced and feeling so hopelesss.

 

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