2009: Optimism for the People

So here we are again, looking at the glass half-full and thinking about what a year 2008 has been in terms of reversal of fortunes and a breakdown of the economy due to restricted credit.   Sure home prices have dropped to levels not seen since in years but some markets have held up fairly well, and now opportunity knocks as some markets have prices too good to pass and the 30 year fixed rate mortgage averages in the mid 5 percent range, near record lows.

Americans are forced to think before they spend and how they spend.   The consumer credit spigot has been shut and that may have been a mixed blessing for America.   We have given ourselves away for low prices at the shopping districts, but at what cost?   Manufacturing jobs were lost for service jobs, but even those have gone abroad.   Even that phone call to the service center ends up in India.

America has its greatest strength in its ingenuity.   Our universities are filled with applicants outside our borders.  The great technological advances have stemmed from our country. Not India, China, Viet Nam, Mexico, or Timbuktu.   Remember that.

Not everybody needs another widget, but they need shelter.   A home that is owned is a great basic investment in one™s self.   A home will build equity.   In this calendar year, renters lost money by giving it to the landlord.   New homeowners may have merely taken a deferred loss in equity until the day they sell.   That will be a day of reckoning.

Take advantage of lower prices and lower mortgage rates if you have not already done so.   This is the golden opportunity all first time homebuyers have been waiting for.   Get pre-approved for a conservative loan and get together with a reputable Realtor.   Hire a real estate attorney to finalize the transaction.   Make it happen while the masses are still reeling from the past year.

Make no mistake.   We have the ingenuity, we have the capital, we have the tillable land, we have military might, and we have the work ethic to get it done.   We will persevere.

© 2009 Michael S. Amers

Speak Your Mind