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Monday, April 9, 2007

The sky is falling! The sky is… The…

Since 2002 I have heard nothing but doom and gloom about the real estate market. First it was, “I’ve never seen a market like this!” Then it was “This market can’t last, it’s a freak market!” Of course they all said it was interest rates that caused the surge in activity and that would soon change when rates went up. Finally, it was “When do you think this housing bubble will burst?” For years it seemed we talked about nothing but the bursting bubble!

I have advocated all along that there was no bubble at all and that the “housing boom” was being caused by traditional market conditions like supply and demand, rising expendable income and job growth. And while many said it was low interest rates, I didn’t agree.

Now, in 2007, we see that it was never interest rates and it was indeed growth! As a matter of fact we had so much growth that the FED has tried to stymie the so called “excessiveness” of the economy so inflation would not rear it’s ugly head. Personally, I think they almost killed the golden goose with their efforts, but that is not the worst to come out of this madness.

I can understand people who want to manipulate the course of events for their own gain, after all that’s what most sporting events are about. Of course they can’t cheat, but, a good team will try to make the other team play a style that is uncomfortable or psych them into doing something that will give their team an edge.

But this business of manipulating the course of events for spite and vengeance is not only mean spirited but it is downright low-life and un-American!

I think that is just what has happened! Since 2002, most of the liberal media have been saying things like, “the housing bubble will soon burst”, “this bubble can’t last”, “some markets are going to be hit harder than others”, and “will you be ready when the bubble bursts?” They can’t stand prosperity, especially when it comes on President Bush’s watch.

Mr. Bush is in their eyes corrupt, contemptible and illegitimate. They have tried to discredit him and anything he has been associated with since the 2000 election. Remember “all the votes must be counted”? Well, the liberals are still very bitter.

Liberals have blamed George Bush for everything from the Iraq war, to the Gulf Coast hurricanes, to the Europeans hating us, to the corruption in government! It’s all George’s fault!

Now, the media’s vengeful ways have glommed on to this “real estate bubble” thing and have run it into the the ground! The result is the doom and gloom pundits have come close to winning the fight – the bursting bubble has nearly become a self fulfilling prophecy! They have single-handedly caused a real estate freeze! Buyers in America are scared to death! The home buying public wonders if the bubble has indeed burst? Or, is the worst yet to come?

Some home buyers say that they might just wait until next summer, or even wait until after the election to make that home purchase. Surely we will have seen the bottom by then, they say. Others are not so positive. They are sure the bottom will fall out of the pricing soon and we will definitely see a recession or even a depression!
I say BUNK!

I say, wake up and smell the coffee America! Stop listening to the left leaning media and do your own research. Look at home pricing in your own neighborhood. You will then find that prices have appreciated at the rate of 20% per year or more in some areas for each of the last six years! That’s a significant increase in value!

Even with all this doom and gloom we still have the regular, normal rate of appreciation at 3-4% per year right now, in early 2007. This market hasn’t gone away. There was no bubble! People are just scared to death by the media’s constant nay saying and are just staying put.

Remember, we’re in a global war with terrorist dogs that will stop at nothing to kill us and want to destroy our way of life. They want to shape the world in their own vision or die trying. I say OK, fine – let me help you die! But this war on terror doesn’t have a direct effect on the value of real estate unless they actually bomb San Francisco or LA or Chicago or New York, again!

Fear does not control pricing unless you let it! Let Mr. Bush and the troops do their job and the terrorists will be stopped. We need to do our job and be concerned with our everyday living and continue to support the US economy and support our position in the global market place! We need to continue living the way we always have! The American Way!

We can’t let the nay sayers and the prophets of doom and gloom control our lives. It’s our money and we have the right to invest it how we want. For me, I want to invest it in America. I want to invest in American homes. I’m ready to sell the one I have, buy another and fix it up nicely, then, do it again!
American real estate – the best investment in the world!

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