"You're in real estate?
It's been solid in the years before 2007."
I have been very lucky in my area... The maximum price drop in real estate was about 10% and currently we are down about 4% from the 2007 peak. But for those getting involved in creative financing by buying a house with nothing down... or even 10% down... with a 10% price drop if they need to sell or refinance because that wonderful ARM expired... They are wiped out.
I have been able to add some good quality properties in the best locations this year so when the inflation hits these properties should go up in apparent value. I say apparent value because even real assets such as real estate will not be able to escape the devastation that all this money printing is causing.
I've said it before and I'll say it again... Obama is killing the people he is trying to help, they are having a really hard time making ends meet. Those without assets are seeing more and more of their income go to food and energy. Those with real assets are seeing their stuff go up in "value" so the divide is getting wider every day. Just look at the recent activity by Bernanke... this is devastating the poor. Later when the $hit finally hits the fan, the republicans will again be blamed for the result that the current administration is causing. The greedy bank CEOs will continue to be vilified for accepting all this money that is being printed. We really need to get these people educated so that they can make better choices in life and also become gainfully employed. Giving them money doesn't solve the basic problem, they need to make their own contribution and learn to make decisions that result in a better future. It's going to take a long time to turn this around and realistically will never be fully implemented. There will ALWAYS be people that need help... We should help them and at the same time weed out and cut off the free loaders, they are making less available for those that need it.
You can help... vote for politicians that don't advocate the free lunch and the "redistribution of wealth" ( socialism ). Vote for politicians that don't cave in to the teacher union demands in order to get re-elected. Require better education results. Vote for "right to work" rather than requiring non-union employees to contribute to the union coffers even when they don't belong to the union. All that does is fill the bank accounts of the union leaders that are part of the problem... sucking money out of the economy without making a contribution. Vote for things that result in people working for what they are being paid rather than getting stuff for not working. Vote for less money going to Washington... they waste most of it. The economy will get better when people are working... Not when the government is giving them money that was created out of thin air.
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