My Recession is Worse Than Yours

Have you participated in a pity party lately?

Have we as an industry,like our country become whiners? Tony Robbins thinks we are emotionally unfit.

In Today's real estate mess Misses '80s Mark by a Mile, the author illustrates why this isn't as bad as back then. You can also make the argument that back then he was in Texas and that was one of the hardest hit real estate environments, while today it is one of the most stubborn markets. But what does that argument or his do to help?

Everyone, has it a little better, a little worse. Even here in Cali. I can remember being told that the unemployment rate was being cooked and it was closer to 20% back in the 80's. All the aerospace jobs had left town it seemed.

People literally had to reinvent themselves. Many of my friends, and myself included benefited from that "season". It was hell going thru it. In many ways it was worse than today, better in others. But tell that to the guy facing foreclosure or bankruptcy. They always need to bring that up don't they.

But what does that matter?If that person is you, or isn't you?So what.

There were more millionaires created during the Great Depression than ever (until the dot com boom, and a million was a million back then).

I know a guy who was broken from the late 80's, early 90's real estate bust. He decided to syndicate some guys with cash. He found the deals for a piece of the action.

He didn't really work during the last run up. He didn't have to. His cash flow from his "BK" set him free.

Comments

[Jeffrey Owen]

We do a ton of inspections for investors and foreclosures. Seriously take a hard look at the homes inside and out. If they do not pay the mortgage what else did they not pay for.

Jeffrey
IonHomeInspection.com
Houston, Katy, Sugar Land

[Andrea Mills]

What is there to whine about? Yes, I will be losing my house, my husband's business has gone belly up, we turned in our truck and drive my small economy car (it's paid for). What are they gonna do? Shoot us? We're healthy and can go to work every day. The sun still comes up every morning and everyday is filled with opportunity.
Again, what is there to whine about?

[Jeremy]

Even with the abundance of foreclosures, there are great buys on the market if you have the $$$. Looking for resort prop - look in the Rocky Mtns like Aspen and Telluride. I read about it at http://www.tellugramblog.blogspot.com/

[Portland Octopus]

I agree! Although it is unfortunate for the people who are at loss the people who can buy now should.