The Chenore Real Estate Group hopes you all had a relaxing and enjoyable Labor Day Holiday weekend! I was struck on Monday, while watching the evening news that Labor Day can have different meanings to so many people. As I write this, unemployment in this great country stands at just over 9.4% Nearly 10% of the people in this country don’t have a job…That number is low when factoring in the UNDER employed-Those skilled workers who lost a credible job in their chosen field to find part-time (at best) work outside the field they desire. How can this be?
I have said for many, many years…When I get a flat tire…Some guy wearing blue needs to fix my tire for me and THAT guy deserves to own a home too! Home ownership is becoming more of a luxury rather than an obtainable goal. It’s almost becoming a status symbol just to have a home. Too many were caught up in the mortgage meltdown…Too many were disenfranchised by mortgage brokers pushing hybrid loans with the promise of appreciation and the ability to refinance out. The correction is behind us and yet we still see home values dropping. Statistics say the vast majority of Americans count on the value of the home they own as MORE than 70% of the savings they’ve compiled for retirement and that’s all but gone! NOW what!?
What is the housing market going to be like in 6 months? 1 year? 2 or 5 years? A generation? I don’t know…But I do know that as long as I have a job…I’ll be thankful! I’ll also be respectful of those who may have lost one, or are struggling to make ends meet, or can’t afford health insurance, a meal for their children, a new car, a vacation house, new clothes, a new bike…Yes, Labor Day indeed…Means more than pack away the white pants. I want it to mean let’s all get to work! Let’s all do things that will help OTHERS get to work! Let’s buy AMERICAN cars and food and clothing! Let’s buy American stocks on the NYSE!
Sitting at lunch today, the table next to me was discussing real estate “deals” and how unless the deal is too good to pass up, they would pass it up. Too good to pass up to me, means someone is down on their luck and giving in while standing by watching and waiting is someone ready to take advantage. They should be ashamed! That’s just ugly. Every once in a while a great deal will present itself, sure…But to only look for those and pounce!? It’s sickening. Naturally I focus on housing as my chosen career path is real estate sales and leasing. I enjoy helping people through the complicated process of buying and selling the homes they own or want to own. I tell anyone that buying real estate is still just as good of a deal as in the past. (Better if you factor in the cost of money and the acquisition costs being lower) People-You don’t have to steal real estate, you just have to buy it!
And if you’re sitting in a chinese restaurant with your Kung-Pao and wonton’s discussing deals that are too good to pass up, maybe you don’t even know what a good deal is…TO BE IN AMERICA-TO BE the one in a chinese restaurant with your Kung-Pao and won-ton’s…What’s next? Oh, Halloween…Don’t get me started!