I know many people who put their bread on the table in the Residential Housing Market and Commercial Real Estate. I know, what I like to call, Slum Lords who have a bunch of rental property. I’ve spoken to all of them recently, and they all say “I’m fucked”. These people have, in the past, made a decent living…not any more. They’re really really really worried. They can’t sell anything…no reason to buy anything because they can’t sell it. They all say they’re in trouble. All of ‘em. These are good people who are accustomed to making a fairly good living and being able to provide for their families. They’re all thinking about a plan B. What I find interesting, from talking with them, is that they tell me people are starting to “commune up”. People and families, are starting to “move in together” to save money. I’m not certain it’s localized to Housing, because I know many people who are in High Tech stuff who are in the same boat. No more state-of-the art development happening in most small companies. It’s a huge sacrifice, but people are doing it. The times are a changin‘. I never thought I would see this in my lifetime, but you never know. Many young people are coming out out of college with degrees, or advanced graduate degrees, and they can’t find a job. They just spent a whole bunch of money on an education, and they can’t find a job. Something is wrong with the current management. We do need some “Change”, that is for sure. The fact is: most of the college graduates…don’t know shit. That’s a problem with the teachers and professors, who don’t know shit. The majority of them are socialists who believe in tenure. They’re set, so they believe they can dictate their beliefs to the young…and, sadly, the young believe it. A few days after the attacks on 9/11, I played golf with the head of the Political Science department at a local university. He said, “the attacks were great…Bush got what was coming to him…I came out here and played another round in his honor.” Sick motherfucker, he is. Anyway, I left his coward left socialist ass on hole number three. I almost caved his head with my putter. He saw that. I saw him in the grocery store recently, and he broke for a different isle. Its been years, but he was scared I still had my putter with me. Fucking coward ass pussy sidewalk licking dirtbag. Remember, this guy is teaching young Americans.
Anyway, if you grant someone a loan, encouraged and sponsored by the government, which you know they will never be able to repay…you ARE THE PROBLEM. The government doesn’t care…they just want the cash. This is a HUGE mess.
I’m serious, every should have an alternate plan.
It is what it is.