The Ripple Heard ‘Round the World
I think it is commendable (in most cases) when people see challenges as opportunities. Unfortunately Mr. Bush always sees the economic challenges facing the USA economy as another opportunity to enrich his friends and supporters. His stupid (sorry, that’s the best way to describe it) economic recovery plan has so shocked financial interests around the world as to cause all of the financial markets to shrink in horror.
I hope this does not make me look as horrible as George Bush; but I also see this challenge as an opportunity to enrich my friends. I realize that I am basicly powerless to control macro financial events. I cannot change the wind. I can change the set of my sails. Ever since George Bush came to office we have had one stock market crisis after another. The reduction in yield and increase in price of real estate is a direct result of the fear of loss generated by uncertainty in the stock market. The current stagnation in the housing market in the USA is a by-product of stock market events. Commercial real estate prices seem to be holding up pretty well.
I recommend (in most cases) that any one who owns commercial or international real estate right now should hold it and buy more. The price can only go up as the stock market gets scarier and the world population grows in number and affluence.
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
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