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"Let's Get Chicken Little"

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Let’s Get Chicken Little

by Dean Hartman on July 7, 2011 ·

You all know the story…young chicken, fearful of the worst, runs around declaring that “the sky is falling, the sky is falling”.

In today’s real estate market, there are many people (professionals and amateurs alike) with opinions that make buying real estate sound like throwing money away.

One thing I have learned in life is that opinions are like belly buttons, everyone has one. I certainly have my opinions which  are not always universally shared. But, I wanted to share mine today by asking those of you Chicken Littles some questions:

  • If we all agree that homeownership has been the American Dream, what do you propose will replace it? Video games? iPads? A better social media vehicle? Without a dream, civilizations perish.
  • If people stop investing in real estate and values crumble much further, how do you propose stopping our economy from a complete and utter collapse? Moreover, how will it ever recover?

Let’s face it: The real estate frenzy got us into this mess, in the same way that the dot.com bubble overinflated the stock market and eventually popped. But, dot.com companies were only a part of the stock market; therefore, the market could take a hit and limp around for a while yet still fall back on the other industries to regain its footing. It has taken years, but the stock market is credible again.

Real estate is different. When it slides, there is no other sector of the economy that can bail it out. You could try and argue that commercial real estate or even real estate investors who buy and hold for rent can ease the pain. However, they can’t devour all the inventory. Real estate has to be salvaged and supported by the government or the whole economy slides into the ocean.

The government has tried many things from restructuring Fannie Mae and Freddie Mac to appraisal reform to tighter underwriting guideline to artificial manipulation of interest rates to licensing of loan officers and more. They understand the importance of real estate values to our nation’s net worth. They are committed to real estate.

My point, dear Chicken Little, is that if you believe that the United States of America is going to continue to lead the world, you know our economy has to lead the way.  In order to do that, we need housing to recover its position of strength.  That makes buying a home a safe, long term smart move. If you don’t believe it…..might be time to look for real estate in another country.

The problem with Chicken Little is nothing more than he doesn’t ever propose a solution. He just wants to predict and point out problems. Our faith in the American Dream is being tested. I believe in the Dream. And I think you should too. It may look like a leap of faith more than logic to some but there are few Chicken Littles who ever become wealthy until they change their perspective.

Just my opinion…from my belly button.

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Tagged as: Dean Hartman, Homeownership

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One Comment Post a comment
  1. Montana #

    You know what this current crowd of GOP liars want is to turn the United Sates into China, where only a few giant corporations run things, they own the factories, the apartments, the grocery stores, the gas stations, the newspaper and magazine publications, the radio stations, the television stations and you pay them and they get all the benefits, and if you do not like it go jump off cliff. Well some Chinese workers seeing that as individuals that they cannot progress have done just that by committing suicide.

    The current crowd of GOP liars want to steal Medicare from the elderly, they want to abolish a woman’s right to choose and have control over her own body, they want to abolish collective bargaining rights for our Unions, and on top of it all they want to blame the poor, the middle class and the public sector workers for a recession that the GOP created (Thanks to the Dullard “W”), while their beloved “Fat cats” continue to pay themselves exorbitant salaries, bonuses, fringe benefits.

    The GOP is like the “Chicken Littles” always saying that the “Sky is Falling”, like the same ones that were the “Chicken Hawks” (“W” Wars), big talk no courage.

    The United States, favors creativity wherever it can be found. We’re apostles of prosperity and defenders of the free exchange of ideas and when more people in more countries are free to rise, to invent, to communicate, to dissent, it’s not the doom of United States leadership, its the triumph of the American way.

    Generations have worked hard and sacrificed much for the country to reach this point (individuals and our Unions that represented our poor, the middle class and public sector workers), and with further hard work and sacrifice (along with our relentless self-doubt) the United States will rise again, we do not tire and we are coming back, no matter what Fox news and their GOP “Chicken Littles” lackies keep saying about our nation. The win in New York was the beginning but the next will be Indiana, Iowa, Kansas, Michigan, Ohio, Wisconsin and later the other states of our nation, Never Bet Against the United States, watch out GOP, we are coming for you!

    July 7, 2011

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