For 7 years I have been hearing the "experts" say that the "bubble" was about to burst. And, as I predicted, it never did. That is not to say that some markets have not softened - many have. But there has been no "bursting" of any "bubble".
But what is new is the pending foreclosures caused by irresponsible lending practices - strange, new schemes developed by lenders to make certain that people would overextend themselves, causing them to default on loans that never should have been made.
And where was the government regulatory banking boys - the ones who are supposed to protect the public from such unscrupulous practices?
If we were to eliminate the foreclosures caused by those poor lending practices, the actual foreclosure rate would not be any higher today than it was over the last 15 years.
The point is, it is not real estate that is in trouble. The trouble is with the unfortunate souls who fell for those lending schemes. Real estate is still sound, as long as sound methods are used, such as those taught in "The Simple Man's Guide to Real Estate" by IntelliBiz.
More important for those who want to profit immensely, many of those foreclosures will become bargains for the investor. We are on the verge of a new wave in real estate. If you do not believe it, consider this - according to the U.S. Census Bureau, the population of the world will double over the next 40 years. Imagine, double the population! Where will they all live? They will need homes, won't they? New businesses, stores, parking lots, roads, schools for all those people will use of land quickly. Those who own that land, or those homes, will be the ones raking in the bucks.
No comments:
Post a Comment