Obama Foreclosure Plan

 

 

What is going on?

 I have had some time to take all of this in today and have really put some thought into what is going on in our country.

The Foreclosure plan will be able to slow things down and not allow the market to completely implode, at least for now, but I am still at odds as to if that is a good thing or not. My biggest fear is that we are putting off something that is going to happen anyway. We might just need to suck it up and suffer through this.

If we look at this on a global scale, the entire planet is in economic meltdown. This means that we must come up with a plan on our own, as there is nobody else out there that can help us.

This leaves America with few options. At this point I would assume that we will just print our own money. Since the rest of the world is sinking with us, it is probably the best time in history to fire up the presses! While I am not an economist, it would seem that this measure would not create near the pressure on the dollar as it would if the other parts of the world were thriving.

The cold hard truth is this: We as America have some really bad habits!

Many people might argue this with me, but I do not believe the vast majority of folks in foreclosure are irresponsible, but more a victim of the down market, government pushed loans, and the “instant gratification” conditioning that our society provides. That said, I do not believe it is the role of government to come to the rescue either.

Trying to find some positives in the Investment Real Estate Markets:

The good news is that Fannie Mae has increased their loan limits to 10!!!

This tells me that the politicians do understand that investors are a big part of the solution…but, we also know that there is NO WAY these elected servants can say this in the public square without being persecuted for it.

While I do not believe this foreclosure plan brings much to the table in terms of a solution, I wish it nothing but success. My concern is that too many people will try to get help because they can, not because they really NEED it.

At the end of the day, we as American have dug this hole, and we as Americans our going to need to climb out of it. There comes a point in time when we need to step up to the plate, turn off American Idol, and take on more responsibility. Only then will we change the habits that got us here in the first place.