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Tuesday, October 7, 2008


I say baloney.

I say that the finanical panic and crash has very little to do with real life. I say all the headlines, media, gov't officials and the like scaring the bejesus out of us are mostly wrong, and all us normal people not dealing in commerical paper, financial ponzi schemes, get rich schemes, and short term bonus' for longterm disaster schemes are actually not too bad off. This past week I borrowed a bunch of money from my bank to continue building the 6 homes we have in contract, looked into buying a new truck ($7500 off sticker, with incentives) and received a credit line increase from Bank of America. Banks are lending, don't be fooled. Just the rules have changed - you got be qualified, you got to have good credit, and a steady job doesn't hurt.

What I haven't seen is a denial of credit, a reduction of my line of credit, non-existent auto loans, etc... Forbes has an article out stating more bank to consumer lending occurred in Sept '08 than Sept '07. So what gives - the statistics don't even show we are in a recession.

We definitely live in the era of hysteria and catastrophe. It's what sells, it's the new 'sex' (playing off the old adage that sex sells). Hysteria and catastrophe is the quickest way to the bank for many industries.

So what does this mean to me, and my customers - I'm smart, and they are smart, and with our team of good attorneys, good banks, houses full of value, adequate comps, and well-qualified homeowners - I only have one thing to say to all the end of worlders -

Eat my shorts. Life goes on.

And if you got the dough, its a great time to buy something, or build something, because all the cocky salespeople and customer service reps are working harder than ever to make sure your process and purchase is satisfactory, and to anyone who has consumed or purchased anything over the past 24 months, it's a great change.

The world has righted itself -