“Can I Please Have More Pie?”
“Can I please have more pie?” should be a question that you ask a parent after dinner and not a financial professional. It can get you into quite a jam! How did the economy get into this mess? Well, I think we all know the answer to that – greed from some financial institutions and our “eyes being bigger than our stomachs” thinking from consumers. So what happened as a result? Loan defaults led to financial crises, such as foreclosures, deed in lieu of foreclosure, short sale, and bankruptcy. As a result, these financial distresses led to loss of homes, jobs, poor credit and other “sticky” situations.
However, there is evidence eluding to the nation coming out of a recession- the unemployment rate is decreasing, more job creation (“green jobs“), and real estate trends are improving (even a year after the tax credit ended). March 2011 was awesome, and my real estate transactions are picking up. Buyer confidence is back and consumers are making smarter choices with spending. About three years back, though, home buyers and financial institutions were thinking differently. Now, lots of people are having to rebuild their lives along with their credit. The good news is that there is hope and help.
Like I said earlier, things are looking positive even though we still hear conflicting “headlines” from the media. Remember, I’m not blogging to sell papers or to get ratings. I’m being truthful and giving you the facts. I want my clients and consumers to be able to make educated and informed decisions. Always do your research and look to someone you can “trust.” My next blog will be about restoring credit and moving forward. I will also touch on how we can make better financial decisions (at some point in the future) and pass them on to our children. They’re always watching! Until next time, be blessed!
- Five Financial No-Brainers (turbotax.intuit.com)