The DEATH OF SUBPRIME?

Kenosha home sales are down by 28% over last year. Kenosha real estate sales have softened. You can buy a home in Kenosha for pennies on the dollar. Ralph Nudi is the foreclosure expert in Kenosha, WI. You can by under priced homes in Kenosha County by working with Ralph Nudi. Call Ralph Nudi for more information at (262) 997-0668. Ralph Nudi is a Realtor and Co-Owner of Weichert, Realtors - Unum Properties.

The USA TODAY had several articles on March 15 calling for government intervention of the subprime mortgage lending industry. My only question is WHY?

The recent turn of events proves one thing...Capitalism Works!

The evil mortgage industry and the housing industry kept the US economy going when every thing else was dying. Now the industry is being demonized by the press.

We are in for a bumpy ride in this industry. When the TECH HEAVY stock market was going up with no end in sight, there were many late comers to the game who thought they were smart by buying stocks. The least intelligent among us could appear to be "Carnac the Magnificent" just by picking a tech stock. Eventually that bubble burst. Does anyone remember all the talk about the BILLIONS of dollars of wealth lost when the stock market went down, and peoples retirement accounts (401's etc) lost value?

During that time, those that were "house rich" had the booming real estate market as a consolation.  Real estate became the new "TECH STOCKS". As the psychology of any market, most people follow the crowd and as a result never experience true wealth. I would not be surprised to find many of the same fortune seekers that lost money in the tech sector are no loosing in real estate. This is the magic of capitalism, it is a survival of the fittest economy. Although we have a social responsibility to the impoverished, and to make sure basic human needs are met in this country, we are under no obligation to protect people from themselves. We are a nation of equal opportunity and not a nation of equal outcome. Yes it's true the wealthy tend to get wealthier, but that is a function of their superior understanding of how to create wealth.

Perhaps instead of pressing for government every time the masses decide to do something stupid, we should be pushing people to educate themselves more on how wealth is created and kept.

In the mean time, I will be working with investors who understand that the current is nothing but an opportunity to acquire property "on clearance" to later sell when real estate becomes the "in thing" to do again.

 

Ralph D. Nudi

Weichert, Realtors® - Unum Properties

www.RalphNudi.com

 

Ralph D. Nudi

CEO

Success Realtors

 

Comment balloon 4 commentsRalph Nudi • March 16 2007 01:29PM
The DEATH OF SUBPRIME?
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Kenosha home sales are down by 28% over last year. Kenosha real estate sales have softened. You can buy a home in Kenosha for pennies on the dollar. Ralph Nudi is the foreclosure expert in Kenosha, WI. You can by under priced homes in Kenosha County… more
Today's Kenosha Market
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The statistics just came out today for the latest Kenosha real estate sales statistics. The numbers show what while there has been a study decrease in the number of homes sold, there is a steady increase of new listings. This information… more