Our Federal Government has been trying (in what I deem rather flawed attempts) to help our economy BUT some sense has taken over! They will NOT force all banks to have a mandatory moratorium on foreclosures! You CANNOT know how thrilled I am to hear this! Let me run you through my thought process. See, when this whole mess first started, we (as professionals) expected it to take till 2010 for us to dig our way out and see some stabilization. As soon as the government intervened, that thought was lost. Every year I keep quoting longer and longer recoveries BUT if the government REALLY doesn’t intervene anymore, I think we can expect stabilization by 2013, a leveling out of our market that could take 5-8 years and small increases in home prices within 10 years. That all seems SO far away but it was just yesterday that the bad loans started going away (when it was really 2005). I love how many people were able to get into homes during this time. I love helping people that qualify for loan modifications that bought during the 2005-2008 time frame. These people got in while it was easier to get in and, if they qualify for a Loan Mod, they get to keep the house for less per month… way jealous! But I think we need to get back to a normal place in the market and that WILL NOT happen till we get people out of their bad loans, homes that are too much for them, etc and get all of the Buyers that are clamoring for property into homes (and there are a TON of them)! I hope that when you read about Government intervention, that you think of how this slows us down. Think of it like a broken arm. Each time the government gets involved, we’re breaking it again. The arm will heal… in time. Just let it. Just let the broken arm heal on its own. It might not be painless but it’ll figure itself out. Our bodies are amazing the way they can heal themselves and we, as Americans, are no different. We will heal this economy.
I hope ya’ll are looking forward to a nice weekend! I’m in New Orleans and looking forward to UFC 121 (which I HATE because it’s finally back in SoCal and I’m in NOLA)! Spending some much-needed time with my little sister after having my mom out in SoCal last week. Love the family but am really excited for September and October to be over… loved all of the traveling but really want to just relax a bit before the holidays are in full swing! Also, please keep my dear friend and political mentor in mind, Carol Facciponti-Malcolm. She’s amazingly strong but her strength is being tested. I know her and her family will come out on top! AND, a big Congrats to my best friend! She just got engaged! Can’t wait to start planning with her mom! Leave it to me… I’m too OCD for anything to go wrong!