Daily the media is filled with more and more bad news about the billions of dollars being lost because of the mortgage meltdown mess!
Just how did we all get into such a tragic financial situation?
Ralph Waldo Emerson once wrote a long time ago, " Property is an intellectual production. The game requires coolness, right reasoning, promptness and patience in the players."
He also wrote," As soon as a stranger is introduced into any company, one of the first questions which all wish to have answered is, How does that man get his living?"
"And with reason. He is no man until he knows how to earn a blameless livelihood. Society is barbarous until every industrial man can get his living without dishonest customs."
Wow! Finger pointing will not clean up our present situation. Like it or not the real estate industry and business will suffer the lasting consequences for some time to come.
What would help right now, and for the future, will be lots of " right reasoning," and by all.
And we'll need a great deal of patience until we can all get moving again, on a normal and sane real estate business footing and with "honest customs," especially from Wall Street, governmental regulators, banks and financial institutions.
Bill McInerney
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