Wednesday, January 23, 2008

"Wake up Toto, we're not in Kansas anymore!!!"

Greetings all, I trust that your New Year is off to a great start.
My apologies for not posting as much this month, it has been very busy indeed in the New York Real Estate Market. This post will give you an idea.

Which brings me to this point of this post. So there is all of this talk this week about the current state of the economy. I like to call it the Holy "Market" Trinity. The job market, stock market and the housing market . Personally, because I live in NYC, we are somewhat insulated from the rest of the country from these issues and so the only thing I can see in all of this talk, is a lot of fear. It has never been an emotion that I encourage, but it is a very basic and common human emotion to fear something which is unknown.

First things first, the job market. I have had more "jobs" by my thirtieth birthday, than most people might have in a lifetime. From experience, I can say that the job market is usually volatile when a Republican is in office. I am not endorsing any particular party by saying this. I am merely pointing out the facts, as history will show. When I look back over the thirty plus years of my life and the subsequent Presidents in power, there is a direct correlation between a "good" economy and a "lean" economy. The overall cost of living and the rate of income are so askew, it is somewhat pathetic and appaling. I recall reading a study stating that the average American has a MINIMUM of $15,000 of debt. This is clear when you realize that the AVERAGE American is also making around $37,500 per year with living expenses in most places averaging above $25,000 per year, what can most people live off of or expect to save?
The bottom line in this respect, we must all educate ourselves consistently in order to go out and do something useful and self sustaining or at the very least, always in demand. The more you know, the more you grow and thus the more you can expect to make some more dough! If you sew good seeds, then you will reap good fruits! If you are content with just getting by, then this all is not a concern to you, as you will just get another "job" when you are laid off from a company downsizing. We all make our lives and nothing happens to us by "chance".

Secondly, the stock market. Now this is not my area of expertise, but I did work for The Street.com and another Financial Consulting firm, so I have some knowledge of this field as well. I have always viewed the stock market in a similar vein to Poker. Now some people will say this is very true, as both involve a certain amount of luck. I have never really believed much in luck in the common sense. I feel that we all make or create our percieved luck by being prepared. When you are better prepared, you stand a better chance of being successful.
While certain things are always out of our control, being prepared is the one thing that IS in our control and can help us minimize the "helpless" feeling we sometime call being "unlucky". While no person can predict flawlessly what stock will rise and fall daily or dramaticaly each quarter, by being abreast of current events, the world climate or even more simply, changes in economy, politics, spending trends and the like, we can have a better idea of what stocks will peak and fall with a greater idea.

Lastly, the Real Estate Market. Now, look at the exact title of my current area of expertise. There is something very true and powerful about the verbatim of the term. Owning a home or apartment is owning a REAL ESTATE. It is not an intellectual property, like a song, story, movie or book. It is not an asset, like a stock investment, savings bond, CD or other financial investment. It is something REAL and tangible. It can be appraised and valued, usually with an increase over time (especially in NYC).

That brings me to this in closing, the changes we see happening in our city, state, country and the world, are constant. The one thing that is certain is that people will always need housing. here in NYC, that is an extreme understatement. People are lining up for housing here!

You know who I am and what I do, so take the first step and get in touch!

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