- Feb 12, 2000
- 10,652
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With everything in the news these days, it's really hard to have this attitude. But I think, in general, things are really much better than most people think.
I'm ready for a new team in the white house. And at this point, I don't care if it's Republican or Democrat. I don't think Bush & Co. did as poorly of a job as most, but there are plenty of stats and statements that could be made to the contrary. C'est la vie.
I think the sub-prime mess is controllable. Unfortuantely, there will be hard working individuals left in the wake of this mess. But I think we, as a country, will get through it.
What strikes me as odd is this. I think big banks are in postion to make absolutely HUGE profits on this short-term downtrend. Small, regional banks collectively have a large number of assets which are currently extremely depressed from their highs. Big banks are going to come in and basically steal those assets at pennies to the dollar, imo.
I also think that by the end of the year, our real estate market is going to back on track in a big way. Not every area is going to have a full recovery, but I think for the most part we are going to be in good shape.
We also can't compare how much people have "lost" on houses by comparing the value during the extreme bubble we just travelled through. That's like saying Pets.com was really worth several billion at one time. Nope. Not true.
So bottom line from my perspective is that I think we are going to be in great shape in this country over the next 12-18 months. We have some cleaning up to do, but overall I'm feeling pretty positive.
I'm ready for a new team in the white house. And at this point, I don't care if it's Republican or Democrat. I don't think Bush & Co. did as poorly of a job as most, but there are plenty of stats and statements that could be made to the contrary. C'est la vie.
I think the sub-prime mess is controllable. Unfortuantely, there will be hard working individuals left in the wake of this mess. But I think we, as a country, will get through it.
What strikes me as odd is this. I think big banks are in postion to make absolutely HUGE profits on this short-term downtrend. Small, regional banks collectively have a large number of assets which are currently extremely depressed from their highs. Big banks are going to come in and basically steal those assets at pennies to the dollar, imo.
I also think that by the end of the year, our real estate market is going to back on track in a big way. Not every area is going to have a full recovery, but I think for the most part we are going to be in good shape.
We also can't compare how much people have "lost" on houses by comparing the value during the extreme bubble we just travelled through. That's like saying Pets.com was really worth several billion at one time. Nope. Not true.
So bottom line from my perspective is that I think we are going to be in great shape in this country over the next 12-18 months. We have some cleaning up to do, but overall I'm feeling pretty positive.
