Oct 9, 2008

Amazing Times….. TO BUY

Amazing times. Stunning.

The country of Iceland possibly going under.

US and European governments jumping in to “free markets” with both feet.

The Dow finishing down another 7% today. (I personally believe the S&P 500 is a more relevant metric than the Dow, and it was down more than 7.6%).

Some talking about China as a potential lender to the world… China !


What does it all mean?

…..I will ask Bobby when he arrives on Tuesday.

Bobby is flying down from Canada to look at property near Sac State . He’s looking for a deal on investment property that he will turn into rentals. Jeff and I are going to take him out and help him with this quest.

If a family from Canada thinks it’s time to buy real estate in our area… and if the other dozen or so families we are working with are also charging ahead full blast… perhaps the macro-economic environment isn’t as crushing locally as the media suggests?

Sure – just like all of you, my 401k is 6 feet under. But Warren Buffett (a personal hero) has a saying: “When people get greedy, it’s time to go (sell). When people are running in a panic, it’s time to jump (buy)”. I believe Warren . I practice what he preaches. The other day when the Dow lost 777 points? I bought stock. I wish I had the funds to do it again today.

I genuinely believe the same is true in today’s real estate markets. If you can buy, consider it.

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