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First Time April 2, 2009

Posted by mstand in market conditions, real estate, Uncategorized.
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First Time
This is my first time blogging. Though I have spent more hours than are productive reading other peoples opinions.  My first career was in high tech sales and marketing. After riding that horse through the glory days of the rise of Microsoft and the dot com bubble, things suddenly came to a screeching halt. The unthinkable had happened. There was not any more investor cash to burn on great ideas like Home Grocer.com. I learned two concepts from the dot com era–”the next big thing” and “underwater.” And what was the next big thing after the dot.com bust? Real Estate of course. So here I am again, at the end of another bubble. I look back at the dot coms, Enron and WorldCom as just a warm up for what faces us now. The tech boom was mostly about spending large sums of money trying to create “the next big thing” Welcome to the future digital world .Even our Government tried to take credit for the internet phenomenon. Who could forget Al Gore running around the Microsoft campus with a PDA holster strapped to his side? But the “next big thing” does not have the same connotation in 09 that it did in 00. In 2000 people were betting on the “next big thing” now they are betting against it. “Underwater” certainly has the same connotation. One could be even more dramatic and refer to it as drowning. Government solutions to problems that do not include common sense and practicality always amaze me. I am sure you have had the same thought. Take overspending for example. We all admit most of us have too much debt. What are the conventional methods for dealing with loans? Either pay it off, restructure, refinance– most popular option– or take a loss, write off, declare bankruptcy. Why does this seem too complicated for our politicians to do? There always is a different agenda that appears to trump commonsense. Natural disasters occur. Things burn down and are rebuilt. How many small businesses could be spurred from the breaking apart of a large bank? Maybe our society will go back to the model of having many smaller business serving people instead of large conglomerates. But the real barometer of recovery will be when all of us start to reduce or eliminate our debt to the level that we feel comfortable making investments and taking on payments again. Then the economy will begin to grow-albeit at a more cautious pace. Don’t wait until 2010! Let’s start now to rebuild. Eliminate your debt. Then we can all pursue the “next big thing”. If you want to comment on ways you are accomplishing eliminating debt or restructuring, I would love to hear it.

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Comments»

1. kimberleylynn - May 19, 2009

Mark! Excellent post…. I think so many people in this kind of market are living in fear. They think life is supposed to be a certain way, and either have been trying to “buy” it, or have the “keeping up with the Jones’ “mentality. Now everyone is looking around and finding out the Jones’ didn’t really have everything either. I see so many people in dire need right now of just taking a real honest look at where they are financially.
” Don’t wait until 2010! Let’s start now to rebuild. Eliminate your debt. Then we can all pursue the “next big thing”.
I love that comment…. its not going to pay itself off! Sometimes we just need to swallow the pride, realize its going to hurt for a little bit, and just start chipping away at saving and paying things off…….


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