There is such a disconnect in the housing industry, and the economy in general, and a lot of people seem to be throwing in the towel after the first few rounds., or worse, they’re afraid to get in to the ring at all.
Look, Southern California real estate has always been a champion. It’s always been a winner. If we personify Southern California, it would be like a prize fighter who never lost a bout.
Look at the record. Nothing but knockouts and TKOs through a schedule of opponents that have had a great repertoire of punches that included numerous recessions, wars, economic downturns, stock market crashes, gas wars, you name it. Our fighter, Southern California Real Estate, has always come out on top.
Well, now we are in a 15-rounder with the toughest opponent we’ve ever faced since the Great Depression. This opponent is one mean… (fill in the blank). Its punches include quick jabs of rising gas prices and inflation, a big left hook called foreclosures, a round-house drop in home prices plus, and it seems this “ X%$#@” has the endurance to go 15 rounds. It has been is called The Great Recession, and like I said it’s a mean one!
Normally, our guy only has to go two or three, maybe four rounds before overcoming an opponent. We did it in 87 with the stock market, and we did it again in 91 with a big brawling recessionary opponent that took a lot of pain to overcome. But now…now we’ve been at it for a bunch of rounds. We’ve been dodging the jabs, ducking the hooks, and fighting to stay on wobbly legs. Make no mistake; our opponent has landed some big punches.
The banks and financial partners in the corner for Southern California Real Estate have been trying everything to stop the bleeding, but a lot of what they are doing is not working. It seems our vision is getting a little blurry. We could use some help!
Or maybe just a good Rocky-like theme song! (Cue the music)
I, for one, am still betting on the champ. A lot of you have written him off or hedged your bets with stocks and metals. That’s fine, but I think there’s a big pay off coming. A couple of good body shots to counter the defaults, some good economic news to block the bad attitude of investors and homebuyers, and some help from the banks in our corner! Hey banks, it’s a loan application. Not a loan inquisition!
Here’s the deal. There’s no big pay off unless you make a big bet. I’m betting on Southern California Real Estate to knock this opponent out of the ring. When that happens, it will be too late to make your bet. Think about it, and let me know if you want to back a winner.