I have fairly vivid photo memories of things that happened in my life from about 5 years till now, missing a month before and after I had a flat lung that took away my memories for a short period of time, thanks to the Higher Power.
The main thing that I noted was that when I graduated High School in 1978, time got faster and faster until today… and I look back as to how much crap I got myself into including 2 families and so many businesses, I wish I did not remember 1/2 of them.
I think that I know the reason why. When we are young, our Parents dictate what our day is going to be. They determined how we dressed, who we played with and we had no choice. Due to the external factors that controlled our inner selves, time went slowly as we were looking at the clock much more.
Once we were old enough to be integrated into the Kindergarten through 12th grade… for those of us that graduated High School. For those of you that don’t know it: no school wants to fail even 1 student as it reflects poorly on them. Many children that should have failed had help passing by making the final grade a pass by a Principal or pressure put on the Teacher. So, if a child was left back a grade, or did not graduate Junior High School or High School, the School System did not have much to do with that. If the student would have showed up every day, even not doing homework and poorly on tests, they would pass even with a “D.” I don’t think they use: A,B,C,D,F…. anymore and as I look at it… why no “E?”
1 way or another, you get out of school. Now you turn 18 and even though most Jewish Parents feel that this is the age that the real work of parenting begins as they never want to let go of their precious “Cherubs.” The problem with that is: you are still under your parents control and you are now over the age where you “Need” a parent… unless you have a mental of physical deficiency. If you make it through your 20’s and are in your 30’s and still need parents.. OY VAY… is not strong enough to say: you may die needing parenting. Only each individual can make the choice to take care of themselves.
I can only tell you that I moved out of my home when I was 19 and from then until now… it got faster and faster as each year came. The one thing I did not experience until 2008 was a lack of money. Because of being in part of the Real Estate Industry, I saw then lived the horror in late 2007, before most people experienced a National “Great Depression” in the Housing Market. People look at the Stock Market and if it is down or up, it has nothing to do with the housing market. That is based on the 30 and 15 year Bonds which are long term investment. They used to say that the average homeowner lived in the home they purchased for about 5 years and in that time, they made a ton of equity that they took to buy their next home with. From the end of WWII in 1945 until late 2007, there were just 1 year at a time bad periods. The one that hit the USA where they finally Licensed Appraisers was the Savings and Loan Crisis in 1989. In 1990, because of all of the foreclosure action, we had my 1st downturn in Real Estate and it was a bad year. But… in 1991, it started to go back up again. There was another year around 1999, before the turn to the new 2000 fears that computers would stop and horror would rule the world… never happened on that level, but as I recall, that year had not much to remember.
Not until 2008 did the housing market go through what Wall Street went through in the 1920’s with the original “Great Depression.” Along with it came the recall of selling booze. That lasted about 11 years. During that time, Joe Kennedy and all his bootlggin buddies sold hard liquor and beer through alternate means.
To think that people stopped drinking just because a dumb law went into affect does not understand alcoholism. If you drink every day, even for months, you will go through an intense withdraw if you just suddenly stop. It is stronger than any other drug including Heroin that they demonize these days. But no one sees that the life of Heroin in the body is short, so the withdraw is short. The mental withdraw could take a lifetime and that is for any drug that you use daily and then suddenly stop.
Today we are in the process of making marijuana legal and it is about time. Beyond the healing of this “Weed” as it is just that… from the 1930’s Movie: Refer Madness, they painted a picture of people taking a puff off of a “Joint” which is a marijuana cigarette with no filter, and then these people would run around with eyes that were crazed and I saw it so long ago… but I think they may have suggested that you would kill people after taking a “Puff.”
So many things that are said or told to us by the FDA and Federal/State Laws that have no actual help to anyone and some hurt, like saying vaping may be worse than cigarette smoking… That is the same thing as saying taking a little bit of cocaine or any other drug that you can put into a needle and shoot into your arm… is the same as putting 20 times as much in there to shoot. Everything in life has to do with amount and how it is taken and how your body reacts to it and one thing I know: we are all unique and react differently to drugs and life and all of the things that make it go faster and faster.
I need to get ready for the Swing and Sway show, so I am going to cut short what could have been a 20 minute read, so someone should thank Jay.
I would like to leave you with this about time and also Real Estate. I am making a guess that the entire housing market will not hit the height it was at in 2005 for maybe 10 years and possibly never. What used to be a guarantee of money due to equity you built up in the past, by paying your mortgage over time… is now suspect. More and more people rent and now that people cannot use any equity … or worse yet, took the 2005 value of their home and took a nice big chunk of cash…. what did that do to their home? Then, it looked great as you did not even use all of the extra equity you had. Suddenly, you house in 2008 is no longer worth what you paid for in 2005… but just by chance if you bought in 2004 and below… you may have been lucky and at least have a little equity left.
Real Estate ownership of just the home you live in used to be a way of saving money and making sure you had something like a possibility to go from poor to middle class and from middle class to slightly rich class. To get with the “Big Real Estate,” you need Donald Trump tell you what tricks he used in the tax book to be a billionaire and he may not tell you… that bankrupting as many times as he did really came in handy.
So, just be careful before you buy today. Beyond that the appraiser does not have as much to do with value, since a computer Underwriting Program tells the appraiser what has to be changed in order to make a deal happen. They are looking at the average price of a home compared to the one that is being sold or refinanced and then matching it with the home in question as to how they make their decision to lend the money or not. Also, it used to be that good credit was everything. No more. Self Employed people better have paid enough Social Security… they call it something different for those that have businesses and use the “Schedule C” which lists the items that you will be deducting from the gross total you took in. So, even if a self employed person has great credit, they need to submit their taxes and there has to be a substantial amount made and paid in taxes. For employees, same idea. Just good credit is not enough. Because of the fall of America in 2008, they now want to see years of working for the same Company, or something that shows them you are a good risk over time. The only problem is for the young people that are not given the “Leg Up” that I had and others. When I turned 18 and was in College, working part time, they started mailing me credit cards and I did not say anything but the truth. They had Credit Card Company Representatives that went around the Country to Colleges and Universities. Have you ever seen one there recently??? I think not.
To end on a more even note… there are “Niche” markets that do well. You have to look for them. It used to be they were all around. Now, you take much more of a chance to buy a foreclosure or property that is severely in poor condition unless you are a Professional Home Rehab. person. So, it is not that there are no chances in Real Estate… just way fewer than in my time. All of that makes my time go faster. Writing this extra time put me behind the Jay “Ball.” I say it in jest, but one day… he may just open the “Juke Box” and start dancing with our lovely waitress.. ta ta.