"It's a Wonderful Life"
September 22, 2008
Frank Capra's movie "It's a Wonderful Life" was filmed in 1946. It dealt with a banking crisis and it dealt with foreclosure issues. It also dealt with the triumph of the human spirit. It is easier to dismiss the message of goodwill as naive and too simple for the complicated world of today, but the large audiences that tune in to the reruns of the movie suggest that we still admire "character".
The past week was a challenging on for all of us who follow the financial markets. While the past year has been extremely challenging for anyone with a stake in the "American Dream", September has been filled with extraordinary financial events. The federal government is acting to preserve our economy and time will tell whether they can be successful in their efforts. I read that most average Americans are invested one way or another in the financial markets through stocks, bonds, IRAs, pensions, etc. The government knows that they cannot stand aside and just let the market cure itself. The Treasury Department and the Federal Reserve are acting quickly to create stability. With any lick, Congress will also act quickly and the economy will stabilize. I also believe that if there are loan products available, Americans will still purchase homes; especially as they perceive the adjusted values to be attractive and affordable.
As I listen and read, the pundits still believe that the decline in housing prices is at the core. So let's hope that the decline has reached a bottom and that those who wish to buy will have the means to do so. In our market area, there are some wonderful homes available and the prices have become very realistic. This may not be a market for the faint-hearted, but it is clearly a market for the value seekers, for them, it is opportunity time..
I go back to the message of "it's a Wonderful Life". To have a sense of community, to keep your home and family together during adversity and to place those values above profit and loss are what make it a "Wonderful Life"
Frank Capra's movie "It's a Wonderful Life" was filmed in 1946. It dealt with a banking crisis and it dealt with foreclosure issues. It also dealt with the triumph of the human spirit. It is easier to dismiss the message of goodwill as naive and too simple for the complicated world of today, but the large audiences that tune in to the reruns of the movie suggest that we still admire "character".
The past week was a challenging on for all of us who follow the financial markets. While the past year has been extremely challenging for anyone with a stake in the "American Dream", September has been filled with extraordinary financial events. The federal government is acting to preserve our economy and time will tell whether they can be successful in their efforts. I read that most average Americans are invested one way or another in the financial markets through stocks, bonds, IRAs, pensions, etc. The government knows that they cannot stand aside and just let the market cure itself. The Treasury Department and the Federal Reserve are acting quickly to create stability. With any lick, Congress will also act quickly and the economy will stabilize. I also believe that if there are loan products available, Americans will still purchase homes; especially as they perceive the adjusted values to be attractive and affordable.
As I listen and read, the pundits still believe that the decline in housing prices is at the core. So let's hope that the decline has reached a bottom and that those who wish to buy will have the means to do so. In our market area, there are some wonderful homes available and the prices have become very realistic. This may not be a market for the faint-hearted, but it is clearly a market for the value seekers, for them, it is opportunity time..
I go back to the message of "it's a Wonderful Life". To have a sense of community, to keep your home and family together during adversity and to place those values above profit and loss are what make it a "Wonderful Life"
posted by shirley harry at 8:21 AM
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