Real-Estate-Investing.com wants to know your opinion. Let's face it. We are all sick and tired of hearing about the global financial crisis. A lot of us have been talking about what we can do as individuals to help turn the tide so we can get back to business as usual. As investors we don't need a "buyers market" or a "sellers market" to be successful, we just need a market.
The Real Estate industry is extremely slow right now. Without movement, there's no money. Without money, there's no movement.
America has a new President. I hope he's better with money than the last White House tenant. Here's a quick look at how the Bush gang is spending the $700 billion bailout package for banks — throwing it at financial institutions with few strings attached.
As a result, many Wall Street institutions are using billions and billions of taxpayer dollars to pay for fat cats' bonuses.
• Goldman Sachs, which is getting $10 billion from the bailout plan, is paying out $6.85 billion in bonuses, according to media reports. That's $210,000 per employee for those of you going for the calculator. AND...that's despite a 47% drop in its profit and 53% drop in its share price.
• Morgan Stanley, which is also getting $10 billion from our government, is doling out $6.44 billion in bonuses or $138,700 per employee, even though its profits tumbled 41% and its shares are off by 69%.
• And even the failures at Lehman Brothers are collectively getting over $1 billion in bonuses.
With brand new President Barack Obama at the helm, there are many decisions to be made regarding the economy.
As a reflection of our new fully Democratic society, Real-Estate-Investing.com wants to hear what people have to say. They are backing a contest presenting $1,000 to the winner who submits the best "10 Word Solution" to the property crisis. The "Top Ten" list of suggestions will be submitted to the White House for consideration.
This is a list of the "Top Ten Presidential Solutions to the Real Estate Crisis"...in "Ten words or less". Submit your suggestions to the link below and you just might find yourself $1,000 richer a few weeks from now. In addition, it's just possible that Barack Obama himself may take a look at our list when submitted. Stranger things have happened.
1. REPEAL PROPERTY TAXES BACK TO 2002
2. ALLOW REFINANCES TO 80% OF CURRENT MARKET VALUE
3. FORGIVE ALL HOME EQUITY LINES ABOVE MARKET VALUE
4. NO PROPERTY TAX FOR 2 YEARS ON NEW PURCHASES
5. WIPE OUT STATED INCOME LOANS. (LOANS YOU LIE ABOUT)
6. BACK LOANS TO PREVIOUSLY PROVEN INVESTORS TO STIMULATE THE MARKET
7. BACK LEASES FOR THOSE WILLING TO WORK, REDUCE WELFARE HOUSING.
8. MANDATE SHORT SALE DECISIONS BE MADE IN UNDER 30 DAYS.
9. ALLOW PEOPLE TO DELAY FORECLOSURE BY MAKING PRINCIPAL PAYMENTS
10. ...YOUR SUGGESTIONS BELOW. $1,000 TO THE BEST SUGGESTION