Tony Brewer

I am really hoping that America (and the rest of the world for that matter) will really learn that adjustable rate mortgages are dangerous for many homeowners. I had thought that is was common wisdom that getting an ARM was not the best idea if avoidable, but it seems there are many people today who are suffering because they did not follow this wisdom. Sure there are other factors too, including declining housing markets and such, but if any good is going to come of this situation, it should be a giant learning experience for the masses. I haven’t really seen much in the way of stories focused on this, and perhaps my hopes will fall short, but we’ll see.

It would be nice to have a broad paradigm shift int he common sense in this country (on this issue and many others of course).

I’ve been there so many times, but going to Vegas has some kind of magic to it. Perhaps it’s the neon lights everywhere, or the moving sidewalks at the airport. I’m sure for many people it’s the gambling and clubs, but for me it’s more than that.

I love the fact that there is this huge mega city right in the middle of the desert, it amazes and saddens me in some ways that there is so much energy and water spent to make this mecca shine. People are paying for it all one way or another, I do wonder how they will keep this town going strong with the local real estate market taking such a tough hit though.

Sure people will fly in from around the world and spend millions hoping to win millions, but if the local people can’t afford their mortgages, there won’t be anyone there to deal the cards and clean up the buffets. I am sure the casinos are aware of this and probably putting pressure on government officials to make things easier for the local, or maybe they will just step in and start buying up real estate themselves.

It certainly would be a sad state of affairs if the only housing people can afford is corporate sponsored, but the way things have been in the news lately, it may be the only way to keep enough workers there.

I am on my way back to FLA tomorrow. Mom and dad are looking at some condos in the Palm Beach Florida area. They have been dreaming of retiring to Florida ever since I can remember. Dad has been saving for retirement and moving money into IRAs for some time. They are looking to sell their place in Virginia and move the equity from that house into a condo.

They should do well with this purchase, from checking on the internet it seems that they will have enough money to do the upgrades and buy all new furniture. Dad is considering selling the truck and buying a golf cart; he wants a condo that has a golf course next door.

Can’t wait to see which place they choose to move to!