Do not talk Fiscal Cliff and how it is going to hurt Real Estate or the Mortgage Market unless you know the facts of it all. Typically, the world delivers us choices and options, plan A and plan B, pros vs cons. Guru’s in the economics world believe there are pros and cons to the up coming Fiscal Cliff. I am a mortgage professional, and not a politician or economist, so I will not act like my views or opinions matter, but I will ask you to always look for both sides before you just repeat or paraphrase the first thing you hear about a subject. You have to know by now, the big market media channels are going to talk about the negative first, so sometimes you have to search a little to find the positive.
Do you see the Fiscal Cliff as it relates to Real Estate and mortgage a PRO or a Con?
In reading a blog post about this called The Fiscal Cliff: Catastrophe Or Logical Consequence?, my eyes were opened a little to what the whole stir is about. In reference to things in the long-term and the short term, my life has shown me that there are usually more sacrifices to be made to get benefits in the long-term, and long-term benefits always out-way the benefits of short term gains. Shoot, I’d love to bypass putting 12% or more of my annual income into retirement so that I can have retirement in the future and I could take super nice vacations EVERY month for how much I choose to put off. On the other hand, I am responsible for my actions, and I am disciplined with my money and plans, and I would rather have a little too much in later years than not enough. If we allow the Fiscal Cliff events happen, and we knew that it might cripple us a little in the very short term, but benefit us and our country in the long term, wouldn’t that be a risk or sacrifice to accept? Just saying.
If you talk to the rich, or someone that is always “in it for themselves”, of course they are going to look down on the changes when they can no longer get tax breaks for their Real Estate, for example. It’s never about “the team”/i.e. American public in general, for them. It’s about scraping every remnance of a dollar and it’s change that is possible into their account. For me, if my family and I have to sacrifice a little for a couple years, to bring our “team”/America back to supremacy, I’m in. Again, my profession is mortgage, so I’m not saying that the Fiscal Cliff is a “money in the bank” decision, but doesn’t it make since to look at both sides?