Transcription:
Hello, this is Kenn Renner and welcome to AustinVideoBlog.com, still October 13th, Monday October 13th, 2008. I got another email from Janis in Odero Ranch, California. Janis says:
Recent markets & political events, Mr. Renner, as a 4th generation Californian, I am actually more appalled & saddened by what the developers have done to our California paradise. However, I have lost considerable dollars in my stock market account but am in it for the long haul so have just stopped looking at negative news, scary fearful information (I was following closely), and started to rely on my beliefs, trusting in God, faith, strong stomach, and steady approach with long term horizon. True, I am older now and it does affect me more with less time to recover, but what can you do? Just speak positive words & believe. Thank you!
I appreciate those comments and I appreciate your comments about faith too. Because people get so wrapped up in fear and greed and they sometimes forget about the faith that we should all have in regards to faith in America and faith in God. That’s the one thing that we will find that is being shaken right now as the financial and real estate markets take a little bit of an earthquake here as been described by one Wall Street analyst. As far as your investments are concerned, yes, they probably will recover over time. One thing that I do recommend is that if you are getting closer and closer to retirement, that you should try to pay off your housing — your home. Because that is one debt that, once you’re too old to work, if you haven’t paid it off, will be an ongoing continuous debt. So if you do own a home, do pay it off and you can cancel off that long term debt. It’s great to have free and clear real estate. Here in Austin, we have higher taxes than you do in California, but we have very inexpensive property. If you go to my website, BuyAustin.Com, you can find all kinds of bargain property. You can probably just write a check for it with all of that Californian equity. Even though you’ve seen a 30% drop in values, there has been a 300% increase since 2000 in the values in California real estate. So come on out to Texas, y’all and we’d be glad to have you.
Tags: cancellation, debt, Estate, Faith, long, perspective, Real, term
