Good News From the Housing Market!

Since starting this blog back in 2005, I've always been of the notion that things really aren't as bad as mainstream media would have you believe. Yes, the economy appears to be in horrible shape right now. But, as I heard this morning on the morning news, we are not in a depression, and we are not in a recession. The rule of thumb is that a recession occurs when real gross domestic product (GDP) growth is negative for two or more consecutive quarters. Currently, the GDP hasn't even been negative for one quarter.

I'm not ignoring the state of affairs, but I am choosing to dig deeper to find positive stories that are going on right now. One of those stories is on the front page of CNBC.com as I write this post: Pending Home Sales Jump As Buyers Grab Bargains.

This shouldn't come as a surprise. If you've been thinking about selling your house and upgrading, now is one of the best times to buy a new house in recent memory. Here in Atlanta, home prices have skyrocketed over the last ten years to unbelievable levels. The market correction over the last year has actually brought prices back down to a level that is reasonable, but still above average.

So, to grab a statement from one of my favorite financial teachers Dave Ramsey, "The only economy that really matters is your OWN!" How are you personally doing? Don't worry about your IRA or 401K right now. They'll come back. But, if you're personally carrying a lot of debt, I recommend you spend 100% of your time working on getting yourself completely out of debt. Because, even when times are tough, if you're not in debt, you don't really have anything to worry about. You can weather the storm, AND, you can get a new home loan without any problems. Even during these tough times, banks have no problem loaning money to consumers with good credit and low amounts of debt. Which means, you can take advantage of the incredible bargains on homes right now!

You see, there is always a positive spin on every negative story. And, if you're like the 95% of Americans who are carrying way too much credit card debt (I've been there and know how you feel), I've got a suggestion. If you truly want to change your financial situation, you need to get one or both of the following programs. I have listened to them both and am currently implementing the programs. They work. They're not quick fixes and they're certainly not easy, but THEY WORK!

Dave Ramsey's Total Money Makeover: You can buy the book, but I recommend you either get the book on CD or you get Dave's Financial Peach University kit because you need to hear Dave speak. He's a fantastic teacher.

John Cummuta's Transforming Debt Into Wealth System: Mr Cummuta's system is so simple, yet so effective. Following his program, you can be out of debt completely including your mortgage in about seven years. And, with no more money than what you're already making right now. It sounds too good to be true, but it's not. Believe me. It's the way people have always built wealth in this country until about 20 years ago when we all decided that's it's better to charge it that actually buy it.

Until later, relax, take a deep breath, make smart decisions and make it a great day...

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