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Bailout Blues and New Opportunities
Posted on Oct 2, 2008 by Mike Geyer
Wow! What a month it has been. We have seen the end a couple large investment banks that were once almost invincible and we have seen the end of AIG (the huge insurance company)in it’s current form. While Congress makes up it’s mind about the “Bailout” we are all waiting to see what happens to our ability to borrow money and watching our retirement plans and stock holdings lose money. If that were not enough the Bulldogs lost this week! It’s enough to lead some into a state of depression. In the midst of all this bad news I see some promising signs for the future. Today’s Wall Street Journal is reporting that investor Warren Buffett has agreed to “infuse” $3 billion in General Electric. Mr. Buffett made a $5 billion investment in Goldman Sachs Group Inc. just over a week ago so clearly he is bullish on the economy. He has made his fortune buying into solid companies when they were undervalued. Well, you say, I don’t have $5 billion to invest. That’s okay, the same principle applies to local real estate. Look for good values that are underpriced in areas that have good growth potential. Are we at the bottom of the real estate market? I don’t know. But I think that we are there or very close. Timing the market has always been risky but buying real estate now makes sense. Remember, many more millionaires are born in a down market than in an up market. Mike Geyer
Tagged: $700 billion buyout, warren buffett, ge, goldman sachs, real estate opportunity
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