Posted by tblefko on July 6, 2009
Photo courtesy of Flickr
Picture if you will a typical business in Pennsylvania – it’s owner employs good people and sells a product or provides a quality service that people want. There are thousands of these types of businesses across our state; and for that matter, across our great country. These owners are constantly overseeing their revenue streams and expenses to make sure that at the end of the year they’re in the black. It’s a tough, day-to-day struggle which requires diligent oversight. In addition, in order to continue to make a profit (or at least break even), the owner needs to plan for the future. I won’t continue to bore you with my basic outline of Business 101 because I think, like most people, you get it. So if you can get it, why can’t our legislators and Governor Ed Rendell get it!
For some reason they seem to think that state government shouldn’t be run like a business. Their retort, “That’s because it isn’t.” My response, “Why not? Why shouldn’t our state government operate under the same basic rules of business that I operate under?”
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Posted in Buyers, Legislation, Market Conditions | Tagged: Business, Income tax, Nevada, New Hampshire, New Jersey, Pennsylvania, Reports, Republican Party, Senate Republicans, Statistics, Taxes | Leave a Comment »
Posted by tblefko on February 19, 2009
Image Courtesy of Flickr
If you’re like me, you’ve had it up to here (place hand over head exactly 1’7″) with all the talk about the “stimulus package.” There was a House version, a Senate version, a Republican version, a Democratic version, the Auto manufacturers’ version, the State Governor’s version, the Sesame Street version, etc. etc. If you want to read the entire piece of legislation that finally got signed by President Obama known as “The American Recovery and Reinvestment Act of 2009″more power to you. Most people though just want to know how it impacts them in their personal and professional lives. Because you are reading a real estate related blog, I will assume that you have interest in just the portions of this legislation dealing with real estate so I will limit my review to those provisions. Grab a cup of coffee – - – here we go!
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Posted in Legislation, Market Conditions | Tagged: Fannie Mae, Financing, Foreclosures, Freddie Mac, Investment Properties, Mortgage Interest Deductability, Obama, Real Estate Taxes, Stimulus Package, Taxes, Web Sites | Leave a Comment »
Posted by tblefko on January 22, 2009
Image courtesy of the Wall Street Journal
Some glimmers of hope are starting to emerge on the horizon and some economists are starting to shed their doom and gloom facades and actually smile. Alan Murray, who writes for the Wall Street Journal, is cautiously optimistic about the upcoming year and he shared his thoughts recently in a piece posted on-line. He sees five things happening in 2009:
- This will be a good year to invest in stocks. His rationale? He thinks that we’re at, or close to, the bottom of the market and the age-old adage applies - ”Buy low, sell high.” It will be tough for most people to take this advice because they have been burned in the market over this past year but if you can get over your investing jitters, opportunity awaits.
- It will be a good year to invest in real estate. He points out that buyers who are entering the market at this time are finding historically low interest rates and an inventory of homes that is second to none. He feels sellers will start becoming more realistic with their pricing which will lead to good opportunities for those who can recognize it.
- Americans will learn to live within their means. This trend is happening before our eyes. People no longer heat their homes to 70 degrees – it’s now 66 degrees. A new car that adorned their driveway every three years is now turning into six years. A pair of new jeans that used to be purchased at that trendy store in the mall are now being picked up at WalMart. Multiply these scenarios by 300 million and you understand what effect it is having on the American economy.
- President Obama will have a historic opportunity to reshape public policy. Because of the economic crisis, the new President will have an opportunity to do things with the American economy that were unheard of in years past. The stimulus package numbers that are being bantered about are mind-boggling and this money is going to be pumped into new roads, bridges, infrastructure, schools and just about anything else that moves. A lot of companies and people will benefit because of this windfall.
- Your (federal) taxes won’t rise. He claims that even though Obama said during his campaign that taxes would be raised for those Americans in the upper tax brackets, no politician is willing to back this in the face of a serious recession. Well if taxes aren’t increased, how is America going to pay for all this “stimulus?” That seems to be the million (or should I say trillion) dollar question.
Time will tell if these predictions become a reality.
Posted in Market Conditions | Tagged: Media, Obama, Predictions, Stocks, Taxes, Web Sites | Leave a Comment »
