Don’t worry ~ the brokers say that things are going to be okay

I have two general rules that I follow when it comes to investing: 1) Don’t trust people to give you good, sound advice if they have a stake in your making a decision in one way over another and 2) don’t trust people who have to advertise that they take "ethics" training.

For me, this means a large number of real estate brokers. These are the ones’ whose reputations have been so tainted by some of their unethical members that they have to tell people that they are trained in ethics. And yet most of the time you have no choice whether or not you want to deal with them. How have they, as a group, amassed this much power? "Ethics" isn’t something that you train in to be better. It’s something that you are taught as a kid and choose not to violate when you are involved in business transactions.

Well, here’s an article from the UK Times Online that says that overseas luxury properties are not going to get hit by the lending crisis. What kind of bubble do they think they can continue to live in? Of course, it’s not the economists who think this, it’s the brokers. Go figure.

People who think that the rich aren’t going to be affected by this mortgage crisis are in the same camp as those who think that humans are disconnected from the ecosystem because they are "infinitely adaptable." It’s all about the systems, people. We’re connected. We have to accept that fact and get along.

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Posted on September 28, 2007
Filed Under Real Estate |

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