This blog is absolutely self-serving, and I have no problem admitting it. After all, I’m trying to sell my book and part of that means doing paid speeches across the country.
A few weeks ago a huge real estate firm in a major Midwest city offered a pretty nice fee to have me speak at their annual convention. I was out of state at the time, but rushed back to talk to these Realtors about the country’s HOA mess and the kinds of financial and housing disasters that are racing down on this country like a falling bomb. But while I was in the air, my agent got a call saying the company was cancelling my speech.
That’s OK, it happens. But it’s unusual enough that it got me wondering. I learned I was hired on a recommendation, but at some point someone in this real estate network must have read my book and discovered the topic was, shall we say, controversial?
Well, let’s take a second look. If a looming real estate disaster is about to destroy the financial well-being of millions of people as they buy homes and take out mortgages, shouldn’t someone advise them to be cautious about how they structure their new purchase? And who should that be? Are the Realtors giving their clients such warnings? Me thinks not.
If the entire Real Estate profession is on the verge of getting hammered by a housing disaster a hundred times bigger than the 2008-2009 recession, who should know about it first? Do you think the Realtors know? Me thinks not.
A lot of us are being blinded and hornswoggled about the state of our economy. I’m going to link to a 2008 Wall Street Journal column about a hedge fund manager who predicted the 2008 mortgage crash, and found several ways to ‘short’ the housing market. He made billions of dollars profit for himself, and many billions more for his hedge fund.
And who knows absolutely nothing about how this obscure investor made his billions? Do the Realtors? Again, me thinks not.
(WSJ column on John Paulson, hedge fund manager)
Is the Association of Realtors friends with CAI? Doubt you’ll say, “me thinks not”…