Letters to the Editor – November 2008

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Be Accountable. A Bit of Irony. A Growing Gap.“Coming Up Short-How Realtors Can Make a Difference during Economic Turmoil”
www.rismedia.com, September 25, 2008

Owning Up
The author lost me with her first comments blaming the media for the problems we are in today with their negative reporting. That is like blaming the score keepers for losing the game. Until our industry-our entire industry-takes full credit for the role we played in this debacle, we will not become a positive force in making sure that we regulate ourselves to avoid these credit problems in the future.

The finger pointing at the media is misguided and I am sick of hearing it as a lame excuse for the downturn in real estate and the economy in general.

Don Oylear
Realtor
Mission Mountain Realty
Bigfork, Montana

“Struggling Homeowners Demand Bankruptcy Provisions as Congress Moves to Bailout Financial Industry”
www.rismedia.com,
September 24, 2008

Too Little, Too Late?
Thank you for highlighting what is possibly the most important issue facing our country. As I read your article, I could not help but sense the irony in the timing of the bailout. How many have already lost homes due to lenders not working with them rather than homeowners not working with the lenders? I personally know several people who have tried to get their lenders to work with them, but to no avail. I have a close family member in the industry who just came out of a Chapter 7 bankruptcy but may lose her home to auction next week. She has been looking for “real work” for a while, with no success, and her lender will not work with her unless she has regular paycheck stubs to prove income. If she loses her home, it will be just another one of many in the area. Stability is critical at this point! A $700 billion bailout could have staved off the mess we are in now had it focused on homeowners even a year ago.

Another point I have pondered: many REOs are being sold to investors, shifting the balance of homeownership in communities throughout the U.S. With increased rental activity often comes increased blight down the road. What will our communities look like in another few years? This also breeds a whole new generation of children who will be raised in a less-stable environment.

This article was amazingly important, and I felt compelled to respond in agreement with what was written. Please continue to push these issues to the forefront of conversation.

Heather Dennington
MBA, Broker/Owner, Realtor
Perissos Real Estate & Mortgage
Southern California

“Bailout: What Comes Next?”
www.rismedia.com,
October 1, 2008

We Do Not Need A Bailout
We need the “leaders” of business and the “leaders” of our government to stand accountable for the theft in office they have perpetrated against America. We need Americans to stand up and in one voice cry, “No more!” The gap between the stratospherically wealthy and the common citizen has never been larger. Record salaries have been paid to business leaders while they have been steering the country into this financial abyss. No more!

If I were to treat my own finances in the manner banking and businesses have mismanaged the public money, I would be bankrupt as well. The difference is, I would not be getting a bail-out of any kind. Rest assured, there will be no help for the average American in any bailout that takes place. It will be a bailout for the wealthy. It will change nothing. If these companies and the people who steered them on this course are not held accountable, we will be throwing taxpayer money out the door because nothing will change. More money will flow into the hands of a few who will once again simply demand more. No more!

Rian Dean
Consulting Realtor
Technology Coordinator
Keller Williams GCW
Westlake, Ohio