Extraordinary Business

There is a lot these days about credit and the sub-prime market. The values of homes have risen dramatically over the past ten years. Now in many areas that growth has slowed and even stopped.

So how has this impacted you? Those who have purchased homes above their means are feeling the pinch and many lenders have suffered now that the bubble has burst. In the end, the impact of this will be felt by everyone.

To my friends in banking I ask this. What opportunities exist now that could possibly strengthen your business? Are there any advantages to the outcome of the sub-prime lending?

As a home buyer, if you were looking to invest in real estate, I would say that the next year or two are going to provide some great opportunities provided you have the capital to spend. I am guessing there will be homes that are going to be at bargain prices and you will be able to get more than what you paid for three years ago.

Well, after a long summer I am finally getting back into the swing of things. Though it has been a while since my last post, I can honestly say it's not related to the subject.

I recently read an article in Fortune Magazine called Couch-Potato Nation (September 3, 2007). It appears that Americans have become lazy compared to some of their international counterparts. We are have approximately 117 hours of leisure per week compared to 110 in 1965. The article argues that in a world labor market, we are driving our compensation downward when other countries such as China and India's are going up. Based on the article it seems the only solution is to get off our butts and work more.

While I agree with some points of the article, I believe there is more to it than that. I also believe that we can still remain effective in the global labor market, but it is going to require us to change ourselves. We need to re-invent who we are as a nation and in many cases what we offer the rest of the world. I remember a time not so long ago when an IT or engineering job meant security. Those times have changed. Our responsibility is to keep up with the changes.

What do you think?