There have been several occasions this past month that I've sat down to write a new blog article, only to be confronted by the scary and sobering reality that "Nothing I can say at this moment will change what is happening or give anyone relief from the financial hardships they are experiencing." There's simply no place to hide from the fallout of the massive global economic crisis we are currently confronting head on. Unfortunately for us all, it seems to have a seismic range that no one could have anticipated. I've been comparing the economic crisis in my mind to an earthquake. We have had the initial quake, and now we are feeling daily aftershocks with the continuing decline in both the stock market and the real estate market, as well as the apparent implosion of the banking system (as we knew it before the crisis).
So instead of writing yet another article that contends to understand and/or explain the basis of how we got to this point in the first place, and doggone it- how are we going to get out of here, I turned my attention to reading philosophy and fiction as a form of shelter (and necessary diversion) from the constant media storm. Being that today is Halloween, I thought it would be an appropriate day to come back to blogging, with some possible new insights I have garnered from my temporary hiatus. I have come up with a few insights. They don't necessarily have to do with real estate, and they may not relate to anything that you've been experiencing. They are general insights of a philosophical nature. Although I suppose there is the possibility they could apply to any crisis faced during a lifetime (be it a personal or a financial crisis). Here are a few "treats" I would like to share with you that I have gained by pulling away from the mainstream media for a stint, and pausing for some necessary reflection about the current state of our economy in America.
1) This evolved into a crisis because Americans are used to spending not saving their money. I recently read an article about the Baby Boomer generation, who are known to be the generation holding the purse strings of our economy. The Boomers have (up until now) fueled their incessant spending habits with cheap oil and cheap credit. Since there is no more of either, the Boomers will have to revert to basic 'Granny' savings techniques. This is a very foreign concept to many Boomers who have acclimated to spending as a way of life. (My Grandmother used to recycle tin foil for heaven's sake). The lesson here is that there is no easy recipe for financial or personal success. Any success achieved in life is a direct result of diligence and good old fashion hard work. All of us will need to make adjustments to not being able to live a life 'on credit.' It's not really the housing crisis that created the financial crisis of 2008, it was a shift of consumer spending habits that occurred since the early 1990's, where it became normal to finance ones lifestyle on credit.
2) The government is not going to save you or me! The bailout plan was geared to coming to the aid of major commercial banks, which (in theory) should serve to keep the economy lubricated, and keep the wheels of commerce turning. Unfortunately, banks are not helping the problem all that much, as they seem to be hoarding the injection that the government gave them instead of lending to other banks and more consumers. People would be wise to stop thinking that the government is going to bail them out of whatever personal financial firestorm they are facing. Unless you think socialism is an acceptable form of government, we need to figure our own ways out of the messes we have created. Who was it who said, "Oh, such tangled webs we weave." It's time we take responsibility for our own actions. My Grandmother used to say, "Never dig a hole for yourself deeper than you can dig your way out of. Incidentally, this was the same Grandmother who actually took joy in recycling tin foil!
3) Don't base your happiness on the state of the economy. If you do, you are in for a very unhappy and uncertain future. I have been reflecting on the statement, "The best things in life are free." Try that one on for size again. Even if you lost faith in the validity of it. You may find it does ring true, and there are countless ways where getting creative in this domain can actually energize your spirit and renew your belief system that simple things can create great happiness in your life. Yesterday I went on a hike (free)! I found some beautiful rose quartz rocks (free)! I came home and hugged my kids, my husband, and my dog (free)! I witnessed a breathtaking Tucson sunset (free)! And then I sat under a canopy of brilliant stars (free)! At any rate, there is simply no end to how creative you can get with this free stuff, and it is a beautiful thing to appreciate the simple things. Maybe if you adjust your priorities, you'll begin to appreciate everything more, not just the simple things. If you practice adjusting your thinking, you may come to find that Happiness comes from what's inside of us, not what's outside of us. Create for yourself a happiness that is not based on external forces. Ralph Waldo Emerson said it so succinctly, "A happy person is not someone with a certain set of circumstances, but someone with a certain set of attitudes."
4) One of the best quotes of all time is, "Change is the only constant." If only I could remember who said that! No matter. We all may have to relearn the basics in order to survive this economy, and learn to do without all the extras that got us in financial trouble to begin with. In the grand scheme of things, simplifying may not be such a bad thing. My favorite philosopher, Ralph Waldo Emerson, said in his essay, Compensation, "Every excess causes a defect; every defect an excess...For everything you have missed, you have gained something else; and for everything you gain, you lose something." I don't want this posting to turn into a philosophy lesson, but perhaps if we see this time where we must pull back our purse strings as an opportunity for reflection, and a time to learn something new about ourselves regarding the obvious excesses of the past several years, we will gain something from our losses. Accept that things are not always going to go your way, and that change is a normal part of life. It's how you react to change that is going to make or break you. In other words, everything we experience is shaped by our own perceptions.
Just a little food for thought on this Halloween day. Hope that wasn't too tricky! Enjoy yourself tonight, and be safe.
Written by Sarah Ley,
BSBA, ABR, CRS, CNHSA
REALTOR with Long Realty
Direct: (520) 404-0544
http://www.sarahley.longrealty.com/
sley@longrealty.com
Friday, October 31, 2008
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