The credit cruch has turned the corner
I read a lot abount investing. about stocks, bonds or about real estate investments. There is very good info in books and magazines and in all types of new papers. Sometimes the best information can be in the title or in local advertising. for instance, In April of 2000 I started a new job. I changed jobs for the simple reason that my old job had no 401K. My first week there I noticed the guys there were bragging daily about how many thousands of dollors there 401K's were making. A week later I saw a National newspaper sitting on the table the headline read "FEDERAL RESERVE WORRIED ABOUT INFLATION". I turned to the person next to me (who was 25 years my elder and had several hundred thousand in his 401K) and said "sell your high risk funds the markets going to drop". He looked at me and literaly said "what the hell do you know, your just a kid". A couple years later he told me that he had told his stock broker what I had told him and his broker said "don't listen to him, this is a new economy. Your money is safe".
I saw my first sign of a change in the credit crunch today. While driving to pick my son up from school I heard on the local radio station. 'Come in and apply for a home equity loan. Use all that equity in your home to finish those home improvement projects, or go on vacation...'. It was like hearing the first airplane in the sky after 9/11. I got confirmation this evening while watching network television. 'Go online and apply. It's easy. Use the equity in your home...'.
Banks are starting to get hungry. The hungrier they get the more competitive they get. It will get easier and easier to get credit.
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