Unfortunately the media keep pounding away that lower home prices are a negative, but in reality lower home prices are a positive; paying less for a home allows for additional spending on discretionary items that fuel manufacturing, which creates better paying jobs.
Patrick.net has a daily viewership of about 20,000 between the website and email newsletter. The stories within the newsletter are submitted to Patrick by his readers. Patrick then spends about three hours each day sorting through emails and updating his site. While Patrick accepts donations and receives some advertising support, he finds his reward in exposing the truth about the real estate market, which is something that most real estate professionals are unable to do.
When I ask Patrick what his goals were for his site, he offered the following forthright, common sense perspective:
"I want to cause a sea-change in the mentality of the US. I want people to see that mortgage debt is destructive, with no benefits at all, except for bankers. Mortgage debt just drives up prices and enslaves workers to their bosses. If we all paid cash for houses, or rented, we would be more prosperous, more free, and happier."
Patrick.net is a housing news resource that keeps me informed, which is a a great deal more than I can say about the mainstream media.
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