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Homeowners Face Worst Crisis Since Great Depression

Homeowners are facing the worst crisis since the Great Depression.

In the wake of the collapse of the housing boom, nearly 8.8 million homeowners, or 10.3 percent of all homeowners are in NEGATIVE equity positions!

As unbelievable as it seems, the old "guarantee" that real estate just keeps going up, up, up has become about as real as the Tooth Fairy. But at least she gives you a buck or two under your pillow before she takes your tooth away. That's more than what many homeowners are getting before they are losing their homes-- and their pillows.

Particularly startling is the fact that the negative equity positions homeowners are currently sitting in are more than DOUBLE the percentage they were just one year ago, according to a new estimate of the damage by Moody's Economy.com (See NY Times article link below.)

Ah, but there is light at the end of the tunnel-unfortunately the light is a train in the tunnel! But not just any train; it's the Big Government bailout plan coming on down the tracks as a "reward" for mortgage companies who, in greed, handed out massive number bad loans that, in turn, artificially drove house prices through the roof-that is now caving in.

Conducting Talk Show interviews on the topic of what really needs to be done to fix the housing disaster is TROY DUNN, author of "Young Bucks: How to Raise a Future Millionaire" (Thomas Nelson Publishing).

During your interview with Troy, he explains that the only "fix" needed is to do nothing and to allow the market to fix itself. Government bailouts are merely delaying and AMPLIFYING the problem, leading to a potentially monstrous disaster later.

Harsh medicine? You bet. But a much needed prescription that our nation needs to see real estate values become realistic and for homes to settle in at the value they are really worth relative to all other market conditions.

And what would be the result of such a remedy if politicians actually dared to take Troy's advice?

Simple: The prices of homes would continue to drop and eventually stabilize and then rise again. But in the mean time, it would be a "buyer's market" for those who have some extra cash and want to buy far below prior market value.

Troy says if the market is allowed to do what free markets do----including a freefall of prices for a short time sometimes-when they recover, they will reflect true value, becoming a foundational level of value to which other markets can be accurately compared.

Troy Dunn also de-cloaks the current Bush administration's so-called 30-day Lifeline, saying, "Despite what it sounds like, Project Lifeline is NOT about saving American homeowners. It's about saving American banks! 30 days of reprieve for someone who is already fallen at least three months behind is not going to save a home. It just helps the banks stagger their losses and buys them a little time. Unless that 30 day reprieve also comes with a better paying job, the foreclosures will march on, as they should. Sad as it is, this is the law of natural consequences. Trying to stop it will cause much greater damage to our society and our economy. The banks got greedy, gambled and lost. If they do not suffer the consequences, the nightmare will only repeat itself in the future only worse."

But Troy does not leave your audience hanging in more misery. He offers hope and some practical solutions.

"Instead of waiting for the next headlines to read, 'Las Vegas officials announce that for the next 30 days, everyone's a winner!,' seize the moment and do whatever it takes to bring in extra household income NOW!"

In Troy's latest book, "Young Bucks: How to Raise a Future Millionaire," he gives dozens of examples of quick-start businesses virtually anyone in your audience can start. From the youngest child to a part time work-at-home mom, he gives creative ways to make that extra amount of cash needed to pay the monthly mortgage payment.

During your interview, Troy Dunn gives easy to understand comparisons of how our nation's economic problems are merely a collective amplification of each of our own family finances and our individual views on money. He says that if we first learn the work ethic and value of money as individual families that we then can have a strong collective economy for our nation.

The first piece of advice Troy gives in this regard is to stop giving an "allowance" to your children. How heartless! How cruel! Is Troy actually proposing taking away candy from a baby? Is this his concept of how to eke out a little more money for parents to pay their mortgages? NO! Quite to the contrary.

Troy advocates paying your children a lot more money-but only when they earn it! During your interview, Troy can give dozens of home business ideas that virtually any child can do to EARN money and not simply expect a hand-out. Troy asks, "Is it any wonder that when a child grows up that he expects Uncle Sam to give him an allowance (welfare, etc.) when he or she grows up?

One of Troy's young sons runs a "Pine Cone Business." He earns about $40 a day picking up pine cones for a local landscaper for 5 cents each. Sure beats a $5 a week allowance!

Interview Troy Dunn today and let your audience begin the concept of launching multiple streams of income for their families with virtually no start up costs in a myriad of ways to not only help pay their mortgages but to have their own children earn enough money ahead of time to pay for college-if they even choose to go t to college, which at that age may not be necessary if that child is already a millionaire from implementing Troy's concepts from his book, "Young Bucks: How to Raise a Future Millionaire."

New York Times article documenting this Talk Show topic:
http://www.nytimes.com/2008/02/22/business/22homes.html?_r=1&hp=&oref=slogin&pagewanted=print