Notes on Real Estate

One of the great freedoms we in the United States of America take for granted is the freedom to be property owners. Property owners own the land beneath their feet, tapering right down to the center of the earth, and all the wealth that might be there in the form of natural resources. Property owners can grow food on their land. Within the law, keeping and raising critters, for fun, food, or profit is allowed. What we own and grow is not the property of wealthy landowners, and we are not vassals.

Put aside the idea often heard, "The bank owns my home." Not true. Your home is collateral on a loan; you own the rights and responsibilities of your own property. If the bank owned your property, you could not sell it, and if you did, profits would also belong to them.

Millions of people around the world do not and cannot own the homes in which they live. Since the fall of Communism at the dissolution of the Soviet Union, the reappointment of property rights and ownership has been a major issue throughout Eastern Europe and its formerly Communist countries.

Recent concern about home appreciation and the market in general is only a small part of the big picture. The big picture is that a home is an asset a person can live in. Almost nothing else we purchase both appreciates and provides a fundamental life service. Our automobiles, clothing, electronic gizmos, even food… all depreciate.

In the USA, our freedoms far outrank our problems. We are free, even, to complain about them. We are free to absorb whatever input we like, then make decisions about how to proceed.

It began "officially" in 1607, when the Virginia Colony was first fully established. It took until 1776 –160 years – before independence was declared. In perspective, we have had 231 years as a declared sovereign nation. That's just 71 years longer than the time the USA wasnt the USA, a single long lifetime. That's close to half and half. Add them up and we are still a young, young country, by historical and empire standings, at the age of 391. At best, the USA is an early historical adolescent. My point? Like many a teen, we often don't realize just how good we have it. (Nor, do we appreciate being told so.)

The good news is that on every 4th of July we celebrate our liberty, remind ourselves how fortunate we are. Even if we are an adolescent nation, we are "a good kid". We are talented, resourceful, energetic, intelligent, and fair-minded. We often contradict ourselves, often blunder enthusiastically into trouble. We defend ourselves and our friends against bullies, although sometimes we become the bully. We are both greedy and generous.

The comparisons are endless. Mostly, though, it is a good idea to remind an adolescent of its merits. Too much negative input engenders the potential for negative self-image, which in turn becomes a self-fulfilling prophecy.

All this said simply because we can own our own homes? Yes - Take out the word "simply". There are millions of people who would like to take that away from us, past and present. Yes, sometimes Eminent Domain takes property from us, but often as not it does so fairly rather than unfairly. Nevertheless, the right to own our own property was dearly paid for and is fundamental to our freedom. That is the big picture. When the fireworks go off and you look up into the sky in awe, remember to also look down at the earth beneath your feet and take a moment to celebrate our right to own our own piece of it.

That’s it for now. Except this:

1. If you have interests or questions, please e-mail me or give me a call.
2. Check out my website HERE

The opinions expressed in this newsletter are solely those of Tom Crone and others being quoted and do not necessarily reflect the opinions of Coldwell Banker Burnet or its affiliates.