With all that is going on the economic world right now, I was thinking back to another time that our country faced it's worst economic crisis, the Great Depression. I was reading another Real Estate Agent's blog talking about the need to not fear, http://activerain.com/blogsview/729684/We-can-t-afford to be scared and I immediately thought of Franklin Delano Roosevelt's first inauguration speech. I googled the speech and found it to be very interesting. Here we as a nation faced unprecidented uncertanty and on March 4, 1933, this newly elected President spoke this with a reassuring voice:
I am certain that my fellow Americans expect that on my induction into the Presidency I will address them with a candor and a decision which the present situation of our people impel. This is preeminently the time to speak the truth, the whole truth, frankly and boldly. Nor need we shrink from honestly facing conditions in our country today. This great Nation will endure as it has endured, will revive and will prosper. So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and vigor has met with that understanding and support of the people themselves which is essential to victory. I am convinced that you will again give that support to leadership in these critical days.
What great advice for us today, it is the fear itself that causes the panic. I also believe that in the Real Estate market here locally our biggest problem is that well qualified people are finding it difficult to use their good credit rating to be able to purchase a home. There is a great inventory, and with interest rates staying low, it is a great time to buy; especially if you have a large down payment. We have talked to several of the Mortgage people here in Cedar City, and they assure us that there is money to be loaned. The fear that grips the Nation shouldn't stop good people here locally from looking to buy a home. Our factories are still running and with the Iron Mines opening last month, they will be bringing more employees on as production requires them. So the economy in a small degree, much like Real Estate is a local issue as much or more as it is a Nationwide issue.
My father went to his grave believing that FDR was one of the greatest Presidents that ever lived. My father was a young man when FDR gave this paragraph in the first of four inauguration speeches. He grew to adulthood during the FDR administration as did many of that great generation. I share FDR's optimism some 75 years later, this is a great Nation, we have faced difficult times before and overcome them. We will overcome this challenge, but we won't do it by living scared. Regardless of what happens on Wall Street, the sun will come up tomorrow and we will have lives to live, families and friends to love and cherish. Let's not buy into the hysteria that the media is selling us. I am not saying don't pay attention to what is happening, that isn't the smart thing to do. What I am saying is living scared isn't a good way to live, knowledge and fear are seldom the same thing. Have a great what's left of the week!