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With media attention commonly concentrated on foreclosed homeowners, this article will take a brief look to consider the impact on homebuilders such as Isaac Toussie.

Embittered homeowners who have been foreclosed upon have taken to trashing the property before getting kicked out, with anecdotal estimates by real estate agents putting the number of such vandalized properties at up to half of all such units. But given all the media coverage of foreclosed homeowners, it’s time to take a look now at how the same crisis is affecting homebuilders like Isaac Toussie. After all, many of the small-time businessmen had to take out loans in order to finance their housing developments. Of course, there are no such developers out on the street, and their cases, unfortunate in themselves, are not anywhere near comparable to that of homeowners who have nowhere to go at all. But it’s useful to see how things can turn out for businessmen and women caught up in the same economic hurricane, and how responses can differ – or not.

For example, many small homebuilders have had to dip into personal savings just to keep their companies afloat, a familiar state of affairs to many homeowners. Buyers were disappearing with cash deposits of several thousand left on the table, proof that local residential property markets had turned ice-cold. Even more unfortunately, many homebuilders have proceeded since then to file for bankruptcy protection, with vast sums owed not only to their lenders but also their subcontractors and workers. But still worse yet, these small-time builders have often financed their businesses with so-called recourse debt which allows banks to seize homes, cars, and other personal assets in case of default – again, quite a familiar scenario comparable to that faced by many homeowners.

Such predicaments have increased and are now considered commonplace across the country. Many a builder has been left with unsold units and land, falling behind on interest payments and facing foreclosures. And in a very bad sign of the extent of the destruction involved, even very large homebuilders are in trouble, with legendary builders such as Levitt & Sons, founders of Levittown, New York on Long Island, famous for epitomizing postwar suburbia, forced into bankruptcy like some small unfortunate start-up.

It’s gotten so bad that once solid partnerships and friendships have frayed as an every-man-for-himself mentality creeps into the proceedings. Contractors and subcontractors have had to take out liens on the property they build in order to protect themselves. And it is in this manner that the problems of homeowners and homebuilders differ: the latter have almost no hope of any governmental assistance whatsoever, despite being affected by the same subprime mortgage industry shenanigans that’s made owning a home so suddenly onerous.

Legal Disclaimer: Be advised that such information as has been presented so far only constitutes mere opinion and should under no circumstances be misconstrued for professional advice of any kind whatsoever! Always consult those properly licensed and/or otherwise qualified when it comes to making business decisions of any financial importance.

Though the existing economic chaos has also affected Connecticut realty, industry experts like Isaac Toussie believe that there’s no danger of oversupply in Connecticut mainly due to the state’s inventory levels being rather constant, probably because of Connecticut’s housing escaping the kind of speculation other places have seen. Such a happy event is probably also on account of the fact that Connecticut is home to some with the most expensive land anywhere in the country after California, with over three percent of them priced around a million dollars as of the year 2000. Southwestern Connecticut lies within the greater New York City metropolitan region, but areas further away, such as those communities in the northeast, are best described as luxury retreats for the monied classes, given median home values in the multiple of millions.

There can be a lot of “upside” to Connecticut realty. Condominium inventory in Connecticut are actually at steady ranges despite the financial downturn of late, which is really an extremely positive sign that bodes well for the overall real estate market there. Connecticut land ought to be fine pretty soon. Investing in commercial properties there is typically a good bet even in this economy. Slow but steady growth has marked the history of Connecticut property for a while. In truth, despite of the current financial meltdown these days, the State of Connecticut has not witnessed a lot of overly dramatic shifts.

The Danbury Fair, the state’s largest shopping mall, is a case in point. Founded in 1947, it has three levels, forty-seven shops, and nearly four hundred thousand square feet of retail space. Industry experts like Isaac Toussie feel that once the New York City Metropolitan Area recovers, retail outlets like this one in Connecticut will follow right along. Indeed, three of the state’s eight counties, which also happen to house most of the population, make up the Tri-State Region of New York, New Jersey, and Connecticut.

In spite of such proximity to a world-class metropolis like New York City, it should be noted that Connecticut was never that hot a real estate market, so it shouldn’t be surprising that Connecticut has endured the housing scandal and its subsequent crisis much better than many other states. Indeed, once-industrial and then dilapidated Waterbury now attracts newcomers, most notably Orthodox Jewry, a welcome development that has brought new life to the local economy.

Certainly, Connecticut has in fact done well relative to states like Florida, Nevada, and even California, for sales are already reported to be running at about 70% of 2008 levels, and though median prices have moderated they are at least not nose-diving! Yes, mortgages are harder to come by, but a lot of this is because of the long-overdue correction of slipshod lending practices in the first place and is actually, in the long term, a positive development for Connecticut’s economy.

Having said all that, readers are still advised to consult those properly licensed and/or otherwise qualified when it comes to making business decisions of any financial importance as neither author nor publisher shall be held liable for such information as has been presented so far, which only constitutes mere opinion and should under no circumstances be misconstrued for financial advice of any kind whatsoever!

A wealthy person like Zalman Silber is broadly acclaimed for making a lot of money and giving it away. From a certain perspective, that is the best of all worlds, to be a winner in life with access to the world’s luxuries while also doing good: to be admired for one’s material achievements as well as spiritual aspirations.

Yet for all the Zalman Silbers of the world, there is a world of difference between being and having. Many mix up having with being – the more they have, the bigger they are, as if a better person is produced by ever more goods. Yet real good comes about not from possession – or, even, good works – but from being, true being.

It is a hard thing to fully understand, as most of us take life very much for granted. We believe that to be is the simplest thing in the world – but we discount our own humanity in supposing that, plant-like, all we need is some light and water and we are all that we can be.

No, not even having a beachfront mansion with a helicopter out front and a yacht out back on your very own island makes you all that you can be. To be fully human, we must also understand deprivation, fear, want – we must experience life in all its totality.

We must empathize. For the act of empathy makes us most human – the exercise of our imaginations, the use of our unique ability to almost literally put ourselves in another’s stead.

And hence the difference between being and having. One sees this very clearly in a classroom, even in college, where most students scribble away furiously, taking down notes as the professor speaks. Yet how much are they really retaining if half their brains are busy recording what was said instead of being fully engaged in what is said?

Full undivided attention means precisely that. It is the total direct no-holds-barred personal experience of what is going on, what is being said – and what that means in all its implications. In the act of note-taking, however, one is necessarily forever playing “catch up,” with a significant amount of one’s attention focused on the act of recording – and editing, moreover: a necessarily “distancing” set of behaviors.

It is as if these students imagine that the very having of some notes of the lecture constitutes knowledge itself – literally having knowledge – while the fact of the matter is that one best knows, most completely knows, in the direct experiencing of what is to be known.

This direct experience does not come from notes hastily jotted in a strobe light-like manner. It comes from being fully in the moment, as opposed to standing outside of it recording.

With media attention typically concentrated on foreclosed homeowners, this article will take a brief look to consider the effects on homebuilders such as Isaac Toussie.

Embittered homeowners who have been foreclosed upon have taken to trashing the property before getting kicked out, with anecdotal estimates by real estate agents putting the number of such vandalized properties at up to one half of all such units. But given all the media coverage of foreclosed homeowners, it’s time to take a look now at how the same crisis is affecting homebuilders like Isaac Toussie. After all, many of the small-time businessmen had to take out loans in order to finance their housing developments. Of course, there are no such developers out on the street, and their cases, unfortunate in themselves, are not anywhere near comparable to that of homeowners who have nowhere to go at all. But it’s intriguing to see how things can turn out for businessmen and women caught up in the same economic typhoon, and how reactions can differ – or not.

For instance, many small homebuilders have had to dip into personal savings just to keep their companies afloat, a familiar predicament to many homeowners. Buyers were disappearing with cash deposits of several thousand left on the table, proof that local residential property markets had turned ice-cold. Even more unfortunately, many homebuilders have proceeded since then to file for bankruptcy protection, with vast sums owed not only to their lenders but also their subcontractors and workers. But still worse yet, these small-time builders have often financed their businesses with so-called recourse debt which allows banks to seize homes, cars, and other personal assets in case of default – again, quite a familiar scenario comparable to that faced by many homeowners.

Such scenarios have increased and are now considered widespread across the country. Many a builder has been left with unsold units and land, falling behind on interest payments and facing foreclosures. And in a very bad sign of the extent of the destruction involved, even very large homebuilders are in trouble, with legendary builders such as Levitt & Sons, founders of Levittown, New York on Long Island, famous for epitomizing postwar suburbia, forced into bankruptcy like some small ill-fated start-up.

It’s gotten so bad that once solid partnerships and friendships have frayed as an every-man-for-himself mentality creeps into the proceedings. Contractors and subcontractors have had to take out liens on the property they build in order to protect themselves. And it is in this manner that the experiences of homeowners and homebuilders differ: the latter have almost no hope of any governmental assistance whatsoever, despite being affected by the same subprime mortgage industry shenanigans that’s made owning a home so suddenly onerous.

Legal Disclaimer: Be advised that such information as has been presented so far only constitutes mere opinion and should under no circumstances be misconstrued for professional advice of any kind whatsoever! Always consult those properly licensed and/or otherwise qualified when it comes to making business decisions of any financial importance.

Quick and easy business loans – that’s the name of the game for some businessmen and women each day as they battle to find financing in spite of poor personal credit histories. Sadly, banks don’t want to deal with anyone who isn’t a fairly safe bet (the subprime scandal notwithstanding), so that’s a no-go right there. However, there is one method available still, that of the cash advance.

Provided by banks, Small business loans are the initial step towards a starting company. What is expected of the entrepreneur is all but failure by the lenders. They rather become convinced that the business owner will not fail them at all but the disadvantages from location, competition, or even the demand for such merchandise contribute in the downfall of the neglected businesses. But either way, the banks get their money.

You can think of this as something of a financial device that permits you to borrow money without having to endure some stuffy loan officer’s skepticism. It’s all quite simple, usually: depending on the source, you just need to have a few months’ worth of credit card receipts to verify income. Then you’re advanced money against anticipated future earnings! Now how’s that for “fast business loans bad credit” – in and out in just a couple of hours!

The key, obviously, lies in those credit card sales. They strongly suggest the long-term viability of your business, so naturally you can’t just borrow money if you’re simply sinking! But at least obtaining a cash advance can help get around bad credit issues.

It’s all so easy. With proven sales, you no longer have to worry a lot about getting the capital you need to expand, hire new employees, or make necessary renovations. Need new equipment? Want to move to a better spot? Whatever it takes to get your business onto the next level of accomplishment, cash advance financing can make it happen. It’s the best kind of fast business loans anywhere, because it isn’t concerned with awful credit – which is to say, the past – but focuses, as you do, on the future, as based on present sales!

What is needed are some months of credit card receipts. This confirms your income like nothing else, and it assures the lender of automatic repayment every month once you are approved. It’s a classic win-win scenario for all! Only a small previously agreed-upon percentage of those credit card sales will probably be used to repay the advance: you will get to keep all the cash and checks! Furthermore, by using a percentage of such sales rather than a fixed amount every month regardless of how well your business is actually going, you are afforded flexibility and convenience which makes for your reassurance. You only make repayment because you are paid yourself – a most equitable arrangement. After all, it is in the interest of your lender to be refunded frequently, and making repayment relatively easy benefits both parties.