Blanche Evans over at Realty Times continues to impress me with her ability to think outside the box. Add to that her ability to think practically and logically and you have a recipe for genius ideas like the one she offers in this article. The takeaway for those too lazy to read the whole article?
This hits a little close to home for me. Before I got into real estate I was getting my masters in Kinesiology and making about $15,000 a year student teaching, coaching tennis and teaching private lessons on the side. And that's being a little optimistic. But my bills and rent were always paid on time and I was content with my Ramen noodles and Hamburger Helper. When I experienced a little success in real estate I moved up to a more expensive apartment, got the HBO and Showtime package, wireless internet and upgraded from Ramen to chinese takeout. Then came a new car, house, maids, more bills, dry cleaning, fancier dinners. You get the idea. Mo' Money, Mo' Problems.
"Services, as a percentage of personal consumption, have grown exponentially. Think cell phones, cable TV, and the Internet. In 1929, services were $30.5 billion, or 29 percent of personal consumption. In 2007, services were a whopping 60 percent of personal consumption.
So here's my plan for avoiding the recession and getting housing back on track. Instead of an economic stimulus package, make the cell phone and cable companies give consumers rebates and better rates on our phone and TV services."
Today's consumer can easily and quickly become immersed in a never ending sea of bills that are the services Blanche speaks to in this article. What good is a $300 stimulus check from the government going to do for someone whose electricity bill is $350 a month? What about the person who is paying $500 a month in credit card bills with 28% interest rates? Blanche is so right on with this idea. It's just too bad it will never become a reality.