wonder the president isn't touting his economic record. There's
very little to brag about.
A local real estate broker recently told me of the problems her
customers were experiencing with federal refinance programs
throughout our San Diego County. She estimated that only about 10
percent of her customer's refinance efforts provided by the federal
government would actually take place -- despite the long
According to leadership from her local Real Estate Board
Association, it is estimated that as many as 150,000 homes could be
foreclosed in this region by the first quarter of 2013. Obviously
the number of predicted foreclosures by that Association is
alarming. Still, this seasoned broker believes that this action
will only add to the growing real estate inventory and will further
depress an industry that is already hurting around Southern
For years the real estate industry in California accounted for
as much as 40 percent of the business growth in our region. With
the recent recession, residential and commercial values have been
badly affected. Building of new homes is at a standstill -- and
according to a large, well-known commercial contractor,
unemployment in the building industry hovers around 40 percent.
In the county, commercial vacancies are everywhere to be found.
In upscale sections of San Diego, it is not uncommon to find five
or more vacancies per block. In North County (a region of San Diego
County), huge commercial sites have gone vacant for months. But
such stories are not limited to Southern California alone.
Over the last three years, I have traveled to almost a dozen
states (Oregon, Arizona, Hawaii, Florida, Montana, Pennsylvania,
New Jersey, Nevada, Indiana and Kentucky) interviewing people and
later promoting my new book (16 Amazing
Stories). I have talked to friends and locals who live in
these states and all confirm similar stories: the real estate
market has been hurt in their regions, too.
It's no wonder. Despite the fact that record numbers of people
have left the roles of the employed, true unemployment is actually
hovering around 12 to 15 percent. The governmentdoes not count
the folks that have been looking for a job for more than two
years. In addition, record numbers of people (more than 48
million) are on food stamps. These numbers have increased by almost
a third since Barack Obama became president.
Our federal debt is out of control as well. It is growing at
record levels -- more than $3MM each minute of the day!
Yet free enterprise continues to be checked in place by the current
administration and its regulatory agencies. Obama has virtually
shut down oil exploration on federal lands from the West to the
East coasts. On a more local level, the California state
legislature for years has been controlled by Democratic Assembly
and Senate members. This body has virtually shut down all offshore
oil exploration, despite the fact that California has over 18
billion barrels of proven oil reserves just offshore (from Santa
Barbara to Monterey County).
Just think of the number of precious jobs this would bring to
the Golden State if these reserves were open. Instead we foolishly
send billions overseas to countries like Saudi Arabia, Kuwait, and
Venezuela. All this is occurring during a time when drivers across
the U.S. are paying exorbitant amounts of money to fill up their
cars with gas. My own gas bill has increased by approximately 35
percent over the last year.
Liberal Congresswoman Nancy Pelosi (D-California) and her friend
in the White House seem to ignore the fundamental problems
associated with government bureaucrats impeding energy exploration
around our country. They ignore the fact that increased energy will
create jobs and bring with it more revenue to federal coffers.
It's no wonder that Democrats like Obama and Pelosi continue to
sidestep their miserable economic record established over the last
three-and-a-half years. It's time for a change.
James Lambert is a licensed nationwide real-estate mortgage
loan sales agent in Southern California and a regular contributor
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