Boomers & the Mortgage Crisis -- Help Your Neighbor--Buy Housing and Provide It as Resonable Rents or Prices

I never think of the future, it will come soon enough, says Albert Einstein (www.alberteinsteinblog.org). He makes the point that if you are too future oriented you miss you life right now. I agree and disagree with this insight. If you never think of the future, you might end up as many home owners have--which is--OUT. Even some renters are out on their ear, because their landlords have not looked ahead adequately. But I do agree in general that if you ONLY look ahead you miss life right now and so you have MISSED life by never living it here as it is actually happening.

I am hoping that some boomers will boomerang by banding together, buy devalued homes, fix them if they need to be and then find a way to offer them to families and people in need of housing.

But a word of caution here. As with any real estate purchase and especially when the sharks will be swimming, look carefully at the contracts. Make sure you get a fine tooth inspection. Follow the rules of responsible home buying. Don't look for get rich quick financing. And if you partner, be clear about your responsiblities to and with each other.

I think boomers can do a good turn here. They can make some money and provide help to families and people who need housing.