Signature Economic Stimulus Plan

Signature Economic Stimulus Plan. Bad News, Good News

The economy is bad and getting worse. There doesn't seem to be any immediate end to this one. That's the bad news. The good news is that our apartments are the perfect solution to the current economic problems.

People overspent through this decade and now its payback time. Living in a Signature Community offers an affordable value alternative that will keep many families from going broke. And if they do it right they can take advantage of our jump start home ownership program and make life even more rewarding in the future.

Someone making less than $50,000 cannot afford to live in a $250,000 home, period! Even with the best of interest rates with real estate taxes and all other expenses, that home is costing them over $1500 month. A comparable apartment in a Signature Community is $1000. That's a $6000/ year savings (more than 10% of household income) and more than 10 times what the average household was saving the first part of this century.

It is our job to make residents at Signature Community feel at home and understand that the best thing they could do for themselves and the US economy is to start saving. Instead of accepting President Obama's proposal to reduce their mortgage payments people should be moving out and moving into a Signature Community signing a long term lease and start rebuilding a sustainable life. The Obama proposal is only going to let them be cash poor for the next decade. Whereas the Signature Stimulus program will put them on the road to savings almost immediately and long term will allow them to buy a home in the future.

It is our job as one of the leading providers of rental homes in the country to educate consumers so they start making the right decisions and start thinking about the future of themselves and the US.

Interestingly, we are also doing this with sellers of apartment buildings all over the country. Many, many sellers bought in to the market over their heads and now they need the same assistance that our residents need. Everyday our acquisitions group is working with a seller who needs to renegotiate his mortgage with his/her lender so that he can sell and move on with his life. We have sellers that have been paying hundreds of thousands of dollars a year to own a building that is worth less than its mortgage. Sound familiar?

The next 18 months are going to be revolutionary in the Real Estate market. Millions of homes need to re positioned by the banks/owners and the same goes with thousands of apartment buildings throughout the US. Signature Community could be instrumental in the process of revitalizing the US economy. I don't agree with President Obama on the solution, my idea is that the federal government shouldn't subsidize property owners who can barely afford their payments. Government should act a safety net not a crutch. If you give people a crutch, they will be in over their heads for a long time, if you provide a safety net, they will have an opportunity to bounce back up. We are providing safety nets.

Let's go out there and save the economy.
Nick