What's crackin', friends and frienemies? Happy Friday.
My column this week is about a young woman, Yanira Doyle, who is surviving South Florida's real estate crisis right now, because she used her head before the crisis struck. We need more Yanira Doyles buying houses:
Basic logic could have prevented real-estate mess
By JAMES BURNETT
Yanira Doyle could easily be a prophetic figure in the South Florida real-estate market, and all because she didn't let her eyes get bigger than her stomach.
Before the housing market began to slide sharply downward two years ago, Doyle, then a 26-year-old prospective home buyer who is not psychic, saw the future and weighed her options accordingly:
Buy a gleaming condo in a shiny tower on the beach and fit snugly into the sometimes skewed impressions distant friends and relatives have of South Florida, based on Travel Channel shows -- or buy a place where monthly expenses weren't so high that Doyle couldn't maintain it, pay her other bills, and continue to build a savings account.
Doyle, featured recently on the WLRN FM 91.3 radio show Under the Sun for her uncommon sense, opted for the latter. ``It was a no-brainer to me,'' she says. ``You buy what you can afford.''
Don't scoff at the simplicity of Doyle's logic. Unless you've had your head in the sand for the past couple of years, you know that there are plenty of South Floridians and prospecting interlopers who did just the opposite of Doyle and now find themselves in trouble.
For all the academic and government studies on what went wrong, it can be summed up like this: There is an anti-Doyle attitude pervasive in South Florida, an attitude that says, I can only achieve the American Dream by keeping up with the Joneses . . . even if the Joneses earn more money than me.....
Go here to read the rest of the column.