In the midst of the real estate boom of 2004 and 2005 many of my friends and clients were investing money in multiple properties.  As the media hyped the rising home sales and the increase in value, the thrill of easy money encouraged the public to invest it all to day trade properties like game pieces on a Monopoly board.  In search of the “American Dream”, savings accounts, 401Ks, and retirement accounts were invaded. Business and primary residences were thrown in the mix by drawing on the equity which had become overinflated in the process.  One deal became two - and then another  - and another.  In the environment of “flipping” real estate like IHOP flips pancakes, I issued a strong warning to my friends and clients. “This cycle is like a game of musical chairs. When the music stops – and it will – you had better have your butt in a chair or it will hit the ground with a very large thud!”  Many did find themselves on the floor stuck with over-mortgaged under-valued properties and attempting to maintain  a financial foothold.  This “American Dream” became a nightmare and the country had to wake up and smell the coffee.   The effects have been far-reaching. People who were not involved in the financial frenzy have unwillingly been thrust into the monetary madness as the economic adversity threatens their jobs, their homes, their lives.  Quick fixes may interject cash into an account. Financial growth, however, is a process, that requires a level of monetary maturity rather than momentary monetary madness.

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