By the time I finish law school, I will be over a quarter of a million dollars in debt.
I can't really fathom what is going on with our economy. I understand that home values are speculative. I also know that people were allowed to borrow more money than they should have been. I know what a sub-prime mortgage is. I know what a mortgage backed security is. I understand that people essentially stopped making their mortgage payments. I'm clear on short sales. I guess what I don't really understand is how all of these pieces fit together exactly, to the extent that our economy is completely fucked right now. Maybe I'm not smart enough to see the big picture. But I'm not hearing from anyone else exactly how it should be fixed, either. I do think that home ownership/valuation will be completely redefined by this recession.
Which leads me more or less to the point of my post. Between my mortgage and my school loans, I'm going to owe a number of banks, and the government (indirectly), >$250,000.00 by the time I go to take the bar. Throughout my entire, albeit brief, young adult life, I've concentrated my professional interests on real estate...specifically new construction housing. I chose a law school based on its real estate law curriculum. My intention was to leave law school and return to the world of housing and make a wage such that I could pay back these hefty notes yet live comfortably. Call me cynical, I just don't see that happening.
Im not confident (anymore) that the economy will recover in the three years it will take me to finish school. They're saying that it's going to get worse next year, and I have no reason to doubt that. I guess what I'm getting at, is that I'm going to keep my options open. You bet your ass there will be ample opportunity in bankruptcy law 3 years from now. And for as vicious and crazy as divorce law could be, I would probably take some sick pleasure in that shit, and people will never, ever stop getting divorced. Anyways, I'm keeping my options open.
Gotta make that paper.
Which leads me more or less to the point of my post. Between my mortgage and my school loans, I'm going to owe a number of banks, and the government (indirectly), >$250,000.00 by the time I go to take the bar. Throughout my entire, albeit brief, young adult life, I've concentrated my professional interests on real estate...specifically new construction housing. I chose a law school based on its real estate law curriculum. My intention was to leave law school and return to the world of housing and make a wage such that I could pay back these hefty notes yet live comfortably. Call me cynical, I just don't see that happening.
Im not confident (anymore) that the economy will recover in the three years it will take me to finish school. They're saying that it's going to get worse next year, and I have no reason to doubt that. I guess what I'm getting at, is that I'm going to keep my options open. You bet your ass there will be ample opportunity in bankruptcy law 3 years from now. And for as vicious and crazy as divorce law could be, I would probably take some sick pleasure in that shit, and people will never, ever stop getting divorced. Anyways, I'm keeping my options open.
Gotta make that paper.