Recent Global Financial Crisis brought about by the profiteering and speculation in the Stock Markets has made a mockery of land values and exposed the deep rooted malaise in the real estate sector.

The evolution of the term ‘real estate’ denotes that the term has no authenticity as a social institution. When the term was coined it was to denote that it was ‘real’ when in fact there was nothing real about it.

The concept of land as a commodity itself is a myth and fabrication and the notion that one can buy land and sell portions of earth, which actually belongs to entire humanity is proving to be ridiculous as the recent fiasco in States in land and mortgage has shown to the world, which is reeling under the pressure created by these myths.

Mother earth, like sunlight and starlight, can not be owned by anybody even at the national level. They are common property of not only humanity but also of all the living creatures which inhabit our earth.

The notion of nations, states and provinces has served its purpose but the time has come for humanity to understand the severe ecological crisis which transgresses all boundaries of nations. The snow is melting. The oceans are rising. The ozone layers are depleti

Across the globe, savings of many have been wiped out overnight and Millions, which were on paper, vanished into thin air.

From the practical side let us analyze the situation.

A typical North American dwelling has become unwieldy and superfluous, requiring high initial investment, heavy cash inflows to sustain and furnish, and constant drain on the income to maintain.

The typical family residence is grossly out of proportion to the requirement of the family members and expenditure is very high to fill the big house with lavish furnishing and gadgets. The result is huge investment to be repaid in long periods of installments spread over a good part of our time.

This is how the real estate game developed, distracting the masses from a genuine happy lifestyle to an indebted one.

In order to avert an impending financial and spiritual demise, the following approaches are put forward for deep reflection by one and all.

Authentic forms of relationship with land as follows:

Absence of profit motive in matters pertaining to land

Group stewardship as opposed to private property

Sustainable community ownership and

Placing ownership solely on assets like buildings, with tenancy rights only towards the land..

The main objective of thinking on the above lines is to evolve a state of custodianship as regards land in place of current ownership, which has brought untold misery to mankind.