In the 18 years I have sold Real estate, it's not much of a stretch to say that the last 45 days have been the most unbelievable I have ever seen. It gets to the point that no matter how incredible the news-Wamu and Wachovia gone, Lehman done, AIG, Fannie, Freddie, the market up 600, down 900...we keep waiting for another shoe to drop. I have always considered it my job to report to people what is happening with home prices. Often, I examine areas that affect pricing-loans, interest rates, new construction, population growth, business development etc, so that we can understand and predict what will happen in Real Estate. These days though I must admit, I can feel out of my league. As I study the trends of lower prices, problems with loans, concerns about job security, rising bankruptcies, and certain parts of the market just NOT MOVING, I really wanted to get a "big picture" on what is happening and more importantly what probably will happen. I
Neal's Blog
The headlines about the 700 billion dollar bailout plan were displayed dramatically on the front cover of almost every major news outlet in the country only a few weeks ago; history in the making. The largest governmental intervention in the economy since the depression. But soon the pervasive media focus shifted from that to the coming election and poll frauds, and it left many of us scratching our heads wondering what, exactly, they were going to do with all that money and how it would effect us. The answer to many of those questions remain...unanswered. But my friend Laura Langen from Southland Title put together, in my estimation, the best summary of what was signed into law, what effects it will have in the next few years, and how those effects will ultimately impact the consumers at the end of the chain. You can read that by clicking the link below. Emergency Economic Stabilization Act of 2008. The bottom line is if the Fed can use the cash to free up some of the frozen