May 12, 2008
Housing Market Woes: Is Washington Doing Enough?
Housing Market Woes: Is Washington Doing Enough?
With the news continuing to be bleak (at best) around the housing market, the question is, are interest rate cuts and tax rebates enough, or should Washington be doing more to actively intervene in the struggling housing market?
The U.S. House of Representatives Financial Services Committee recently approved a sweeping bill to enable the government to finance $300 billion in distressed mortgages with the aim of helping two million homeowners.
The latest interest rate cut by the Fed took the cost of borrowing to 2.0 percent, its lowest since December 2004.
Meanwhile President Bush has signed into law a $150 billion economic stimulus package designed to spur the ailing economy by giving tax rebates to millions of Americans.
But is all this enough? Should (or could) Washington be doing more to help? We'd love to hear your opinion. Click the comment link below and give us your feedback. Your email address (although required to post a comment) will never be published here, so go ahead, sound off. We know you want to.
Comments
May 14, 2008
Eddie Carr said:
I've been involved in real estate investments so I've always looked at the real estate crisis we're in from that point of view; opportunity. I really can't imagine what Washington could do at this point to help us pull out. Washington should have seen the crisis coming when all of these loans were given. The best thing we as individuals can do to help the situation is to get involved. We can not only help those in need by picking of distressed properties but we can help ourselves out by picking up distressed properties.