It appears that the feds are going to either take over " Fannie Mae & Freddie Mac" or bail it out in some fashion! A few weeks ago in the NY Times Sunday magazine an economist stated that either the government would "nationalize" the banks, or the mortgages!
Now I don't know about you, but to me, this is a drastic move: I call it a step toward " socialism" to some degree!
We are living in a changing world.
Most of us, I believe, are of the opinion, that we are already deep into a Recession regardless what Big Brother & Uncle Media says.
What's next? What impact will this move have on mortgage holders? Banks? And on the residential real estate business? Since the mid 1930's these financial institutions have held steady.
I'm of the feeling that such a move is only going to make "the general public" and financial markets, even more concerned about the financial health of the real estate market.
Well now is the time for all of us to hold steady! Now is the time for all of us to keep current on the overall Big Picture.
Just be prepared for more changes.
Bill McInerney
No comments:
Post a Comment