It is easy to take a wait and see attitude and for some things that may be prudent to do. Now that some of the smoke has cleared, we have some major issues floating around Washington these days that have to be reigned in. One is unemployment. People have been unemployed for too long and have exhausted their temporary benefits
HOUSING & UNEMPLOYMENT
Now what do they do? What more can they do? This thinking was recently bought up by Federal Reserve Charmian Ben Bernanke who claims this is a National Crisis. We now have enough data complied to be able to say this. Mentioned also is the housing industries ongoing slowness to resolve its issues namely with foreclosures
NEW CONSTRUCTION CAN'T PULL US OUT
New construction, which is a typical economy booster cannot even be considered because buyers find short sales give more bang for the buck. Buying a piece of land and improving it to sell as a new home to someone has math problems when put up against short sales. Not to mention getting a construction loans may be near impossible Furthermore, the shadow inventory of homes not released to the market remains dire and looming
ACTING NOW SETS UP NEXT YEAR
Whatever steps are to be taken to correct or mitigate our problems will take time to come around and show results. The longer we wait around and see, the negative scenarios just drag out. Congress has to make this a priority and consider it on level with an act of God.
I agree with Bernanke...Let's see if his comments take root
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