If 4 of the biggest companies in the world are in trouble that someone had to take action in order not to collapse the us Economy!!! Fannie and freddie were saved by the us government.
Merrill was saved by bank of america, and now that Lehman Brother filed for bankruptcy , on my opinion , this is country is OFFICIAL in a recession .
There are many other financial institution that will go down do to the leverage power that they had which at one point it was almost 35 to 1, they had chance with 1 dollar save to use 35 dollars!!!!!!
This week the stock market will plunge , but there is good news!!!!!!!!!
with all this bad news there is something for real estate professional, that the 10 year note which is the one that determine our 30 year fixed mortgage in the US will go down drastically and that we our real estate clients will be able to pay a lower mortgage for the new home.
If you are interested in Buying or Selling real estate in New York , please don't hesitate to visit REMAX IMPERIAL for more information , and don't forget!!!
1% CASH BACK TO AL OUR BUYERS!!!!!
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