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Will the Stimulus plan spark the housing market?

By Emerald Coast Realty

Real Estate Broker/Owner with Emerald Coast Realty

January 29, 2008 02:34 AM

The article in cnnMoney.com "Stimulus plan also sparks housing market"

The measures would make mortgages easier to get and reduce borrowing costs -- especially in hard-hit, high-cost housing markets. Read more

I don't think this is as great as it seems on the surface. How will this affect real estate sales? I understand Fannie Mae guidelines now require 30% down. That's $180,000 on a $600,000 home. Looks like a big out of pocket contribution from buyers that have gotten used to little or nothing down.
http://www.gibbons-realty.com/
Pensacola Florida

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Chris Frantz

EDU Real Estate Group - Indianapolis, IN

I think the housing market will rebound when buyers think its the best time to buy. So if the press would stop scaring them with exaggerated stories. Why do they go out and find the worst possible example of my house was worth X and now its worth Y.

Jan 29, 2008 02:53 AM

Esko Kiuru

Bethesda, MD

Kim,

This so-called stimulus program is more political posturing than anything else and just adds to our huge budget deficit a chunk of money. Besides, it's too late to make much of a difference because the system is already working to correct past mistakes.

Jan 29, 2008 03:07 AM

Karl Burger

ERA Beach Ball Realty - Pensacola, FL

Pensacola Real Estate News

I think we're going to have a hard time with buyers being able to come up with the downpayments required, even for lower value homes. I don't have a lot of faith in this stimulus package. I agree with Esko, I think it is a lot of political posturing. But, I'm always hoping for the best.

Feb 15, 2008 01:26 AM