Housing Recovery

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Real Estate Agent with Good Shepherd Real Estate, LLC

Just watched Jim Cramer on CNBC, he is hot on the idea that Bernahkes  announcement will turn the housing market around, no, has turned the market around, has forced the bottom. 4% rates for everyone. He said run to buy a homes. The key to everything he said was that the housing market has to turn for us to have a recovery and thinks this is it.

My thoughts, I agree the housing market has taken us into economic downturns in the past and and has brought us out of it as well. I heard the other day that now is the BEST time for people to invest in NEW banks mainly because they start out with not having the baggage of this economy, makes sense to me, but I'll go one better. It was the recession of the early '80's that took down an industry called "Savings & Loans" federally insured financial institutions who primarily dealt with consumer savings, Mortgages and Personal Loans. What an interesting  concept, get the mortgage business away from commercial lending where one doesn't influence the other and people have a vehicle to save real money again, what do you think?

I am concerned about housing having the impact it has had in the past on a recovery this time around. I think it might get started, but run out of gas before it can have the impact we need to have the econmic explosion we need as in past recoveries. That said I do believe there is a solution, its one that is going to require the financial industry to roll up their sleeves throw out some of their rules and add a few others, if they do it right it WILL bring about recovery across the economy, thats another post. 

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Rainer
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Big Dan Corsair

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