SAD day in the real estate market

Earlier today I got a link to Bryan Ellis' blog at FreeRealEstateTraining.com

His insights are typically very thought provoking and todays post was no exception. I have gotten several other emails today from various real estate news sites applauding the upcoming changes, the governments "stepping up to the plate" with a huge bail out plan and Paulson's statement that although he is seeking more authority (power) than he intends on using he is asking for it anyway. Can you imagine the Treasury buying stock in Fannie and Freddie for instance? $300 billion to back FHA loans which would not be used for new buyers, but for current home owners who are in trouble... the list goes on.. check out the legislation and would love to hear comments...It worries me that the government would take control of our housing market and that we get further entrenched in the bureacracy of the Fed's...I am following this legislation with interest but often times lack the knowledge of all the workings and the ability to see the bigger picture of how we could all be effected, but something is telling me that it can't be good. I am no economist, I am just a full time real estate agent in the trenches and what I am seeing every day is just amazing.

Below is the link:

http://clicks.aweber.com/y/ct/?l=DsZyu&m=1chmdIuqyWv7OH&b=ersAYUulOPqTjOXaxqzlcA



Gloria Handley, CRS, GRI

RE/MAX Achievers