Monday, 10 November 2008
Now that the election is over, buyer and sellers can finally move forward with their real estate endeavours. President-Elect Obama is hopefully he can help homeowners across the country avoid foreclosure. Unfortunately, budget constraints will definately curb what he can do to overhaul our financial services industry. The Federal Reserve will no doubt be given powers to regulate the private wall street securities which are widely believed to be the cause of our mortgage mess. They will, however, be challenged by foreign investors currently holding these securities, who are unlikely to cooperate in writing down these bad loans. So as we enter a new era of political history, we can hope for success in "curing the ills" of our mortgage industry. Lets help keep those who have struggled to buy a home, keep their home and give those who can afford to buy a home the resources to do so.
