Fluid Deadline?
Posted on Created: Thursday, 17 September 2009 15:25
The impact on the 8,000 dollar tax credit for first-time buyers can hardly be argued.  Experts say that the credit has produced several thousand sales that would not have occurred otherwise.  The credit has provided a much-needed surge in home purchases as buyers race to claim the credit before it expires in mid-November.  The question now is what will we do once the credit is gone?                 We can hardly afford to have a drop in home purchases, and that drop will surely happen once the tax credit expires.  The question is how do we sustain the effect that the credit has had?  There are those that argue that the tax credit didn’t have much of an effect, because it only applied to people who would have bought a home anyway.  But that cannot be known for sure.                  Some argue that we must sustain the credit indefinitely to get the real estate market back on track.  However, that would cost the government a heck of a lot of mon ...
 
Obama's New Proposal
Posted on Created: Wednesday, 16 September 2009 11:05
You probably remember Obama’s first attempt to fix the fledging economy.  Yeah, the one that failed to meet the needs of thousands of Americans.  It was an honest attempt, and true, it did help out many people, but the fact of the matter is that over 80 percent of those eligible for loan modification under Obama’s program were not helped at all.                  These numbers are surely not good enough to get the real estate market back on its feet and save people from getting their homes foreclosed.  However, Obama is proposing a new program that takes on a different aspect of the problem.                 Part of the reason why all of this started was because Americans were signing contracts provided to them by shady, deceptive lenders.  These lenders swindled money from the homeowners until there was nothing left, in many cases.  Now, what Obama is proposing is the creation of a Consumer Financial Protection Agency, which would protect the c ...
 
Desolation and Rejuvenation
Posted on Created: Tuesday, 15 September 2009 11:40
The recession has affected thousands of Americans.  In the past few months, and even going back a couple of years, home values have been steadily declining, homeowners are losing their jobs and the means to pay their mortgages, and foreclosures have been on the rise as more and more Americans are pushed out onto the streets.  More than half of America has reported consistently getting less sleep because they are worrying about the economy and their overall job security. This sort of recession is almost unprecedented.  Although some of these figures have been improving recently, the relief is likely temporary, as the deadline for claiming an 8,000 dollar tax bonus for first-time buyers is fast approaching.  Numbers will soon be back where they were a few months ago if Obama’s loan modification program does not jumpstart the economy.    Unfinished buildings, unkempt homes, and deserted construction sites have become the hallmarks of this era.  These blemishes stain the clean ...
 
Buyer's Market Cautions
Posted on Created: Monday, 14 September 2009 12:02
Buyer’s Market.  For the last few months, you have probably been hearing the term being thrown around.  Not inaccurately, either; with the current state of the real estate market, sellers really don’t have much control of their situation.  Because of the previously low demand for houses, a homeowner is really at the mercy of whoever wants to buy.                  Buyers beware, however.  As many families looking to buy a home have learned, you should not live and die by the term “buyer’s market”.  Just because it is a buyer’s market does not automatically mean that you will get first dibs on a home.                 According to one family, a consistent pattern is emerging in the real estate market; houses above 500,000 dollars are sitting stagnant on the market, while those below 500,000 are selling like hotcakes.  That means that unless you are in the 500,000 dollar price range, you will likely have a lot of competition for whichever ...
 
Mortgage Applications Soar
Posted on Created: Thursday, 10 September 2009 15:27
In late May, housing applications surged as first-time buyers took advantage of the opportunity to get an 8,000 dollar tax credit for purchasing a home.  Since then, though, home applications have dipped considerably, leading some to wonder if the recession would last even longer than expected.                 Well, good news for those doubters.  Home applications have skyrocketed to their highest levels since that boom in late May.  The increase has provided many skeptics with a sense of confidence about the state of the real estate market.  Still, this increase may be due to the tax credit for first time homebuyers, since the opportunity to acquire this credit does not disappear until mid-November.  We will not know this for sure until the time comes, though.                 While these figures have improved the outlooks for many economists, others are not as satisfied.  They say that with the current unemployment and foreclosure rates, it would ...
 
Foreclosures and the Economy
Posted on Created: Wednesday, 09 September 2009 19:49
Economic times are tough, and President Obama’s new program has not had the desired impact on the economy that experts hoped.  According to a recent study, only about 12 percent of homeowners eligible for loan modification under Obama’s new program have received it.  That means that 88 percent of all homeowners that are in financial trouble and are in search of a loan modification are still waiting around to be helped.                  This is a very bad thing, considering the rising rates of foreclosures.  One expert said that even if President Obama’s program was a complete success, we would still be seeing millions of foreclosures.  This means that we cannot afford to have the program go astray if we have any hope of resurging the flailing housing market.                 And the housing market is a small piece of the American puzzle.  Experts agree that the success of the American economy is largely dependent on the housing market, and th ...
 
Economic Stress Test
Posted on Created: Tuesday, 08 September 2009 12:08
The verdict is in…Chicago, Illinois, is the nation’s “most stressed-out” city, for the second year in a row.                  This annual examination has just taken place, and it appears as if Chicago takes the cake again.   Criteria for stress include the cost of living, unemployment rate, and other such issues.                  So what makes Chicago the nation’s most stressed out city?   Well, factors like the weather, daily public transportation, and the immense job losses experienced by residents of the city have something to do with it.                  In a time like this, however, this may be more than just a fun survey.  America is in real economic trouble, and this survey is a way of determining the effect that the economic crisis has on everyday citizens.                 The results are somewhat troubling.  Over a quarter of those surveyed said that they have consistently lost sleep over the ...
 
 
 

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