After inheriting the worst economic downturn since the Great Depression, President Obama has poured vast amounts of money into great efforts to stabilize the economy. Including the financial system, the automotive industry rescue and the housing mess.
However, he tried to finesse the cleanup of the housing crash, rejecting unpopular proposals for a broad bailout of homeowners facing foreclosure in favor of a limited aid program- and a bet that the recovering economy would take care of the rest. The jury is still out on that bet!
Aside from the 1st time homebuyer program that temporarily propped up the housing market 2 years ago. There is really only 1 answer. And that is that left to its own devices the market will correct itself, as it has always done in the past. Granted, the low interest rates are a necessity. But the Law of Supply and Demand will continue to dictate the housing market as it has always done!
Author:Andy Walker Phone: 201-424-8628 Dated: October 4th 2012 Views: 1,574 About Andy: Having lived in New Jersey for over 20 years, I have been a top producing Realtor and member of the ...
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