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Updated over 16 years ago on . Most recent reply

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Pedro Gonzalez
  • Real Estate Investor
  • Miami, FL
0
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59
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Government's Financial Rescue Plan, Will It Energize The Weak Real Estate Market?

Pedro Gonzalez
  • Real Estate Investor
  • Miami, FL
Posted

The Bush administration developed an effort to confront the worst U.S. financial crisis in decades, describing a plan that could cost taxpayers hundreds of billions of dollars to buy up bad mortgages and other toxic debt that has unhinged Wall Street. As Federal Reserve Chairman Ben Bernanke, acknowledged that the program will put a "significant amount of taxpayers' money on the line."

The government steps were clearly welcomed by financial markets and the Dow Jones industrials were up over 300 points and at one point had soared by 450 points.

Also, Mr. Paulson said mortgage giants Fannie Mae and Freddie Mac will step up their purchases of mortgage-backed securities to help provide support to the crippled housing market. As you know, the government seized control of the mortgage giants this month.

Will these measures energize our weak real estate market?

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