Real Estate- Economic Market Update for the week of September 12, 2011
Real Estate- Economic Market Update for the week of September 12, 2011
As you know not only do Realtors, but Fed Officials and Lawmakers would like to see a boost in the economic growth. The Challenge is “how to do it”.
The Fed Chairman Bernanke stated that the Fed will consider additional stimulus ant the next meeting on September 21st, 2011. What does that mean to the average buyer and seller of Real Estate?
In simple English the Fed Chairman gave no indication what if any action the Fed will take. That means they are divided and do not have a clear decision on whether to easy monetary policy or not. Some of the Fed officials came out in favor of additional monetary stimulus to lower the unemployment rate and hoping to improve the current high unemployment numbers. So in a nutshell lack of action at the moment and postponement (stalling until the next meeting).
In other words they are still weighing the costs vs. the benefits of different programs and what effects it will have on the Economy.
This to me is unacceptable. IF these people cannot figure out, that the government has spent an enormous amount of money over the past few years on “stimulus programs” with little or no tangible results, than they should not be in that position to decide what to do next.
We do not need analysts to disagree about the effectiveness or the lack of. All they have to do is talk to the people in the Trenches, the businessmen and businesswomen and ask them what they need. The answer is very simple less Taxes, less Government Restrictions on all facets of the economic spectrum and then confidence will return.
This is very easy if one does not over think the problem and use basic common sense. One thing is sure the next Fed meeting will have substantial impact on the Mortgage Interest Rates. So if you want to take advantage of these low rates, buy now before interest rates will have the only way it can UP.
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.
