A New “Economic Watch” Category to Keep Up With Turbulent Financial Times
By: Drew Meyers, Zillow Business Development Specialist | September 22, 2008
From the Bears Stearns fallout to the government takeover of Freddie Mac and Fannie Mae to the buyout of AIG to the recent bailout proposal, everyone seems to want to talk about the economy — and members of the Zillow community are no different. Just look at these recent threads:
- Oil up $25 today
- Treasury’s Plan is Breathtakingly Awful
- Dow down a staggering 372 points today due to bailout uncertainty
- The EXPERTS still wrong! Don’t buy yet! (most markets)
With that said, we wanted to give everyone a heads up that, by way of popular demand (and I mean DEMAND), we created a “Economic Watch” category within Zillow Discussions for people to discuss the latest economic news and its impact on the housing market.
Enjoy!
- Stumble it!
- Categories: Mortgages, Real Estate
Comments
2 Comments so far
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dencard on September 23, 2008 5:42 pm
The bailout-as proposed is a boondoggle to make Paulson’s buddies whole, with no oversight.
A better plan would be for the treasury to buy all delinquent mortgages at 50% from the banks servicing the loans. Subsequently, set up an RTC to resell the homes or renegotiate with buyers who were duped (not just greedy) Total cost about $350 bil in front with total recovery from the clean-up.
Bernanke and co. say the problem is the non-performing loans that shouldn’t have been made, right? Well, this settles that mess.
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