Real Estate Market Rate Cuts
The Outcomes of Interest Rate Reduction
Even if you've made it a priority to stay away from financial news outlets, chances are you're still very well aware of the economy's currently infelicitous status and the record woes the housing market has been enduring. What does the market's future hold? More importantly, is there someone who plans on doing something about it? The savior may be none other than the federal government itself.
In what's being referred to as a strategic attempt to stabilize the faltering economy and avoid a recession, the interest rate was reduced by a quarter of a percent by the Federal Reserve. Almost immediately, opinions were sharply divided between those who applauded the effort and those who discarded it with the belief that things will not be getting any better. Whose side are you on?
If you're joining the ranks of those who have welcomed the Federal Reserve's move, you may be thinking about how such a move will work favorably. Apply it to the country's current escalating credit debt and interest rate predicament and things could start to slowly go from worse to not as bad to better.
What about the staggering array of properties? In what could be deemed a case of perfect timing, reports from such sources as the NAR have predicted increases in existing home sales for next year which, when coupled with the Fed cut, could be the key factor in swaying uncertain buyers and investors to ultimately go ahead and start snapping up some of the surfeit of properties currently on sale for record low prices.
Will these projections actually happen? They may, they may not. The Federal Reserve's move does however show that efforts are being made. When that positive resurgence will happen remains up in the air and anyone's guess but at least there's some exciting possibilities to consider and entertain during these troubling times.
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