Welcome to 2009. It should be a VERY interesting year in all things financial. Banks are still failing, people are still losing their homes and jobs, the stock market is in turmoil, and we have a new president about to be installed. Enough already!!!
Does anyone have ANY idea how this is all going to shake out? I mean, we are definitely in a recession, there is no doubt about that. Now, can an economic stimulus package help save our economy? I am pretty sure that will be one of the first things on Obama's desk.
How about distressed mortgages? Can the government take the necessary steps to offer a 4.5% interest rate to all homeowners? Wouldnt that go a long way towards reducing foreclosures? That is one of many options.
One thing is certain, and that is UNCERTAINTY. We just do not know where our economy, real estate market, job market, etc is going to be even one year from now. It is very tough to predict the future, especially when the present is so chaotic. There has never been such a dynamic, constantly changing financial environment. All we can do is to try and keep up with it and realize how it will affect us in the future.
Ben Blonder
Coldwell Banker
Cell 970 420 6166
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