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Real Estate, Housing And The 800 B Dollar Plan
Monday, February 2, 2009
Well, its on it way. The largest government spending plan in world history. The governments plan to spend more than 800 billion dollars over the next few years head's to key government officials to accept or deni the package.
Obama's stimulus package has an estimated 50 to 100 billion set aside to help stop the foreclosure crisis from deepening the real estate housing market. One of the key questions will be how this money gets used. The government has been spending money and setting up programs to slow the foreclosure crisis, with no affect.
So, lets hope Washington can get their act in gear and get the stimulus packaged passed. With any hope we will start to see the housing inventory decrease and home prices in the United States start increasing again.
Another proposed program from Obama is to allow 4% interest rate financing for home owners who refinance or purchase a new home. This could help in the short term. People who save money on paying their mortgage will spend this money on good's and services which will help increase our economy.