While I am in the real estate business, I am always curious about the news from US market. Everybody knows, what's going on there for more than one year. Falling prices, 2.5 million people facing foreclosures, collapsing banks...
But US goverment knows what to do (especially when elections are knocking on the door...)! There is a problem with loans, so why not to have some more loans! $300 billions (where to take it, that's another question) is intended to serve as a help for people, to overcome their mortgage payments problems. More, goverment help for the banks Freddie Mac and Fannie Mae is planned too. And finally, market can expect brand new bureau, dealing with regulations in this market sector.
It may seem it's not our business, we are selling Toronto condos and our market is doing fine. But - I believe we should observe the world around us. Not only our own backyard. Goverments are often doing indigested steps and citizens should ask themselves: "Is this really the best, what our government can do for us?"
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