Move would help homeowners and buyers with good credit, but would do little for troubled borrowers
http://money.cnn.com/2008/12/03/news/economy/treasury_mortgage_rates/index.htm?postversion=2008120319
How long will the recession last?
Longer than past downturns, and Wall Street's meltdown will slow the recovery…
http://money.cnn.com/2008/12/03/news/economy/karydakis.recession.fortune/index.htm
The details include:
…the fact that the recession is now already 12 months old, and clearly not approaching its trough yet, raises the distinct prospect that it will exceed the length of the 1973-75 and 1981-82 recessions (both at 16 months), making it the longest since the Great Depression (43 months, from August 1929 to March 1933). The crowd fond of making comparisons to the Great Depression will be quick to declare some kind of victory on this one.
Second, the prediction that this recession may end around the middle of 2009 is not unreasonable, but even if accurate it disguises the critical question: What kind of a recovery is likely to follow? The answer is: probably a gradual one, unlike the more typical (but not universal) pattern of the economy coming out of most past recessions roaring ahead, propelled by pent-up consumer demand.
The healing process of a deeply wounded banking system, that has already led to nearly $1 trillion of write-downs, will act as a weight around the neck of any economic recovery in the latter part of 2009. Banks will likely continue the slow process of recapitalization and cleaning up…
So a Gradual Recovery is what to expect. Do not look for a specific marker to show you the bottom of the market. There will not be one. Pull your Cash together and let’s buy you an income producing property.
Call me to review your financial options in dependable Los Angeles residential income properties.
Keith Lambert
310-391-0821
www.REList.net
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