Best time to buy houses?

With the housing market seeing a really dismal season, things may turn out to be the best time to buy houses. With not many people coming forward to purchase any new homes this may be the best time to buy houses as both the developers and builders alike are getting desperate.

You can start off by quoting the lowest price you can think of and given the current situation, that may just be enough to clinch the deal for your dream house. With the current scenario, this may just be the trick for you to get that dream house of yours for a throwaway price.

$146 Billion package passed by the house!

The stimulus plan of George bush has been passed and for the common man on the street this means tax rebates from $600-$1200. The stimulus package is one that had been designed in a hurry and the markets do not like it all that much. I have to say that I cannot blame in this; my personal opinion is that this stimulus package is too short sighted and it seems to serve more as a band aid to an all ready hemorraging economy than a cure for what ails it.

For one, it still does not address the huge problem of the credit crunch as well as that of the housing market, both of which are still intent on riding the economy far in to the doldrums. For one, had the administration envisioned a plan by which the housing rates were regulated and bought more pressure on the banks to increase their lending, that would have taken care of half of the problem. As it is, the housing market and the credit crisis barely got a mention in the 'state of the union' speech.

I think that we can all agree that George bush has some really good writers on his team and I am sure that they must have devoted whole sections of the state of the union speech to the current problems. I am betting that George bush forgot all about it and meandered on. Either way, the current stimulus plan is kind of like the 'Watergate' episode and they are still yet to learn that there is no point in closing the barn door long after the horses have escaped!

Wall street turns bleary eyes on to info for next week!

With all the battering that the Wall street had taken over the last few days, it has turned its bleary eyes on to the information like the earnings data,retail sales and the inflation data to get an inkling as to where the markets are headed. But the thing about asking for information is that it may well confirm that recession is already here.
Either way, it is going to be one roller coaster ride and there are not that many takers for the idea of the marker shaking of the 'Bear grip' that it seems to be currently under. With more and more banks coming out with fresh news as to their exposure to the Mortgage crisis, the last thing that the Wall street may need is to know that the companies are cash strapped.
Sometimes, ignorance is a bliss and that may well be the case for the Wall street this week. With indicators already pointing to the red, the ride, it seems, will be heading right to the sub levels of the financial markets.

Bank to take over Countrywide?

Well, the recent debacle with Countrywide had sent many a investor scampering for the hills. But, what may be perceived as trouble by others is seen by others as an opportunity to make business, of course, there are many that would probably call them vultures. But that would be a bit rich, who is not trying to make a quick buck these days, even if it is at your neighbor’s expense?

Anyway, the recent Mortgage crisis seems to have sent the Bank of America calling on to countrywide Inc, in a bid to purchase the already beleaguered company. This move has sent a sigh of relief through many of the share holders of the Countrywide stock, as the recent news of the exposure of defaulting mortgage payments sent the stock price of Countrywide go into the basement. With the second largest bank in the United States poised to take over Countrywide, the stock markets have all reacted favorably, each posing gains and showing signs of throwing off the bear!

Paulson says no easy answers to mortgage woes?

When is the Bush administration going to wake up and smell the roses? The answer to that question is quite easy, answer: probably never. Especially as their attitude to the War on Iraq is quite well known. Now the United States economy is taking quite a hit and as far as the Bush administration is concerned, the economy is still strong and upbeat.

It is one thing to be optimistic and but totally another to be taking a walk in the clouds. And now, the treasury secretary comes along and tells us all that the recovery from the Mortgage crisis is not going to be easy - but then again this is something that we already know. What really gets me is that now the Bush administration is mouthing what we already know, it is high time that we saw some concrete action on the ground and by that I do not mean rate cuts. The rate cuts may alleviate some of the crisis but they only tend to make the Dollar weaker in the long run and as such, it is time to start thinking of regulating the Housing market!