Financial Bail Out-What Should We Do?

Many people are complaining...saying that we shouldn't be bailing out the financial sector. They put us all in this mess. That's true to a point, but when you are the world's largest company, if you go under...the economy will take a fall also! But we must also remember that the FED sets interest rates...many of the problems we are seeing today has a lot to do with Real Estate Agents, Mortgage Lenders, Builders, but more importantly the FED regluators. We didn't see this many foreclosures and REO/short sales when you were putting down 20-30% and had higher interest rates.

We have talked about this at http://www.investsmarter.com/ and titled it the Minimum Monthly Payment Problem. Our society looks at things these days more as can we afford the payment, not can we afford the item. The article below shed some light on what's happening and some other thoughts. Whether you are looking at Panama City Beach Florida Residential Property or Panama City Beach Florida Commercial Real Estate, this will all play into account.

Daily Real Estate News September 23, 2008Financial Bailout Plan Advances Under pressure from the Bush administration to act swiftly, the plan to revive the U.S. financial system continues to move forward. Treasury Secretary Henry Paulson Jr. and Federal Reserve Chairman Ben Bernanke pitched the bailout plan during testimony before the Senate banking committee on the morning of Sept. 23. (See NAR Gets Behind Efforts to Restore Market.)
"In order to avoid a continuing series of financial institution failures and frozen credit markets that threaten American families' financial well-being, the viability of businesses both small and large, and the very health of our economy," Paulson told the Senate Banking committee this morning.Bernanke said there was no other option. "Action by the Congress is urgently required to stabilize the situation and avert what otherwise could be very serious consequences for our financial markets and for our economy," Bernanke said.Some lawmakers from both parties have already expressed concern about the $700 billion price tag and its chances for success. Meanwhile, Senate Banking Committee Chairman Christopher Dodd (D-Conn.) and his staffers have drafted a counter-proposal that works in many of the priorities outlined by Senate Democrats. Source: New York Times, David M. Herszenhorn (09/23/08) and CNN Money, Chris Isidore (9/23/08)© Copyright 2008 Information Inc.

We have more information online at http://www.randbcoastalrealestate.com/ where you can view properties for sale from Pensacola to Panama City Florida. Please let us know your thoughs on these matters also!