After the turmoil on the stock markets in the last few weeks President Bush has finally received support and has signed the $700 billion rescue package which should bolster the markets and restore consumer and investor confidence.
The $700 billion has been allocated for the Federal Government to buy bad mortgage loans to shift the burden of those debts from ailing banks to allow liquidity back into the market. The rescue package is a historic bill and after its initial rejection by the house last week which caused the Dow Jones Industrial Average to plummet 777 points in one day – the largest drop in US history – it is expected that the markets will rally on the news.
With signs that the economy is on the cusp of turning around you may find yourself wondering what this has to do with the real estate market? Well, by instilling confidence in the investors and stabilizing the mortgage market, there is a higher chance that a buyer will purchase a property and this process will in turn kick start the housing market. Currently buyers are snapping up property at a great rate and there are some real bargains to be had.
If you are looking for Real Estate in New Albany, whether considering relocating to the area or purchasing a second home The Raines Group can give you professional Real Estate advice about buying property in the area. If you need assistance in finding out information on specific neighborhoods or central ohio villages then please contact us: You can contact us via our online form.