Real Estate Industry – Do Not Expect Much Help From The Stimulus Plan
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Remember how the stimulus plan was initially framed so as to help the real estate industry? Well, those who have seen the whole package now know better.
The stimulus package has very little in it for the real estate industry.
“I am disappointed that the stimulus initiatives which we’re seeing so far” do not address in a more aggressive and robust way the issue of real estate prices and how we keep people in their homes and how we reduce foreclosures,” Gregg said at a hearing on the federal response to the housing and financial crisis by the Senate Budget Committee, where he is the senior Republican…
Gregg told the committee he was “concerned that so much of the stimulus package is really outside the next two years…, and that’s not good. We’d like to get this money out the door sooner.”
Gregg added: “We’re in crisis, people are sober, there’s a sense of community here that often doesn’t exist in the Congress. There’s a willingness to work across the aisle, so let’s move on that issue right now while the iron is hot and we can get things done and there’s a good will to do that.”
via UnionLeader.com
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Comment by Christian on 30 January 2009:
The thing about stimulus bills, they things unfair for everyone involved. I wrote a post on why i think most realtors are wrong… http://www.myonehundredthings.com/2008/12/realtors-wrong/ This industry has it all backwards. We don’t need to “get back into the swing of things”. We need to embrace the recession and deal. We have a big hangover coming…the longer we delay it, the worse it will be.