Despite the negative news surrounding the real estate industry, now continues to be a great time to buy a home in Texas, said Dr. Mark Dotzour yesterday, speaking before the Beaumont Board of Realtors.
Dotzour, the chief economist for the Real Estate Center at Texas A&M University, said the states’s housing market should thrive in 2009 thanks to affordable housing and steady job growth.
Continue reading about ECONOMIST PREDICTS STRONG TEXAS HOUSING MARKET IN 2009
The Federal Reserve Board’s Federal Open Market Committee cut its short-term interest rate by a half of a percentage point today to 4.75 percent.
Federal Reserve Chairman Ben Bernanke pledged Friday that the central bank will “act as needed” to keep the credit fallout that has unhinged Wall Street from hurting the national economy.
Continue reading about Bernanke: Fed Will Act As Needed to Limit Economic Fallout From Credit Mess
Based on results from its recent mortgage study (see article), the Center for Responsible Lending (CRL) has predicted that one out of five subprime loans issued during 2005 and 2006 will fail, resulting in foreclosure for millions of American homeowners.
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