Congress Agrees on $700 Billion Bailout Deal

Published 28 September 08 07:58 AM | Steve Hewson 
U.S.Capitol Office

Members of the U.S. Congress announced early Monday morning, September 28th, that they reached an agreement to the $700 billion bailout of the financial markets. The House of Representatives is voting on the bill on Monday morning and the Senate is expected to vote on Wednesday. President Bush has expressed support for the bill.

After two weeks of turmoil in the worldwide financial markets, coupled with a strong resistance from main street Americans, Congress and the President have agreed to a structured bailout. Now it is time for the media pundits to wade through the details of the plan and explain how the taxpayer will be affected.

Of interest to most of our readers will be the positive and negative impacts to interest rates, mortgages and foreclosures. Many buyers and sellers of residential real estate have been frozen for the last week and reluctant to make a decision until more clarity is brought to the situation. Our commercial clients are continuing with their real estate plans, but watching the economic situation carefully.

Some of our clients who have been heavily invested in the stock market told us they were rapidly selling their stock out of the market for the last two weeks to invest in real estate. After seeing their holdings erode as the stock market declined they are ready to invest in the bargain real estate prices that exist in the Colorado market. See our website.
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