The housing market is in a spiral down and desperately needs some help from the government. The number of foreclosed homes in the market continues to climb at record rates. The housing market has seen values drop by over ten percent in the last year and the government continues to stand on the sidelines. The real estate industry is credited for carrying the economy for the better part of the past five years prior to the summer of 2006. If anyone believes that by not fixing the real estate market the balance of the economy will continue to be ok they are mistaken. Consumer confidence today is at an all time low as individuals grow more concerned that the economy will not begin to rebound. The government has indicated in the past they were willing to introduce stimulus to help the market, as the Fed's efforts to cut rates has not trickled through to the housing market as hoped. Clearly this is a time of action and Congress needs to get creative before the summer home buying season passes and another year is lost.

4-29-2008 ©LowRateMortgage.com

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