Stabilizing the housing market as Ben Bemanke projects
“Armageddon won’t occur” according to Jim Cramer yesterday. Jim Cramer is the well-known host of Mad Money on CNBC, but is also a widely recognized market primer. He sells his advice to banks, hedge funds, and investors around the World. He has been a long-time critic of real estate investment and Ben Bernanke.
The actions of the Federal Reserve yesterday by lowering the Federal Funds Rate by .75% to a target range of 0% to .25%, and also lowering the Discount Rate by .75% to .50% to historic lows, was followed by news that the Fed was also going to purchase large amounts of Mortgage Bonds and this was called “HUGE HUGE NEWS” by Cramer. “Housing will be solved by the end of 09”. “It’s time to get back in the game”, he said. “Ben Bernanke will do whatever it takes to stabilize the housing market”.
A question was posed to him about how to protect the value of the dollar. His response was to buy real estate or bank stocks. He further said “This is a once in a lifetime opportunity to buy in a reduced mortgage environment”. “The Fed has given a green light to investing in real estate”. Cramer advised his listeners to “buy a house within the next 3 months”.
I thought this important to pass along to you. Although Jim Cramer has been criticized at times for his TV. antics, he is a well regarded expert in market timing in the stock market, real estate market and commodities markets. Perception of the real estate markets is changing. It seems like most experts agree that the Hawaii market will be one of the first to recover.
****Information above obtained through Tricia & the Premiere Mortgage Team email@example.com
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