Now what?

There's so much crazy stuff going on. In late January (and for the first time in history), the Fed dropped rates an unprecedented .75% in between meetings. While they have taken emergency action in the past, they've never cut rates so dramatically. Likewise, they also cut it .50% at their recent scheduled meeting. The Fed Funds rate is now as low as the Spring of 2005! What does all this mean? Besides my normal disclaimer that this will not lower long-term mortgage rates, it mainly shows us that we're not out of the woods yet! The Wealth Redistribution Act of 2008 (oh, I'm sorry, the "Economic Stimulus Package") is still up for grabs in the Senate, but suffice it to say something will be passed very soon. I saw an article about the wealthy spending less and how that is killing middle-class workers. That's Reaganomics in action-if the rich have money, they spend more/hire workers to keep up with demand. If they have no money to 'play' with, then they will not need goods/services, so the 'little people' are hurt. It's funny how that works out, huh? A tax cut (or FAIR TAX) would be nice! By the way, ATL home prices fell only 2% for the past year, but had risen 4.3% over 2002-2005. Meanwhile, the National average was down 7.7%/up 14.3% respectively. Here I go again: IT'S A GREAT TIME TO BUY! We are still #7 for foreclosures (1.57%), but we aren't in as bad of shape as other states (US avg. 1.03%). Bargains are out there, SHOP NOW! Click HERE for that article about the evil rich!