Homeowner's Blog

What Will Put An End To Our Economic Decline?

The GDP (Gross Domestic Product) has now declined in the last three quarters, the latest decline (6.1%) was greater than expected by most economists. Housing accounted for much of the decline. Business investment and state and local government spending also declined. So when is all this going to end?

On the plus side home prices are showing some signs of stabilizing, and the number of homes sold are finally increasing in many areas. Business inventories have also been drawn down substantially in most sectors, which will lead to more manufacturing activity in the future. Another positive is that most of the stimulus spending has either not yet occurred or had the chance to impact the marketplace. When it does there's a good chance that it, combined with some of the other positive economic factors, will put an end to our economic decline. That end may not signal the beginning of an extremely robust recovery, but it will be nice to see the economy moving forward again, more job openings, and a further recovery of the housing market.

Lets Support Legislation to Reform Mortgage Lending

Congress will hold a hearing tomorrow on legislation to reform mortgage lending. The Mortgage Reform and Anti-Predatory Lending Act of 2009 (H.R. 1728) deserves our support! This bill is an important component of mortgage finance reform. Along with bankruptcy reform legislation, it will prevent the future destruction of the savings, investments and home equity of American homeowners. The Act would:

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Handing Out Stimulus Money Is Easier Said Than Done

President Obama has dedicated $7 billion dollars to provide broadband services in areas where no broadband services are currently available. Broadband services are increasingly important to homeowners, so this is a worthy investment. Now come the challenges. Who decides how the Broadband Stimulus money will be distributed- the States, one federal agency such as the Commerce Department's National Telecommunications and Information Administration, more than one federal agency? Once its decided who will distribute the money, the next problem to face is how to rank grant applications. This will be another challenge since the Administration wants the stimulus money distributed quickly so  it will create new jobs and help turn around our declining economy. An April 14th Wall Street Journal article entitled Broadband Stimulus Funds Up for Grabs addressed these challenges.