There are parts of the area I live in that when I turn on a street there's just a row of 'Bank Owned' signs all the way down, both sides. Estimates are running that this will go on till June, July of next year. The housing package the POTUS just signed started out with an $800billion credit line for Fannie Mae and Freddie Mac(F&F). By the time it got to the Presidents desk, the credit line was left open, aka, a blank check. From what I understand thus far, the package will be an attempt to curb the last 6 months of this problem. It makes the S&L debacle of the 80's seem like a Sunday afternoon stroll in the park.
-------------------- You become that which you despise. Posts: 3571 | From: California | Registered: Feb 2003
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The Housing Market and the Economy is running great in Amarillo, Texas. My son in law is a Realestate Agent and his business is booming. Very little repo on houses in this area. The Oil Economy and Bell Helicopter are driving the economy here. Jobs go unfilled.
-------------------- From this day to the ending of the world we in it shall be remembered. We lucky few, we band of brothers. For he who today sheds his blood with me shall be my brother. CURRAHEE
Graduate: University of South Vietnam School of Jungle Warfare Posts: 6016 | From: Texas | Registered: Oct 2000
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