Broker BlogWrap is our tribute to the brokersphere. 'Cause we love you that much— we really do. Posts of note may be passed along accordingly.
So soon after Fannie Mae and Freddie Mac bailout, the dreaded 'b' word is back in the news and seems to be the only real estate news that matters this week. So lets look at the congressional bailout — *ahem* we mean the Emergency Economic Stabilization Act—through the perspective of our dear broker blogs. Why are banks going under? Well, it's like you have to appraise your home every day, then one day, your neighbor develops a drug problem and dumps his house for a quick buck, and then...wait... we're stil not clear. Let's try putting it in even simpler real estate terms. So then, will the bailout affect foreclosures? Sadly, probably not - despite wording that says otherwise. Have we learned our lesson? Will our leaders and bankers and lenders stop finger pointing long enough to work together to make sure this doesn't happen again - you know, by stop gambling on the housing market? Again...probably not. *sigh* [Front Steps, Sq Ft, Matrix, Redfin]