The current status of the mortgage rates in the United States is very bad. People thing that its a good thing that the value of houses is going down, they think that now is a good time to buy, but what they don't realize is that the real estate market always shows the first sings of upcoming problems in the economy. There are several reasons as for why the house values are going down, but for me the most signification one is that the US economy is being prepared for a recession. I don't think anyone knows how mild, or severe, this recession might be, but its a fact thats its coming.
Recently US President George W. Bush announced that he will give each American that field taxes last year $300 dollars back. Some people might be thinking, "Why would he do that?", the answer is simple... he knows whats coming up and he is trying to give the people some extra cash so that hopefully they pump that money right back into the economy, but I don't think this is going to happen! Drop me a comment and let me know what you think!
