The 700 billion dollar bailout has been rejected. A time to rejoice? No, far from it. The economy has been in turmoil for the last week and now it’s going haywire right now. The worst drop in Wall Street history. Oil prices jolting itself up and down. Something has to be done, but more than treat the symptoms, the roots of the problem have to be handled. And the major root of the problem is nosediving property values. Real estate is the largest asset that the United States’ has, and it has to be taken care of immediately.

CNN.com says that we will not see another vote up for the bailout before Wednesday, so stay tuned. Let’s all keep our nation’s well-being in our prayers.

This entry was posted on Monday, September 29th, 2008 at 1:54 pm and is filed under General Real Estate News, Mortgage & Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.