September 29, 2008
Alan Zibel
WASHINGTON (AP) - The recession in the U.S. housing market is expected to be deeper, longer and scarier if lawmakers continue to be deadlocked in their effort to pass a $700 billion bailout of the financial industry.
"If they don't do something, they're going to shut down real estate completely," said Richard Shuman, a real agent and mortgage broker near Orlando, Fla., who has seen his business dry up over the past week as the nation's financial system was gripped by paralysis.
The situation is dicey enough to make anyone thinking of buying a home queasy.
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