Once again, the Feds dropped interest rates another 0.75% today.
The U.S. credit crunch has sent financial markets swaying and stock prices to some new record lows. But the Federal Government’s priority has clearly become a balancing act to heal the nation’s real estate markets, which have been in recession for more than a year through most of the country, while simultaneously aid the financial markets. But the shift has clearly occurred as the nation’s economy has worsened away from real estate and into the overall economy. [Read more…]