The Economy

Ding Dong The Election is done............
It is on the web, newspaper, radio, and water cooler about the economics of our country. It is a battle of arm chair quarterbacks vs back seat drivers.
Everyone has an opinion. My thoughts are not what everyone would agree with or some say I need to be an economic adviser to The President.
Example of our times. As a Realtor a buyer was declined a mortgage on a new home while putting over 60% down payment. This would be there 2nd home and was out of state, but only mortgaging 40%. " Things that make you say Hummm". Now here we are with great credit worthiness person and an economy that is wanting home buyers, and someone that tells them NO.
I was listening to my XM radio and hearing people voice their opinion on what it will take to fix our economic situation. I listened for couple hours a day over last week and the consistent thing was, something has to be done. As one reporter made a great point that the same bank that is getting help from the Bail out money are the same banks that are trying and working toward getting more deposits and less efforts to loan money. So in a nut shell banks want the free money but don't want to give out any (or as much as they receive). Maybe that is to keep the bank alive and pay off the corp exec large yearly bonuses.
I discovered many things over last couple months after reading and listening to many different speakers, some of which I agree with but most of them have components that have merit. They are as follows. 1-Putting money into a banking system that is not eager to lendmoney might not be the answer, but it will put some liquidity into the system that will help other fronts. 2- When an economy is in a recession the one true factor that makes brings us out is Real Estate. 3-The federal government needs to abandon the $7,500 tax break program, it is not being utilized. 4- Government backed LOW interest rates i.e. 4% need to be introduced immediately. 5- Incentives to home ownership need to be increased in the form of tax savings for purchases made over next 120-180 days. 6-More efforts to promote great opportunities in real estate not doom andgloom in the media, Government paid AD's. 7- Partnership with small builders and small mortgage companies to offer great opportunities, not just FREE money.
With all this being said, I must repeat what I believe and have been telling Realtors, friends and family for last 90 to 120 days. Buy Now, Interest rates are low and Sellers are motivated. The opportunity to buy low is upon us. The only way you know the true bottom is when it past you. Do you buy stocks when they are at their top and everyone is buying them to driving the price up? Buy Now build now.
Edwin