Good News for Maine Home Sellers
If you've been trying to sell a home in Maine (or anywhere else in the U. S. of A.) you had to like the interview with former Fed Chairman Alan Greenspan yesterday on ABC's "This Week".
Addressing the current housing market slump, the former central banker called for the government to apply money to the problem saying "Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this."
Such a cash infusion would typically come through a tax break perhaps in the form of a credit for sellers who lose money. This would also signal that the Fed is going to leave the discount window open and encourage banks to lend. While Greenspan has retired it is hard to believe he's speaking in a vacuum and that his words aren't carefully calculated to have a specific effect.
While these may be trying times for home sellers this is probably one of the all time great buyers markets and may present the best buying opportunity of this generation.
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