One wonders if lower interest rates are the only answer to the housing issues facing America. Those with larger portfolios still have money and are likely not too pleased with their returns from Wall Street of late. A second home might be the sort of investment those with resources can make that can also drive other job creation and economic engines. “Wait and see” seems to be the attitude today, but come January there is certainly an opportunity for a new outlook and the chance that those with the means will invest in second homes they can enjoy and help the entire economy by purchasing. Recall that many builders catered to the luxury market during “the bubble” and buyers with resources can really keep the economy moving. In 2009, perhaps they will jump-start a recovery?
Take the Private Communities Newswire poll about the 2009 second home outlook.
See the text of Federal Reserve Chairman Ben S. Bernanke’s Dec. 1 speech here.
U.S. Federal Reserve Chairman Ben S. Bernanke
December 4, 2008 – Bernanke will speak to the Presidents’ Conference on Homeownership and Mortgage Initiatives on the issue of Housing and Housing Finance.
Washington, D.C.
11:15 a.m. EST
