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January 20th, 2009 7:42 AM by David W. Welch
If you really want to see a change in the economy and you really want a stimulus package that works, start buying homes and cars. Those two things probably best represent the idea of freedom better than anything else. We are free to choose where we live, and free to own our home. Americans have a love affair with the automobile, because it allow us to go anywhere and it is a reflection a lot of times of who we are.
What good is it going to do if the government starts a bunch of projects putting people to work building bridges and roads, if nobody has a car to drive? What good does it do for the government to buy up securities and bailout the banks if nobody borrows the money to buy a home? So far the government has pumped about $1,500 for every man, woman and child into our banking and mortgage industries. With the additional $350 billion already approved and The Fed planning to pump another $550 billion into markets, that is another $3,000 per person. Obama wants another $825 billion or $2,750 per person to stimulate things. All together that is $7,250 per person in support of our economy. That would make a heck of a down payment for a car or a house.
It is time we start doing our part. If you have been waiting to buy a new car, do it now. If you have been waiting to buy a home, do it now. If you are planning to buy here in Orlando, I would love to help you with your purchase. It is a great time to be a buyer here. Prices are at levels we saw back in 2004 which was before the big boom. Interest rates are about the lowest they have ever been. Combine the lower prices with the super interest rates, and Orlando has never been more affordable. One thing that has not changed is our weather. It is unseasonably cold today with a high of only 55 expected. We will get through this arctic blast in a couple of days, and get back to 72 by the weekend.
David Welch, Remax 200 Realty, Orlando Real Estate