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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: David Jones who wrote (14088)	10/1/2003 5:41:03 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

"The Fed lowering the base" - it could be. The Fed has been buying huge quantities of bonds for their own account (ie with newly "printed" money) to drive down long term interest rates - just like Japan did. When the Japanese government could lower rates no further with this method, they started making 2% mortgage loans directly to homeowners with newly printed money. The Fed has dropped all pretense of a free market. Government welfare for all until the all-clear is sounded - (which will never come since this only compounds the problems).