President Bush somewhat reluctantly signed the $700 billion rescue package for the american economy. Although he is in favor of the bill, its wide reaching scope and historic moves are defining moments in his Presidency.

The $700 billion shot in the arm, is a bailout for Wall Street and the big Banks and will allow the Federal Government to purchase bad mortgage loans and help alleviate the suffering felt by the american economy in the wake of the credit crunch.

When Congress originally rejected the bill earlier in the week the effects wre devastating causing the Dow Jones Industrial Average to fall 777 points in one day. The largest drop in US History. However it did recover somewhat, although still closed down on the previous days trading. With this rescue package being passed it is hoped that it will give the stock market a boost and help bring back some consumer and investor confidence to the economy.

So, you ask, what of the housing market? With this rescue package shifting the burden of bad mortgage debt, it should help ease the pinch of the credit crunch and provide a little more capital to the market and thus stimulate the buying process. Buyers are already starting to take advantage of the market with great prices, great mortgage deals becoming available, now may be the best time to buy in years!

If you are looking to purchase a home in Sedona, Arizona or the surrounding area then please contact Claudia Ault for professional Real Estate advice in Sedona or the surrounding Verde Valley area. Contact her via the online contact form on her website.

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