New Jersey Appraisal Blog

Since my last blog post much has happened. Most of which I had foresaw and wrote about in previous posts. The residential real estate market has continued to decline, now for approximately the past 18-24 months in most markets throughout the United States with the commercial real estate market following a similar path. The economic crisis has worsened to points of disbelief and we have elected a new president who has sworn to bring about change.

As I had also stated in earlier posts the only way this economic mess is going to begin to get cleaned up is through Government Intervention. Low and behold plans of action to strengthen the economy have been in the works for some time now and are finally about to see the light of day.

The House of Representatives voted this past Friday 246 to 183 to spark our nation’s struggling economy with a stimulus package in the amount of $787.2 billion dollars structured for the purposes of providing quick tax relief to Americans as well as to create and save millions of jobs.

Newly elected President; Barack Obama is most likely going to sign off on the bill early next week. Once that happens we should start to see some of the money flowing through our economy rather quickly.

More details on the bill and how it will affect our economy and the real estate market, next.