It is now a major concern for real estate agents, brokers and property buyers to see the aftermath impact of US shutdown. I believe that American economy needs to have a thorough modification to stop recession. Already we have got pathetic news about the steady nosedive in the growth of FX and stock markets. Even bullion trading is also affected due to inflation.
American government has decided to trim budgets by cutting expenses, reducing the number of workers and restricted the financial market to some extent. In this connection, real estate market is obviously influenced due to such a crisis. If you buy property with your money, the side effect is not severe in spite of the deadlock in American government.
However, the fact is that those who want to buy property with loan amount will have to get safeguards. FHA or Federal Housing Administration has already made declaration about the deduction of members to take care of loans for processing to spoon feed people.
Loan applicants must wait for long time as the whole transaction will be delayed due to shortage of fund, and lack of competent officers to do documentation. The housing market in America faces a number of problems. However still there is hope if the mini-shutdown in US ends. There is no news about the normalcy in US administrative machinery.
I know that many of you want to buy property in cities of America. However, right now the picture is different in the US. You need to do lot of researches to detect the reasons of the severe breakdown in the national economic infrastructure of America. Real estate property has been indirectly affected owing to the temporary recession.
Government of America doesn’t show leniency to approve loans to purchase property. Those who have already applied for handsome home loans and mortgage refinancing will not get more advantages from the government. On the other hand, private loan providers like Fannie Mae will not close their offices. They are out of danger.
However, to some extent Fannie Mae loans will be partly under the influence of such a devastating economic downtime. Some of the official works of Freddie and Fannie loan services are done in US government offices. In case the shutdown continues, real estate property purchasers, brokers and mortgage loan applicants will have to get side effect to some extent. In 1995, so called recession lasted for 21 days. God knows how much time this government will take to find the easy solution to save people from destruction. Employees of American government don’t find any alternative way but keeping lips tight.
Think once more before investing the fund on real estate property in America. Weather is very worse in the real estate sectors. Government prefers the aloofness by discarding loan applicants and agents to buy and sell property. In this connection, the Houston Real Estate Association has called a meeting most probably in the last week of this month. I expect that this conference will highlight the issues regarding the role of American government during the financial crisis. The political impasse has become a sore to affect the higher authority of America.
In this connection, I have got news that at this important meeting, experts of Houston Real Estate Association will discuss about the horrendous stories regarding the setback suffered by USA senators and of course traders. They will try to invent more powerful strategies to settle the issues. There will be a short training session to train local entrepreneurs and real estate agents how to overtake this rough weather competently. Finally after the conference being over, there will be a new website launched by Houston real estate members/associates for thought sharing. You can be a member of the team by simply doing registration free of cost. I will assist you in this regard.