Arizona Real Estate News Access
All the real estate and mortgage news you need to know in Arizona
Categories:

Archives:
Meta:
May 2024
S M T W T F S
« Oct    
 1234
567891011
12131415161718
19202122232425
262728293031  
04/06/08
Recession Time
Filed under: General, Business, Real Estate, Mortgages
Posted by: Lillian Wong @ 7:29 pm

Wall Street got its hopes up on Mar. 11. Elated by a Federal Reserve move to stop the credit crunch, the U.S. stock market posted its biggest one-day gain in five years, with the Dow Jones industrial average rising more than 400 points. Look out, though. Fed officials are the first to acknowledge that their initiative attacks only one problem, the liquidity squeeze at big banks. It does nothing about the central risk to the U.S. economy: an unprecedented crash in home values that is sapping households’ wealth and confidence while putting an enormous strain on the banking system.  More…

Leave a Reply