In case you have not heard yet, today congress passed the $700 billion plus bailout of mortgage giants Freddie Mac and Fannie Mae. The bill is designed to bolster the struggling economy and open up the credit markets.
Warren Buffett was quoted today as sating the bailout will "not solve all our problems, but it will help." The truth is that no one know for sure if this will work, but we had to do something to help loosen the credit markets.
The question many locals are wondering is how this will affect the Sarasota real estate market. It will probably be many months before we see significant improvement. The US Treasury will now have the ability to help slow down the rate of foreclosures. The bill is a step in the right direction. According to Mark
