Will Florida Property Woes End In 2009?

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Tagged in: florida property

Chairman Of The Federal Reserve's Prediction For The U.S. Economy

Our recent blog posts this week saw us covering the currentreduction in Florida mortgage rates  and the historically high foreclosure rate throughout Florida, despite prevention methods! If you are not a seasoned property buyer and need to buy Florida property... the  market can seem perilous and confusing.

However in an unprecedented interview 60 Minutes correspondent Scott Pelley gets up close and personal to Ben Bernanke, Chairman of the Federal Reserve. He gets the answers to the question that is on everyone's mind... when will the recession end?

Having a firm idea of when the US recession will end, mirrors when the chaos in the Florida property market will stabilize and begin to swing upwards.

The chairman sees the recession coming to an end  this year...2009 and recovery  beginning next year, 2010 with progressive momentum from there onwards. He spoke of stabilizing the financial system as the core solution to ending the US recession.

When asked if he had a message for the people of America he offered 3 main things-

  1. Federal Reserve will do everything possible to support the recovery.
  2. Recovery is not going to happen until the financial markets and the banks are stabilized.
  3. There is a plan for the latter, but will take some patience.

Watch The Interview Now

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