Friday October 3, 4:29 pm ET
By Rick Newman
The mammoth financial bailout plan is finally in place. But don't exhale just yet.
The $700 billion rescue bill that Congress finally passed will limit panic in the markets, since it gives the government vast new authority to take over sclerotic securities that have clogged the credit system and already brought down some of America's biggest companies. With the feds stepping into the bloodbath, the hemorrhaging should stop. But the economy is still in precarious shape, and unrealistic expectations about the bailout could end up disappointing consumers hoping for some kind of immediate relief.
Ivie's Comments
It's hard to say what is to come with our market. I like to be an optimist and say that things will improve with our real estate market in 2009. For us (Kehoe Realty, Inc.), 2008 was not a bad year, as far as waterfront sales and of course... foreclosure sales. People are looking for good deals these days and they have every right to. There is so much for sale right now, that buyers can really be picky about what they buy and for how much!
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