Government Intervention Does Little to Stem Foreclosures
In the US, an estimated 1.5 million homes have been filed for bankruptcy and many are expected to add to the already alarming numbers. Victims of the housing market bubble collapse these homes have been getting help from the government in terms of cash incentives and discounts but even that cannot stem the failures of these home loans. With home prices expected to drop a bit more as the market continues to operate in a stupor, waiting for economic indicators to show signs of life to reanimate again ready to cater to increasing demand should that come. That day may come but when is still up for grabs as people hold their breath to see signs of recovery. Wall Street is finally seeing some gains and may it be the sign people are waiting for, time would tell if it could continue to again spur growth, something that has been void in many markets the world over all tied to the global financial crisis that grips us to date.
