Could it get worse? Who knows..but the article below doesn'ts sound good that's for sure! We have talked about the factors affecting the Panama City Beach Florida Condominium market online at www.InvestSmarter.com for the last few months and luckily prices are coming to a stable and affordable point. However, what is going to happen next? Who knows...right now there are more and more issues surrounding this ever changing market. Take some time to review what's happening and the new potential legislative actions around lending laws below and see what could happen to the Real Estate market not only in Panama City but across the country!
Fannie and Freddie May Face New Rules
Shares of Fannie Mae and Freddie Mac rose Tuesday after falling precipitously on Monday over worries that new accounting standards would require them to raise new capital.The Financial Accounting Standards Board is reviewing a rule that might force financial firms to take mortgage-backed securities that are currently off their balance sheets and place them on balance sheets.If Fannie and Freddie were to have to add portions of their securitizations business back on to their balance sheets, Fannie Mae would need to raise $46 billion in cash to meet capital requirements, while Freddie Mac would need to raise $29 billion, Lehman Brothers analyst Bruce Harting wrote in a research note Monday.The accounting board has made no decision on changing its rules, and any proposal would include a "rigorous" review process that would likely take several months, Neal McGarity, a spokesman for the group said.
Source: The Associated Press, Stephen Bernard (07/08/2008)
So where are we really going? Noone really knows but to stay on top of what's available in the Panama City Beach Florida Condominium market visit us online today at www.panama-city-beach-florida-condominiums.com to see what might be right for you.
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