Bush is an idiot but that aside I don’t see how his plan will change anything that is already in motion in this market.
Sure a few more people might be able to hang on to the homes they reside in a little longer but all of the “investors” who have racked up 2, 3 or even more homes will be losing those just the same as they were going to anyway.
Also, lending guidelines are still being tightened so average Joe’s won’t be able to get into anything more than 300k if even that pretty soon. I honestly don’t see any reason to panic about prices. I think the average home owner/buyer is now very aware of the danger of buying a home out of their price range especially after this news.
