Well to be honest I did not see this coming. Its getting scary out there. I still think that the market will hold until after the election but after the election is done with and Obama is in office. The Market will Crash. I mean Crash. Not sure how to explain that better. Take this quote for instance from Don on Active Rain.
“People are now comparing current events to the last depression so what does the 1929 stock market chart say will happen now. The 1929 chart says that the stock market will NOW crash…We have just read that there is great concern Goldman Sachs may go under caused by a proliferation of failing banks. Henery Paulson, the current Secretary Of The Treasury came from Goldman Sachs.”
On the plus side if you have the money I would recommend buying up rental property. Maybe even apartment complexes. People will not be able to get financed to buy a house soon. Maybe some people in the higher up markets 200k+ but I’m not even sure about them. Vacancies are going to fall through the floor. Its going to get tough to find a place to rent . If you own those properties you will be making steady cash flow each month. That will be a major plus since unemployment will go through the ceiling.
“The Federal Reserve said Tuesday night it would lend up to $85 billion to flailing insurance giant American International Group, saying the move was necessary to protect the financial system.”
— Justin of Vizionkc