If the federal government fails to increase its borrowing authority prior to when the U.S. Treasury says it will run out of money to pay its bills, debt default is not necessarily the first consequence we’ll see, says NAR Chief Economist Lawrence Yun. Rather, the government could decide to pay the interest on its debt, which is about three percent of the U.S. gross domestic product, and ensure that global investors of U.S. Treasury bonds are made whole. That would help protect the dollar as the world reserve currency. But to do that, the government would have to curtail spending elsewhere.
For more information and video:
http://speakingofrealestate.blogs.realtor.org/2013/10/09/yun-on-debt-ceiling-450000-lost-sales-with-1-mortgage-rate-rise/
With eight of experience in selling homes in Central Florida working for Luxury Realty, Bernardo’s knowledge and dedication has made him a leader in the local real estate market. He has developed a strong reputation of character, integrity, honesty and reliability. Using his focus and unique ability to set aside personal agenda, he is thought of as a trusted adviser to his clients and friends.
I hoping for compromise. Buyers and sellers need to compromise…..why can’t the government get with it? Hopefully we will get an answer from the Government soon.
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