QE2 will not fix the housing crisis
Despite the Fed announcing QE2, there are still huge headwinds facing the real estate sector. Many hope the lower interest rates will help the limping market, but others suspect QE2 just another crutch designed to keep the market artificially afloat for a few more months. Sometimes it seems instead of just ripping the band-aid off and letting the raw wound heal another band aid is put on top. Banks are already sitting on a trillion dollars. Many CEOs like Wilbur Ross are skeptical the additional cash will entice banks to lend. I decided to sit down and speak with Barry Glassman, of Barry Glassman Wealth Services. Barry called the ARM Tsunami before it hit the real estate market. I asked him what is needed to solve the housing problem once and for all.