Mortgage, credit cards, and business loans are becoming harder to find with the tightening economy. Falling home prices combined with high gas prices have made consumers reluctant to spend.
It will be interesting to see how President Bush and his successor respond to these challenges. The US economy is capable of growing at rate as high as 4% a year. However, many reforms in banking, trade, and energy policies are needed to see such progress. Currently, the standard of living is declining for citizens.
Although it is difficult for borrowers to receive traditional lending, hard money lending is still an option. For more information on hard money lending, contact Pitbull Mortgage School at 858-736-7788 today.
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