September 25th, 2008 12:49 EST
Author and Money Expert Reveals Plan to Save the Economy
The economy continues in decline, as jobs are getting hard to find -- forcing most people to go seek employment in another state. James L. Paris believes not even the government bailout isn`t going to be any help for improvement; he also believes that home prices will continue to remain depressed and possibly go lower due to the lack of buyers.
"Simply put", said the author and editor of www.ChristianMoney.com, "the key to saving this economy is the providing of fundamental support to currently-sagging real estate prices; this plan does not address that root problem.
"While home prices have finally fallen to very attractive levels in many parts of the United States, the problem we have now is the constrained credit market. People cannot buy homes because they can`t get financing - there`s not just not enough money to lend. Until we initiate a plan that stimulates investment in the real estate sector, we will be doing no more than treading water."
Paris, who was written more than 20 books, is proposing a plan of his own to put the U.S. back on the economic track -- which includes the government allowing individuals to access their own retirement accounts without any penalties or taxes if using the money to buy residential areas real estate for either primary or investment use.
"This is a no-brainer source of funds that people without other savings could access in order to meet the higher down payment requirements that are now required by lenders" he states.
"In fact, untold numbers of retirement account holders have enough in their plans to pay cash for a home or two, which would really take pressure off of credit markets. These plans are just too great a source of potential real estate money to be ignored as a possible solution."
More of Paris` plan can be found through his new website at www.savetheeconomy.us.