Rate cuts need to be bigger to stir housing market

Many speculate that a Fed rate cut on 31 October will not be enough to stir the Nations housing market, and start this sector of the Nations economy. Directly affected are developers such as: D.R. Horton Inc., Lennar Corp. and Pulte Homes Inc as there are fewer buyers. Similarly, housing prices have soared over the last 6 years, and many homeowners took advantage of growing equity in their homes, by means of a cash out refinance. Today's financial environment makes it difficult for these homeowners to refinance as many of the Stated / Stated programs are no longer available. Borrowers now need to document income and verify assets, and homeowners are no longer able to take advantage of growing equity in their homes. Will the Fed continue to cut rates ? ....we'll have to wait and see.