Destin, FL – June 15, 2011 – (RealEstateRama) — In an overwhelming show of force, Americans say they want a Great Depression era act readopted by Congress to halt the possibility of another financial crisis.
The finding was determined through a new Housing Predictor survey, where you can visit to get the survey’s full details.
The Glass Steagall Act halted banks from conducting many of the same actions that caused the current financial crisis, including trading high risk forms of financial instruments on Wall Street during the Great Depression. Just like today’s crisis, the series of problems started as a result of traders on Wall Street and banks working together to weaken the nation’s financial structure and capitalize on loopholes to make as much money as possible without care or concern for the greater nation.
An overwhelming number of respondents to the poll said that the U.S. Congress should re-adopt the act. Housing historically leads the U.S. out of economic recessions by nine to eighteen months long before other financial markets show improvement.
Housing Predictor regularly surveys visitors to its website on important isses related to real estate to get a pulse on how consumers feel and tracks more than 230 local housing markets in all 50 U.S. states, forecasts markets across the country and keeps visitors up to date on real estate news and mortgage rates.
