Topic #1: The Importance of Real Estate

The Real Estate market greatly affects the entire financial market. Mortgage rates have a big effect on general interest rates. Recently, the Fed declared a plan to buy $40 billion dollars worth of mortgage-backed securities per month, hoping to to lower mortgage rates, thereby increasing activity in the housing market. This act also had a significant effect on the stock market, sending stock prices upward. By lowering mortgage rates, the Fed is hoping to increase available cash for consumers to spend, thereby further stimulating the economy. This can be further explained in the following link:

http://www.sfgate.com/business/bloomberg/article/Stocks-Climb-Treasuries-Retreat-as-Fed-Plans-to-3863273.php

The Real Estate industry also creates numerous jobs and generates high revenues from taxes and property appreciation. The following link shows how Real Estate affects Maryland's economy:

http://www.mdrealtor.org/Portals/0/docs/Communications/Final%20MAR%20Cost%20Study%2008.pdf

In this article, it is revealed that real estate supported approximately 20% of Maryland's jobs, and it was responsible for nearly one quarter of the state's total sales of goods and services while also producing 45% of the total local government revenues through real estate taxes.

"For every five jobs in the real estate industry, the multiplier effect adds another four jobs to Maryland's economy." The Role of Real Estate in Maryland's Economy

These facts help us to understand the significance and importance of real estate in our economy. With these statistic in mind, it's easier to understand how the collapse of the real estate market in late 2008 caused a collapse of the entire economy.

ME

I, Cameron Feehan, am a senior Finance major from Houston, TX. I was born and raised an Aggie and wouldn't accept going anywhere but ATM. I love to golf, fish, mountain bike, and watch football. My dad and I enjoy golfing so much that we are going on a golf trip to Ireland as soon as I graduate in May 2013.

I have a large a diverse family consisting of two brothers, two sisters, a step-brother and a step-sister. I oldest brother, Chase, is ambitious and persistent in working to get what he desires. My other older brother, Wade, is adventurous and carefree. He follows his heart and never works too hard. I'm greatly influenced by both my brothers, mixing their personality traits into a perfect balance to create a personality of my own.

In my spare time, I enjoy building things and creating games. My latest build was a Jumbo Jenga set (Jenga made out of 2x4's). I like having house projects and fixing things.