To some people it may be a world where money is irrelevant but those living in the famous Silicon Valley have seen a substantial fall in the value of their properties with the last quarter of 2008 particularly tough. The fact that some people are suffering will surprise many around the world who were of the opinion that the area is dominated by the rich and famous who have bank balances the vast majority of us can only dream of.

As the US population welcomes President Barak Obama to the White House it would appear that over the past few months a feel-good factor has started to emerge in the US, in light of the changing political environment. However, a look at the US housing market and forecasts for the future would firmly suggest that the US property sector could be in serious trouble for the next 2 to 3 years. So what exactly is going on and will the multi-billion dollar rescue packages actually make a difference?