Dec 26, 2008

A peek at the market

If you care (or dare) to take a peek - the real estate market (driven by the economy) continues it's roller coaster ride into the new year.
The DOW is up 4 to 8473. But will growing tension between Pakistan and India impact global and US markets?
The 10-year bond price is up 6/32 and yield is down to 2.15%. For the week, rates are the same with a few up just a fraction.
Oil is up to $36. But gas prices have fallen 60% from our soaring summer highs and are now to a 4.5 year low.
It was bah humbug at department stores for an un-merry holiday season. Sales waned as economic woes trumped gift-buying enthusiasm. Will retailers ask for bailouts, too? Personal spending has dropped for the last five months, as well as income and orders for big-ticket items.
In spite of it all, I hope your Christmas Holiday was all you could have asked for and much more…hope this is true of 2009, too! As for me, I'm negotiating a contract, scheduling an inspection for another sale and looking forward to a closing this coming week. A great way to end 2008!
[where: 75230]

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