Wednesday, October 31, 2007

Just What in the Heck is Going On?

Someone Please Help Jusitfy What is Going On!!!!!

For the past 8 months now we all know just what has been going on with the real estate market. Despite many of our initial thought a bubble did burst (though not as badly as many thought). However, over the past few days I have noticed what seem to be shocking and somewhat controversial articles about the U.S. Economy.

Yesterday
S&P announces DC is one of 10 worst hit cities for real estate pricing
Mortgage Apps climb 17% for the month of October
Oil prices at $93 a barrel
NACA and Countrywide team up
Housing permits down

Today
106,000 jobs created in October
Fed to lower rate again
GDP is Up
Fed sees tame inflation

So, readers out there, what are your thoughts about the economy and our local housing market?

4 comments:

poo poo said...

i don't get it either. i've known three people in the last months that have purchased homes/condos.

i know two more that are looking and determined to buy.

as far as the real estate market is concerned, i don't see what the big deal is. i live in NE, and there are developers breaking ground everywhere.

maybe it's true what they say, "buy while there's blood in the streets". when the economy turns around in a few years, some folks are really going to be sitting pretty.

as for the other stuff... i dunno.

the way the administration fudges numbers, i have no idea what to believe....

Jesse Kaye said...

As for the administration, the election next year is a warm welcome to what we have now. Is all of this as boggling to you as it is to me. Consumer and government debt is at an all time high, the subprime mess has taken a toll on a significant portion of the market and according to everyone everywhere the economy has never been better. Maybe this is the bubble, not just in real estate.

My one thought is that the government is publishing these numbers to increase consumer spending during the holidays or to prove the invasion and the rest of the BS may have had a positive impact (at least until the administration leaves).

If you have two friends looking to by, send them over this way!!!!!!

Thanks again for the support.

poo poo said...

i pretty much agree with everything you've mentioned.

it's amazing isn't it?

i've already given your site to a bunch of folks, and will continue to do so... especially the two folks i mentioned.

btw, great blog!

you get 5.3 points for it! (which is more than i give most blogs!)

:o)

Jesse Kaye said...

Just 5.3? Just kidding. Thanks again & let me know if there is anything else I can include in my blog that you think would help make it better.

Where in Brookland do you live?