So the real estate woes seem to continue, but hopefully, the Fed lowering the rate will help to fix this. A few years back, they dropped the rate monthly for 6 or 7 months to help ease the pain. This was definitely a slow down back then and it *seems* to have worked… I wonder what effect it will have this time. I think they’ll have to drop it quite a bit to get things moving again, especially in the ever popular Wash Park.
Then the markets “plunged” (according to CNN/Money) but investors were hoping for a greater cut. I expect the greater cut will happen after the New Year when everyone’s Christmas bills start rolling in… By then, in the middle of the frigid real estate market in WashPark and elsewhere, hopefully it will come in handy for all of you with homes for sale or looking to buy a house.
We shall see.