Hey Dan
2000 SPX, I remember 10 years ago there were talking about baby boomers pulling their money out of the stock market starting in 2007 and into safe havens. The VXO reflects that no one is selling and no one is worried about anything. The country is concentrating on dancing shows, the come back of silicon breast implants and other feminized issues......
Real estate is good, this last month we had over 3100 sales in Orlando, with that increasing 20% over last year. Inventory has stayed stable for the last 3 months with the builders shaving 50-80 grand off prices, large incentives for realtors. Existing homes have had to drop their prices by at least 10%, but with the home builders being done, this will be about it for sellers now. The inventory will now burn off in the next 6 months, especially with interest rates at 5.8%.
A trillion dollars of arms will have to be redone next year, so there is concern with the recent drop in home prices, with anyone who bought 1 1/2 year ago. They may own their homes upside down given the 100% financing etc. Guess, this will teach people the hard way about such things. I kept a "I don't know" view with customers last year and let them deal with the lenders themselves. Am pretty good at acting dumb, it is hard to tell when I am acting..... :o)
AI
