Another bleak day in the market today, though it’s more slow creep than yesterday’s vicious spiral. We are now approaching midpoint in the year with every index harbored safely in the red. Given our antsy Fed, there’s no sign of imminent relief.
One question your average bear has to be thinking about is–is this now affecting the real-estate market, and if not yet, when? The media, whose sources are mostly the sellers’ brokers, seem confident that the real-estate market is still red hot. But some macro data indicates that things might be shifting. (Check out Bloomberg columnist Caroline Baum’s piece from last week titled “Is the Economy Slowing? Data Tell Two Tales.”)
You’ve covered real estate in your day, David. What’s the relationship between the two markets? When does one start bleeding into the next?