CFAH

In response to continuing concern surrounding the stability of the European economy, six central banks cut the cost of borrowing yesterday and the financial markets rallied with the S&P 500 jumping 4.3 percent, up 7.6 percent over the past three days.
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Comments from Plugged-In Readers

  1. Posted by Dump By New Year

    Market will be ok through december, then watch out in the new year.

  2. Posted by A.T.

    The central banks’ action was a big splashy announcement about a trivial policy change – but after a 3-week steady market decline, it was enough to prompt a nice bounce-back. I hope that this is a foreshadowing of the ECB spigots being opened up, but that hope remains backed up by nothing more than it was two days ago.

  3. Posted by johnny

    central bank operations purely cosmetic
    if u own equities – selling oppy.
    san francisco lux real estate going down. look at all of the supply of sf lux real estate (i.e. $7.5 million+) for sale out there.
    economy will get worse and it will impact sf – sf not immune from reality
    cash is king

  4. Posted by sparky-b

    So if I’ve got this right. When the market is down, real estate will tank; when the market is up, real estate will tank.
    I mean look at all those $7.5M properties all 18 of them some that have been on the market for years, if that doesn’t perfectly describe the market what does?

  5. Posted by johnny

    you have it right.
    the credit market is the market to look at – it leads the equity market
    the credit market shows no signs of calming down. in fact,spreads continue to widen.
    I predict w/in 6 months the world will return to the market/credit stress peak of 2008
    not good for real estate, especially lux real estate

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