Mixed bag Monday

Economic indicators missed their mark today by a tenth. Expectations for the index to rise .7 percent were off resulting in a smaller rise of .6%. While the markets are currently on 'sell' mode this morning since the numbers were off, I do think we need to focus on the fact that this is still a POSITIVE number, albeit off the pace expected. So we've had five months of rising indicators but unemployment still lingers. Yes, temp firms are seeing some increased business but not for temp to PERM jobs as of yet. Here in ATL, economists feel that job recovery is coming in 2010 but views differ on the amounts of job increases--but most feel that it may be later in 2010 than earlier so we're definitely not out of the woods yet.

What about real estate? Interest rates are still currently low, but the expiring $8000 tax credit could cause big problems AFTER November 30th as the tax credit incentive disappears. Senator Isaakson is fighting for an extension; hopefully he will be successful (insert rant about this credit being only for 1st-time buyers here).

Don't forget that we still have a lot of unsold inventory, including a lot of partially-built subdivisions. Factor in all the foreclosures in the market and there are still inventory concerns. If you wanted to buy, you have a golden opportunity. If you STILL rent you are an idiot (unless you have a really good reason to have temporary housing--if not, as you throw away your rent each month, remember that you're an idiot :) Keep the faith; like our rain, this can't last forever! Happy Monday! Bo