Oahu Home Sales

“We live in interesting times” goes the saying……..If the current financial market is “interesting”, I prefer “boring”. Please. Pretty please. Give me boring.

This week US stocks tumbled and bond prices soared in the wake of of the Lehman Brothers Bankruptcy, the Merrill Lynch buyout and the AIG Bailout…… Gold – often seen as a safe-haven asset – experienced its biggest one-day gain since 1980.

These are incredibly turbulent and concerning times. US investment banks Morgan Stanley and Goldman Sachs appear to be latest in the firing line with their stocks falling sharply overnight and this is despite both reporting better than expected results over the past couple of days. However, the SEC has now stepped in and will put restrictions on the short-selling of stocks.

Officials around the globe are struggling to boost market sentiment. So when will the crisis end? It is of course impossible to say. But one of the prerequisites will be a recovery in the US housing market, and with housing starts falling to a 17½ month low in August, any recovery looks some way off yet.

This entry was posted on Wednesday, September 17th, 2008 at 2:18 pm and is filed under For Buyers, For Sellers, Market Watch, Updates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.