Warning: Use of undefined constant user_level - assumed 'user_level' (this will throw an Error in a future version of PHP) in /nfs/c04/h03/mnt/164519/domains/cleatlindsey.com/html/wp-content/plugins/ultimate-google-analytics/ultimate_ga.php on line 524

June 2012 Monthly Newsletter


Warning: Use of undefined constant user_level - assumed 'user_level' (this will throw an Error in a future version of PHP) in /nfs/c04/h03/mnt/164519/domains/cleatlindsey.com/html/wp-content/plugins/ultimate-google-analytics/ultimate_ga.php on line 524

After a lousy May and a rocky start to June, the equity markets (as measured by the S&P 500) staged a modest recovery, ending the month with gains exceeding 3%.  It was nonetheless another erratic period.  As of the writing of this letter, the markets were rallying largely due to “another”, band-aid solution proposed in Europe.  The market’s optimism seems a little overdone, but for now, some positive news from across the pond.

The news related to the domestic economy has been mixed lately.  On the “less-than-impressive” side were the unemployment figures (among others).  The U.S. Bureau of Labor Statistics reported that job growth in April and May was 73,000 and 69,000, respectively.  Yes it is good to have growth, but these figures are well below the average of 226,000/month that the economy added in the first quarter.

The positive news hails from the “It-Is-About-Time” side.  Finally, the housing market seems to have turned the corner: at least in some parts of the country.  The Case-Shiller home price index released June 26th showed April values increasing in 19 of 20 cities tracked, which is the second straight month of increases.  While the total increase was only 1.3%, that figure includes the good and bad areas in each city, so the good areas likely did much better.  In real estate they say it’s about Location, Location, Location.

Recently, I spoke with several real estate agents, both locally and in other parts of the country.  Understanding that they represent a very small sample, but it was interesting that each of them relayed similar experiences for the nicer “locations” they serve.

  • They said there is a lack of quality inventory to show their clients.
  • When good homes come on the market they quickly receive multiple offers.
  • In many cases offers are above the asking price and sometimes well above.
  • Most foreclosed homes they see have been gutted and are in very poor condition.

I continue to believe that when the housing market turns and begins a meaningful rebound, it will have a profoundly positive affect on the economy.

Share This Post

Recent Articles

Leave a Reply

© 2020 Cleat Lindsey. All rights reserved. Site Admin · Entries RSS · Comments RSS
Powered by WordPress · Designed by Theme Junkie

Warning: Use of undefined constant user_level - assumed 'user_level' (this will throw an Error in a future version of PHP) in /nfs/c04/h03/mnt/164519/domains/cleatlindsey.com/html/wp-content/plugins/ultimate-google-analytics/ultimate_ga.php on line 524

Warning: Use of undefined constant user_level - assumed 'user_level' (this will throw an Error in a future version of PHP) in /nfs/c04/h03/mnt/164519/domains/cleatlindsey.com/html/wp-content/plugins/ultimate-google-analytics/ultimate_ga.php on line 524