S&P/TSX -192.20
13,168.24
DJIA -214.84
11,825.55
S&P 500 -21.56
1,282.78
Nasdaq -32.33
2,188.17
Friday, March 7, 2008
Wednesday, March 5, 2008
Canada vs US Housing
Canada:
FRASER VALLEY HOME PRICES REMAIN STRONG
IN FEBRUARY
(Surrey, BC) – With greater choice available, Fraser Valley home buyers continued to snap up properties in February, paying on average seven per cent more for a single family home compared to the same month last year.
The Fraser Valley Real Estate Board recorded 1,308 sales on the Multiple Listing Service® (MLS®) in February, compared with 1,413 during February of last year, a decrease of seven per cent. LINK
US:
Bernanke urges banks to forgive portions of mortgages
By Peter G. Gosselin and Marc Lifsher, Los Angeles Times Staff Writers March 5, 2008
WASHINGTON -- Saying banks must do more to stem rising foreclosures, Federal Reserve Chairman Ben S. Bernanke called on lenders Tuesday to go beyond trimming interest rates on some troubled mortgages by cutting the size of the loans as well. LINK
FRASER VALLEY HOME PRICES REMAIN STRONG
IN FEBRUARY
(Surrey, BC) – With greater choice available, Fraser Valley home buyers continued to snap up properties in February, paying on average seven per cent more for a single family home compared to the same month last year.
The Fraser Valley Real Estate Board recorded 1,308 sales on the Multiple Listing Service® (MLS®) in February, compared with 1,413 during February of last year, a decrease of seven per cent. LINK
US:
Bernanke urges banks to forgive portions of mortgages
By Peter G. Gosselin and Marc Lifsher, Los Angeles Times Staff Writers March 5, 2008
WASHINGTON -- Saying banks must do more to stem rising foreclosures, Federal Reserve Chairman Ben S. Bernanke called on lenders Tuesday to go beyond trimming interest rates on some troubled mortgages by cutting the size of the loans as well. LINK
Monday, March 3, 2008
Recession???
Things are not looking all that hot today.
- Gold, oil rocket to record highs
- Canada's economy stalls
- U.S. auto sales slide in February
- Buffett sees U.S. recession now
I don't know about you, I think we are in for a serious economic slow down. Everyone claims we will be ok because of other countries buying our resources. Unfortunately the US is still our largest customer by a long shot.
Get out of debt, inflation is on the rise and higher interest rates are around the corner.
