The Right is not Undecided
What does that mean? To me it means most of the undecided voters are on the left. My guess is that when push comes to shove, 75 % will go Democrat in the ballot box next week. It could be an interesting election. Maybe I am dreaming, but going back to the economic policies of the previous ten years is not my cup of tea.
In talking to a friend at lunch last week, he said “I just want to go back to what we had”. I pressed and asked, “so you want the bubble back ?” After a bit of shuffling about he said ” we bought a house in 2007 for $ 725,000 and now it is only worth $ 450,000.” He didn’t like my answer that the real market value in 2007 (based on trend line values) was probably $ 450,000 and he just overpaid. What hit me is that while this couple is not in foreclosure the loss of paper money in their personal balance sheet is probably the number one election issue for most Americans as 90 percent are working. Ironically when I got home I went to Zillow.com to check the value of our house and it has risen 10 percent since June 30th. What is that about?
Still waiting and watching the markets as the Fed action debate continues.