Home : Blogs : Steve Hoffacker - Real Estate Sales & Marketing Consulting and Strategies : Steve Hoffacker's Active Rain Blog

Who do you believe?

Depending on who you listen to, we're one step away from the "Great Depression," or mired in a recession, or seeing housing sales inch upward.

Can you believe the Dow Jones roller coaster - down more than 700 points twice in the past week, up over 500 on Monday and more than 400 today? This after registering the highest percentage loss yesterday? I think we know what's not working in America - and they want to risk how much of our money?

Then you take crude oil - down below $70 a barrel. Now we're getting somewhere. That should give us a breather while we get the off shore oil drills cranked up.

Oh, you did read that I said that there are markets where home sales are up?

What a wild time!

----

For more information on my coaching services or sales tips visit my website stevehoffacker.com or my blog homesalesinsights.com.

Posted by Steve Hoffacker - Real Estate Sales & Marketing Consulting and Strategies on 10/16/2008 05:07 PM

Comments (30)

Wild Economic Ride in the ActiveRain Channel

economy, stock market, oil prices, wild ride

Originally posted at: Steve Hoffacker's Sales Quips: Who do you believe?

Post is included in group: Almost Anything Goes
Post is included in group: The Lounge at Active Rain
Post is included in group: The Optimist

30 Comments on Who do you believe?

OCT

2008

I believe what Kristen moran said..."Willie Nelson for President!"

Isn't off shore drilling the same old politics? It cost alot of money and time to make an off shore drilling platform. It takes less than 1/80th of the cost for drilling in Texas, or any other state on dry land. And it takes about 10 years to build one...why do that when we are developing other types of transportation that will be perfected in less than 10 years...

point...The Chevrolet Volt will be out in 2010...an improved all electric car...put a solor panel on it and it will recharge itself.

it is very confusing ... the crude price should even go lower ... because there is uncertainty the demand has dropped so we should enjoy lower prices ... we should definetely drill the oil we have and stop depending on the Arabs ... as well as we should invest on developing technologies that utilize the rich infrastructure of this country ...

In our area, Tri Cities Washington, folks are doing business as usual. Our home prices are stable, employment on the rise, and folks are merry! I hope it's not the calm before the storm.

Chuck,

Drilling in Texas, Montana, Alaska, Wyoming, South Dakota or any other state that has reserves (don't mean to offend anyone by leaving out your state) is fine. So is offshore. Why? Because it's there and if we don't go after it China or some other country will. :)

Steve

George,

I agree. Looks like maybe the speculators are out of oil. Wonder where they're going next? Maybe back to housing? :)

Steve

Joe and Colleen,

No, you have a good market, and it's great to hear you talk about it. :)

Steve

maybe to the water supplies ;)

that is why we should invest in desalinating and purifying water ...

And they have been drilling in Montana, outside of Billings for the last 50 years and could easily do more. I know this because I grew up in Billings and my best friend Davids dad worked there. I also lived in Bozeman and a high school buddy of mine was the grandson of Phillip O'Neil...of Phillips 66 in Belgrade...now that is a great place for a refinery....

George,

Do you know something that the rest of us should? You may have something there. :)

Steve

Chuck,

That's good to hear. I know from driving through Texas, Oklahoma, and Illinois that there are active wells there also - and I know that I've seen them elsewhere. :)

Steve

Steve, didnt ya know the sky is falling? Thank goodness I do not rely on the media to tell me how my future is going to be. Oil prices have dropped a great amount, but it sure is taking the gas prices a long time to catch up. Rest assured if it were to go back up, the price of gas would be a step ahead.

Steve...

Well I for one have never seen anything like it!

Steve... You are right, every day the stock market is up and down, just like a rollercoaster. I've heard this a lot. But my one thought to that, is.... doesn't a rollercoaster go straight (and be level) for a while too. I'm still waiting to see that with the stock market.

valerie osterhoudt

Steve, I believe that the DJIA is not an accurate indicator of our economy and with all the wild swings in the market this past month, it is clear there is something there we lowly plebecites can not possible comprehend. The good news is that most of Wall Street does not either

Tim and Pam,

That's why gas prices don't drop as fast or go all the way back to where they were - it's quicker to get them back up this way. :)

Steve

Richard,

For the most part I'm observing it and ignoring it. The issue is that there are a lot of knee-jerk politicians in DC who are quick to react (rather than respond). :)

Steve

Bo,

With only 30 stocks, how could it be an accurate indicator? However so much attention is paid to that number that it might as well be the only number. Stay strong and positive. I intend to. :)

Steve

Valerie,

It goes straight when you get on and off - maybe an apt analogy. :)

Steve

Hey Steve, I was excited to see gasoline around our town at $3.29. What a relief!

Teresa,

We are even seeing a little less than that. That's good news. :)

Steve

Steve I was happier to pay $2.99 here in Naples today .... whew - happier not happy and our pending sales are on our eighth month of improvement ... any improvement is positive and I'll take it!

Shannon,

You guys are doing great with gas and sales. Haven't seen gas that low although I've heard that it's out there. :)

Steve

OCT

2008

Good Morning Steve,

I spoke to a stock broker that has been in the business for 50 years... His head is spinning. The big problem is that the stock market is just a side show to the credit markets. The problem is that no one understands the credit markets and thus, it is not reported. It is the lack of liquidity that is causing the roller coaster ride. when banks are willing to lend to each other again we will begin to see the dust settle... just be prepared for a bumpy ride for awhile, and keep your tray tables up and your seat belts securely fastened!

Robert,

Thanks for adding some clarity to this situation. What does your crystal ball tell us that we might prepare for? :)

Steve

I may have better luck with a magic 8 ball than my crystal ball!

It keeps saying "ask again later"

The mess we are in is truly due to a lack of liquidity. There is more than enough cash flowing in the economy, but world wide banks are running scared and sitting on their cash. There is still more than enough residential money to lend, but banks are scared to lend to banks, and corporate credit lines are drying up... this is a huge trickle down that goes straight from wall street to Main street. I wish I had an answer for you... Consumer confidence is the key. When the customer starts spending life will begin to return to normal. lower gas prices should help, but the negativity in the media becomes a self fulfilling prophesy... You keep telling people how bad things are and eventually they are going to believe you.

Robert,

Which is exactly what the media wants because then they have job security (they think). :)

Steve

The DJIA is only an indicator of how the gamblers are feling...if they have confidence...they buy and drive the price up...if there is a lack of confidence...they sell and the price goes down...unless you invest billions like WB and fool people into beleiving something is a good buy, and then you sell it before they find out...it is only illigal to manipulate the market if you have a Securities license.

Gas prices are down here, $2.89 - 3.23 depending on where you shop. It is a crazy time. Time to adjust the thought process and whittle down the budget for me!