The Market Bull – December 4, 2018
The trade war truce was supposed to goose stocks and the markets in to next year. One little bump and today a blood bath with the major averages marking 3%+ losses. While the yield curve briefly inverted on Monday it has come painfully close multiple times in the last few months.
Recent data on the Bay Area real estate markets shows a number of troubling trends. Sharp jumps in inventory for sale over the last 4-months has seen inventory essentially double.
Price cuts on existing listings have also grown dramatically in the last 4-months.
With inventory up sharply price cuts are inevitable. The median asking price peaked in May at $1,369,200 and has since fallen by $132,100 or by nearly 10% from the peak, to $1,237,100. Compared to November last year, the median asking price dropped by $71,200 or 5.4%. Thanks to WolfStreet.com for the Charts.
Standard and Poors 500 Index closed at: 2,700.06 down 90.31
NASDAQ finished the day: 7,158.43 down 283.09
Gold ended trading at: $1,243.60 down 3.00
This is Caleb Lawrence Registered Investment Adviser I can be reached directly 831-334-5318 or stop by my office 5321 Scotts Valley Drive in the Scotts Valley Plaza, Suite 202, Scotts Valley, Ca, 95066.
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