Thursday, September 22, 2005

Feds Up Interest Rates

With a new storm hovering over the Gulf, the FED decided to continue to raise interest rates.
The reasoning is concern over inflation, especially high energy prices. Only time will tell how the continual up tick in rates will affect the rebuilding in the wake of one and possibly two major disasters. Higher interest rates will definitely be felt in our local real estate market. Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo and the rest of the South Bay cities may soon feel the rise in rates reflected in slower sales and less dramatic price appreciation.

No comments: