REMAX agent Deb Giroux talks to Barry
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Jonathan Cheng, WSJJonathan Cheng, WSJ
point to -- Is this part of what's being orchestrated by the Federal Reserve you know we've had 0% interest rates now going on five years. Is it finally is is what's happening here I've seen it 88 and where people say youIt raises you know pushes up the S&P 500 pushes up the Dow Jones Industrial Average . What you and I look at our for a one case we feel more confident we spend more money and that creates a virtuous cycle. That's the hope and it -- the wealth effect and some people say it's been five years we haven't really seen the effects but you could argue that we are starting just yet in the housing market -- starting this Viet. You know with hiring a little bit. But. We don't have a lot of -- There's a school of thought though Jonathan that the Federal Reserve shouldn't be acting in that capacity in terms of what you -- there. It -- when I drop and I studied the -
Caroline Ratcliffe, senior fellow at the Urban Institute
Caroline Ratcliffe, senior fellow at the Urban Institute
and 2000 and African American family thought their -- I about a Eric Anderson in comparison to white Stanley who -- that there was well all out by -- and. Widely again widely disparate deal because -
Warren Mosler discusses Deflation
Warren Mosler discusses Deflation
Would do what is your analysis tell you we will see for oil prices between now and the end of the year. Does that are we gonna decline and it that's an attack brake force. Itchief economist -- -- is it if it's daunting. To consider that oil prices are sat by like a handful people. It really isn't he didn't say it with such calm and ten cent certainty I -
What's Up On Wall Street - Deb Borchardt, The Street
What's Up On Wall Street - Deb Borchardt, The Street
is the big. And had a -- -- medical medicinal Canada for cancer patients And I if you watched Showtime's weeds. At the end of the reason they had that whole like legal marijuana for cancer patients and minds of. If she got a John and I do remember that. In fact. Play us out there at the company coming out this week and they have a product and they are expected to start to turn a profit. They have not. -- making money inspected and losing millions that there are expected to make a profit and they. Most of their drugs or pain drugs for cancer patients which act McConnell just did is that still good thing yeah but I think that Allen has really becoming interesting. He irreversible felony. It is going to give BI and asked why. And that's why I like it seek him Harris she's ready now went down play -- -- kind of IE yeah now I it's not a it's not a big deal at 68 million but I just being well liked -- that I'll I'd like to these stories of drug companies that help. Cancer patients and I like pat. You know they are expected to start to turn a profit and then and then not part of
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You know it's very rare that you'll see four days in a row where the Dow's down 100 points Keisel -- -- six times can so we've had three days with the Dow's been down more than a hundred points -- is not -- Well I'm looking at the your forehead it's it's like bringing up little sledding it's not good when carries -- -- that they can -- it's actually up right now opening up 92 points NASDAQ down seven. S&P 500 is up three oil trading up 52 cents to 9058 tenured US treasury still at one point 41. Gold is trading up 2530. To sixteen once so it's not too bad I knock on wood it's. Second thought we're gonna have a really bad day after that apple announcement said oh boy this could be two or 300 point day tablet and get the caterpillar right so write those -- up 67% and you tend to focus on the bad stuff. And that's the the nature of the beast a -- well. -- I we talked yesterday June about. Real state in Boston retirement a retirement that story in the globe on the Condo sales -- kind of sales hot setting record prices in the city. I wanna know how the suburban market is doing we're joined by Mary's room she's a re Max realtor and -- welcome to the show are you doing. Aren't. Good now Mary you work up on the North Shore where you and and overs -- Denver's art work in Wilmington OK let's. You know that's that's a bit that's not the hot Boston Condo market. How how the house that we -- the suburban rural state market up on the North Shore. Very busy. Reviewing numbers. You know -- -- to -- today. I was kind of surprised by -- same. I had thought it spotted a couple of bad -- And holding it steady or even have to have dipped a little bit in the past couple of week. Would have -- sales volume because we read. Bet you know Condo sales I think Europe maybe 3040%. Year over year. Housing sales are up and -- talking statewide figure up about 19%. But prices work -- In other words the aren't what's happening is as is the psyche now where people have said. You know I've been trying to sell this place for ten years I'm not gonna get money my dream price so I'm gonna settle is that what's happening -- buyers coming out of the woodwork with with how. The nation but to be honest with you and you know because the prices are they are we both know the numbers don't lie. So I think that the fellas have kind of come to that conclusion now and it stopped they'd stopped laying part to increased dramatically. And that made it -- it. -- -- -- -- -- -- -- -- -- -- And other words and not apple -- they are property. Who are the -- in the suburban real estate market has we're reading that there's this gravitational pull towards the city. That everybody now wants to leave and live in the city. Who's buying homes in the suburbs. Ironically a lot of people coming from the city of by Albert. And also. There are people that has outgrown their arms and and they are waiting to make this move. And have decided now ops side yup and of course the usual downside is not too many at. And -- still plenty of first time homebuyers right now but I will say that a lot of first time homebuyers to work. In this city -- -- looking for properties and have access to a commuter rail. Cases they wanna take the train is train in as opposed to driving. Howry inventory levels like if you've had sales volume is up -- you said that earlier in the state. Bringing it down EU really is. So that -- it's that is that it. In that normally Mary when you have inventory levels down prices will be going up that's not happening. Not yet now and it's funny because. Well contending with the regular cycle real estate in July it's usually pretty well. You'll see -- clothing but not a lot of new under agreement. So you know in August and September we have another flurry before it get flow you know for the winter month. So I mean that's the typical real estate like by and then what combined all these other actors right now imagery as well yeah. Sales -- -- I mean it actually it was electronic eyes. All open how lonely and at the post the previous yet they're only 840. Don't attract significant increase. Well that's yet that's a 3040%. Uptick. In Wilmington Wilmington is a very desirable content to reading in that area -- a couple of friends listening -- you know they live right outside the 128 area and you know wondering am at my house on the market right now what's the deal. How long maybe the homes staying on the market until they get put under agreement -- canceled at this point in that era. But -- and -- recently it at that time shortened it used to be 9220. Days. It's not -- you know under agreement analyst Stephanie seven or -- elapsed. Well that's hard to rendering but again you have to make your house show ready you have to price it right. Safe from terrorists are beat up in the past few years and they are not gonna do all right track or out now. -- -- I I get an email yesterday suggesting that there's this new wave of foreclosures that are about come to market. Is that gonna impact the suburban Boston and even really the New England real estate market if if you do you have a wave of foreclosures is there a lot of stuff sitting on the does you know where we're Freddie Mac and Fannie Mae foreclosed on and just not put it up for civilian. They were a lot of those that were waiting at legislation that passed last year. And military -- trickling through now that accelerated the files. So those -- starting to move through the process quicker than they weren't that kinda that's there for a long time. And out there now that started it again -- gotten a dark and a row. Is that it paperwork in order they know what the government expects of them. To get these processed the correct way. So they don't get it and and -- it has started coming true although Massachusetts is one of -- state and actually. In doing that well all along that they will be on a pretty good job of getting me. Properties through the process. States like what I want to -- not so much in a lot more note here is. -- -- Rhode Island and Maine you'll see a lot more are well Mary thank you very much I appreciate your time. Thank you very welcome thanks for having me. That's merry Giroux she's a rematch -- joining us today given us the lowdown on what's going on at least north of Boston. That's amazing part went silent five verses 140. That's gone up and Alec but she says about houses not staying on the market for as long as they used it anyway couple years ago.
