I say the market will do this

[bjhcpa]

on another note, it does not appear that regional banks are having any type of credit crunch that are effecting the larger institutions. At least with the regionals i have met with recently all stated the same thing, their biggest problem is they have to much cash on hand and not enough qualified people to lend to. We did not have any difficulty getting additional financing for upcoming locations.

SBA loans at 6.75% - 7.25% now depending on who you go through. (they were around 11% this time last year)

[Tanning Queen]

UV Man, I agree that investing in SOME areas is not good and should wait for a year or two til it bottoms out. But that cant be said for ALL areas.

I have lost houses for my clients because of bidding wars as recent as Wednesday. There are many deals to be made with banks that want the past due loans on their desks to go away. I do alot of short sales and work with alot of REO's for banks. My market is not really falling anymore. We also didnt shoot thru the moon either when the market was hot.

Investments are there you just have to know your market.

And yes, loans are there. Regional banks are a great way to find them. Some are even offering great rates on savings accounts. I know of one near me offering 6% on a savings account.

There are also some larger lenders NOT in trouble. Like I said, PHH Mortgage is one of the top 10 lenders as of 9/4/08 according to National Mortgage News Daily. And was one of only 2 lenders that actually had numbers better than 2007. 8 of the 10 on the list are all in trouble now.

[UV MAN]

Yes indeed, all areas will bottom at different times. Still, too much uncertainty in our economy/market right now to make any financial move. Better to sit on cash right now.

Better to buy during during the sideways consolidation as it is always IMPOSSIBLE to pick a bottom in anything we do.

Just need to get this damn crystal ball working right again.

[baskinthesuntanning]

The economy won't stabilize until the housing market is back to normal. Once it gets back up a bit, everything else will follow... Also, the media is one of the worst instigators of the recession.

[Bronzer]

Dow down 40%....oil down 40%. Coincidence or is there an explanation?

[Sheri]

Gas is only down b/c of the elections. Lets see if they go up just in time for holiday travel! And if they dont then- its only that they will hope some people will have some money to spend at the retailers for Christmas. After that- I expect it to go up in the spring.

I am telling you- they are programming us to expect the higher gas prices. C'mon- we get excited and think we are stealing gas at 2.99 and below!

[baskinthesuntanning]

I think October could be one of the worst months for all of us. Until elections and with the current drop in the economy, and everything that happened last week, it's going to be interesting to see how we're all effected.

[gottatanfl]

Gas is at $2.99 a gallon here this week but I expect it will go up just before the holidays.

When diesel comes down a little more I will fill my boat tanks, I'm not going to wait to long as I'm sure it will go back up soon.

[uv2021]

" Also, the media is one of the worst instigators of the recession."[quote]

Just look at what the media has done to tanning!

[Jim Fisher]

Gas is below $2.00 here in Maryland and I believe a barrell closed at below 57 bucks today

[gsunmasters]

Gas here in Fla has been around 2.10 lately...

As to the beginning of the post....wouldn't surprise me a bit if market gets down to 7000. No one knows for sure....seems like only daytraders are trading these days...

it might also be where fortunes could be made for the lucky few that pick some good bargain stocks..

[SunMan49]

Triple AAA predicts $1.50 for gas by January..already paying $1.87 in parts of Metro Atlanta....

[Sheri]

Paid $1.80 for it yesterday at Sams club I feel like I need a mask when I pull off! SHAME!

[enuf]

I just paid $2.17 a gallon.

[Kathe]

It's $1.93 at Sam's here. That's the lowest. Most stations are $1.97 - $1.99. Nice to fill up and not pay $100 for it.

[Tanning Queen]

I cant believe that their is one Sunoco still charging $2.78! Go down the street and save $.50. I can't believe people were actually filling up. Idiots!

[luv4life]

$1.85 in Des Moines Iowa

[luv4life]

gasbuddy.com

[John]

I paid 1.81 last week end, the price ranges here from $1.79 - $1.89 for regular unleaded.

It is going to take more than lower gas prices to turn the economy around. There needs to be job creation, so people can make money, to buy houses, cars, & such. Without jobs the housing crisis will not soon get solved.

Do you bail out the Auto Industry? Or let them go bankrupt, kick out the unions & restart as the Big 1 instead of the Big 3. Then maybe they could make affordable cars for the US.

[UV MAN]

Don't feel the other shoe has even dropped yet. The major drop off we have seen is due to the housing industry. Which was well deserved I might add.

The next quarter you will see more lay offs and unemployment rise even more. Quarterly earnings will come out and be even worse then last quarter. A rise in unemployment will hurt our economy and the housing market even more.

We still have 1-2 years of this crap.

Funny how people in the housing industry say we are at a bottom or demand is increasing. Yea, demand of Forclosure buying and that is it. We had a 10 year up trend in housing prices. We have dropped for only 1 year and people are freaking out. We need 1-2 more years of falling prices. Funny, houses increased 100% in most areas the past 5 years and dropped 40% the past year and many people feel the drop is over - CRAZY.

The economy is now starting its second level of a resession. The economy will continue to drop next few quarters because of earnings and NOT housing. The Dow will go to a new low for 2008 and unemployment will continue to rise. We still have 1-2 years of this crap.