Big Bounce on Wall Street

After suffering one of the largest single day point losses in history, the stock market made a strong bounce back today and quickly gained back 484 of the 777 points lost the previous day. Speeches by President George Bush, Senator John McCain, Senator Barack Obama and other U.S. governmental leaders provided a solid sense of confidence that a recovery bill would in fact be coming out of congress in the very near future. Many investors jumped back into the market to take advantage of some of the bargains created during yesterdays sell off. Many more investors have decided to wait and see what would happen.

As is often the case, the real estate market often follows the stock market. In recent weeks, we've had a solid number of buyers looking to take advantage of good end of the season buying opportunities. With the news over the past week, however, most of those buyers have decided to wait and see how the stock market reacts to the legislation that eventually comes out of congress. Almost without exception, most analysts feel that the forced debate over the scope and structure of the recovery legislation will help to ensure it's something that will actually help the american tax payer and have longer lasting positive impacts. Like most of you, we're going to watch the news to make sure our elected officials do what they were sent to Washington to do and put together legislation that actually addresses a real problem. Once everyone is confident that has been accomplished, we'll likely see those same tentative buyers get back in the game and make a move to acquire a late season deal in beautiful Northern Michigan.

Once we have an opportunity to review the legislation that actually gets voted into law, we'll be sure to provide analysis to you from leaders in the real estate industry to help make sure you can make the most well informed decision possible. It's been quite a news cycle with all the economic headlines as well as the very important upcoming presidential election. We'll do our best to help you determine how all of this news may affect the world of real estate.