Daily Archives: November 3, 2010
Pittsfield, Massachusetts defeats proposal to let women go topless. I was born in Pittsfield, but I’m sure not going back now to visit.
Assuming Dan Malloy prevails, and it sounds as though he will, Connecticut’s going to have an almost 100% pure Democrat legislature next year. That may be a blessing for Connecticut Republicans because the state is in really, really sorry condition and terrible things may happen over the next few years.
I was speaking with a friend in the financial industry awhile ago and he was explaining his strategy behind his investing in municipal bonds. He figures that interest rates will continue to drop and he can capture the spread. “What happens when states start defaulting?” I asked. “Won’t interest rates for municipal bonds soar? Then you’re screwed”. He says he’ll see it coming and get out in time. I’m not so sure.
I spent most of today with a friend at the Campfire Club sighting in our rifles for the great American deer hunt in Maine next week (you may cheer for Bambi if you like – he’ll probably win). But I came back to check on real estate activity: zero, zip, nada. No contracts for the second day in a row, no exciting price reductions and certainly no new listings that merit discussion. We had two contracts reported on Monday, one for a third less than it had asked 2 1/2 years ago and another in NoPo for $545,000, and that’s been it for the week.
I know that I, and plenty of other buyers’ agents have been busy showing houses so there are buyers, but it’s becoming clear that anyone who doesn’t have to sell in this market isn’t doing so. That leaves thin pickings and certainly suggests a lean Christmas. I think the market is going nowhere and will continue that inertia for a long time.