In the September edition of News From Nexus, this was the prediction from Dale Clark, President of Nexus Realty:
According to the Wall Street Journal, the cut was deeper than expected. Most economic analysts were projecting the Federal Reserve would reduce its rate by a quarter of a per cent. It has been four years since the last reduction of U.S. interest rates.
“If the Fed [the central banking equivalent in the United States] drops its rate by half a point, the real estate market will begin to turn. People with money will start to come off the sidelines. The time will have come.”
The time came this week. The Fed dropped its interest rate by half a point.
According to the Wall Street Journal, the cut was deeper than expected. Most economic analysts were projecting the Federal Reserve would reduce its rate by a quarter of a per cent. It has been four years since the last reduction of U.S. interest rates.This more aggressive move had an immediate effect on financial markets, with all U.S. stocks initially climbing and then fluctuating later in the day.
Now, for the real estate market, the stage is set for people to “come off the sidel
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