If you own a home, chances are you are racing to refinance and mortgage brokers are calling you. Lots of folks are taking advantage of record low rates on vanilla-flavored 30-year loans. Cash in your pocket! Some are wondering, is it time to pick up a second home? Invest in a downtown condo?
Moreover, oil has crashed and there is little that OPEC or traders on global and virtual exchanges can do about demand reality. Is it time to pull that SUV back out and drive it around town? Maybe take a weekend trip with the kids? (There are lots of hotel deals!)
Is this how its gonna play out? Are we gonna stumble out of this recession and back into our old habits? Remember in about two months the Fed will be writing out a lot of checks. Record spending + cheap money + cheap commodities = ? What do you think? Happy Holidays to all!