Thursday, August 4, 2011

Today's Stock Market Plunge

I have clients who are actively shopping for quality commercial/investment real estate after having exited the stock market about six months ago. They are redirecting millions of dollars toward real property and away from the market tsunami many of us saw coming. We have not spoken yet, but I am confident they are breathing a sigh of relief that they got out long ago.

I have another client who wants to purchase investment real estate -- up to $1M -- in an all cash transaction. He was going to pull money out of the market. We have not spoken yet, but his plans may have changed after today's 500 point market plunge, and day after day of market drops as a jittery Street wonders what the hell the White House is thinking when it comes to a bent toward confiscatory tax policy and an empty rhetoric on jobs creation, and an over-reliance on blaming the previous admnistration for its own problems.

What will Friday bring?

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