At midday on December 16, the Fed will begin a tightening cycle, raising the overnight cost of money — the Fed funds rate — for the first time since 2004. Finance professionals in their thirties have had no firsthand experience with the event. This will be the ninth such cycle since 1955. The most important thing: how long (oh Lord), how long.
In November, Howmuch.net released this visual examining economic growth across the country. It’s a great visual, and it’s one I initially relished because it was clean, comparatively descriptive, and it made me think that real estate agents should hitch a ride on the next wagon train to participate in this gold rush. But hold on.
If you own a home in Denver, now is a great time to sell. If you live in Manhattan, sit tight for a while. That seems to be the message of consumer-directed real estate brokerage Owners.com, which has released a list of the top 25 metropolitan statistical areas, ranked by home price changes.