Sunday, August 3, 2008
Mass Economy mkt is bottoming out
Nationwide, US economy are not out of the woods yet fueled by tightening credit market, continuous housing slump, and still high depsite falling oil prices. Regionally, some economies might be bottoming out. Mass is probably the one. Mass economy is dominated by technology, financial, and bio-chemistry. During the crdut crunch, financial institutes are impacted. But the epicenter is on sell side, especially WS banks. Boston accomdate buy sell firms, which are less impacted by credit crunch. Housing market in Mass has seen signs of bottom-out too. It S&P Case Schiller index indicates that nationally median house price dropped while housing prices in Boston metro rose by 1% over June 08, snapping the loss streak. A recent report on business bankruptcy filings (http://www.creditslips.org/creditslips/2008/07/revisiting-incr.html#comments) indicated that Mass was off the top of the list of bankruptcy increases from 2nd decile in May to the 6th decile (16.9%).