My friends David Israel and Andy Hodes in Chattanooga are two remarkable business people - “win / win” or no deal.

Great neighbors in Chattanooga, and certainly the most innovative agents working the Chattanooga market.

So why does that matter to Intown Atlanta and Decatur Buyers and Sellers?

Well, this post at the Scenic City Scoop should give you pause.

Posted June 6, 2008.

Usually the monthly Employment report is the main event of the week, but Fed Chief Bernanke stole the show. Following the theme of other Fed officials in recent weeks, Bernanke focused on inflation risks in multiple speeches, and his comments were unexpectedly direct. According to him, inflation expectations are a “significant concern. He explained that the decline in the value of the dollar and the increase in the cost of energy were adding to inflationary pressures. Inflation is negative for mortgage investors, and mortgage rates rose for the fourth straight week due to increased concern.

At the end of a volatile week, investors were closely watching Friday’s important Employment report. The headline number came in right on target, with a loss of -49K jobs in May. The big surprise came from the change in the Unemployment Rate. Expected to rise slightly to 5.1% from 5.0% in April, it instead jumped to 5.5%, the highest level since October 2004. Economists attributed the spike to an unusually large influx of young adults entering the labor force to find summer jobs, so the reaction in the mortgage market was modest.

ALSO NOTABLE:

* In May, the Unemployment Rate showed the largest monthly increase since February 1986

* The Bank of England and the European Central Bank both held rates steady

* The Fed’s Lacker suggested that the programs put in place to ease the credit crunch may encourage excessive risk taking

* Oil prices declined as low as $122 per barrel, but then rose again to record levels near $135 per barrel

So this morning, I read that post. It reminded me that we all need to be cautiously optimistic.

I have to be optimistic - I have to do that because of this little girl who expects an optimistic Daddy. That means a Daddy who is all about growing his business in a transformational Intown Atlanta and Decatur real estate market.

Here are my comments on the Bernanke article, and a few promises…

1. Lee Taylor said at July 5th, 2008 at 4:17 am As always, David and Andy, two financially astute Realtors, keep us in the know.Gentlemen, I am concerned - jaded even - about the strength of our financial, housing and consumer sectors. So much so, that I believe their overall values are in an unavoidable epic tailspin. I’m still gonna buy and sell real estate for the next 20 years in spite of that. Nothing but good buyers and serious sellers for the next 20 years.I read John Mauldin every week - here’s a link to a post about him - http://intowninsider.com/?p=269   … is a wide open to possibilities, bearish, conservative stance on real estate holdings a smart idea whose time has come??? 
2. In Atlanta, some sellers still think it’s 2006. 2/3 of the Sellers don’t sell during their prescribed listing periods. Less than 2 out of 10 sell at the original asking price.

   At least 1/3 of all Realtors in my city can’t keep their signage erect. Disrespect for their brands and their profession is so obvious.

3. In the coming week, on my website, Mr. Bernanke and every other Washingtonian will be reviewed, as well Atlanta’s Sellers and Atlanta’s Buyers.I’m going to write a post about our shifted Intown real estate agency market as well. I shall also stay tuned to The Scenic City Scoop!

In the case of this next photo, I will correct my statement about Intown Atlanta Realtors -closer to 50% can’t keep their signs erect.