While our nation’s economy, and indeed the world’s, still struggles with uncertainty in the credit market, leading to similar problems in virtually all markets, a little good news last week offered a glimmer of light.
Existing-home sales – including single-family, town homes, condominiums and co-ops – rose 5.5 percent to a seasonally adjusted annual rate of 5.18 million units in September from a level of 4.91 million in August, and are 1.4 percent higher than the 5.11 million-unit pace in September 2007, according to the National Association of Realtors.
And, gasoline prices dropped hard in recent weeks, declining by some 30 percent from this summer’s outrageous highs with prices getting close to $2.50 a gallon in the Murfreesboro area.
While neither of those improvements by themselves or even collectively serves as an economic harbinger, just having some good news economically at the least breaks up what has seemed to be continually bleak news on every front involving money and finances.
Likely, the improvement in home sales in September was thwarted in October due to the struggles and adjustments in credit markets.
Still, rising sales are a positive, and October’s issues should be resolved as the government bailout begins to work itself through the market.
The gas price decline simply puts a little more money in just about everyone’s pocket every week.
Just as higher gas prices force almost all prices higher and divert consumer spending from everything from movie tickets to groceries to dining out, improved prices helps spark more broad-based economic activity.
Economically, we still face a number of grave issues. But, some good news finally gives us hope and a place to start hoping.
•••
Undoubtedly, a lot more televisions in Rutherford County are tuned to the World Series currently under way between the Phillies and Tampa Bay Rays.
The extra sets are local fans rooting for rookie phenom David Price of Rockvale, Blackman and Vanderbilt fame, the No. 1 pro baseball draft pick in 2007, and getting plenty to cheer about.
Price was called up to the Big Show in September and made two phenomenal appearances for the Rays in the American League Championship Series, getting a win after coming on to close out Game 2 and a critical save for the Rays in Game 7 when he pitched out of a bases-loaded situation in the eighth inning and then won the game.
Price did it again Thursday night, coming on in the seventh with the Rays ahead but facing a Philly rally. Price got the Rays out of that jam and then finished the last two innings as the Rays evened the Series at 1-1.
More of a rookie pitcher couldn’t be expected.
Price is a point of pride for this community and makes a great showing for himself. We wish him well for the rest of the Series.
|
Email
Print
Facebook
StumbleUpon
Google
Yahoo!