It has been a few weeks since the last time I wrote.  The past few weeks have been very busy but I am back.

What’s going on in the world economy?  Most people think very little.  However things are getting better.  The trade deficit in the US widen in May.  The cause of this is that the value of the dollar has gone up making US goods less attractive to foreign buyers, the European debt crisis has limited overseas demand, and China’s economy slow down have all contributed to the increased. 

Although the deficit has grown what is important to note is that the business is still picking up.  Exports grew in May with the sales of industrial equipment, business machines, and semiconductors.  Imports rose as well with an increase in cars, pharmaceuticals toys and clothing. 

The shining star is the earnings report from Alcoa Inc.  They have reported an increase in sales to the automotive industry by 8 percent and sales to the truck and trailer manufactures by up to 17 percent.  The business environment continues to get better and the Alcoa news is important.  A few weeks ago I spoke of the world wide increase in demand for diesel fuel.  The increase in sales of aluminum to the truck manufactures indicates an increase in demand for trucks.  Trucks haul the majority of goods in the world and more trucks on the road indicate and greater demand for consumer goods Consumers are coming out from under the bed and are back buying.

The Housing Market in Morris Plains has slowed down for the summer.  35 Homes are for sale.  The absorption rate is about 8 to 9 months.  Things should pick up as we move into the fall when people are back from vacation. 

Interest rates for a 30 year fixed rate loan are around 4.5 to 4.75 percent.  Recently I entered the interest rate market for a 5 year adjustable rate loan.  I have been quoted a rate of 3.5.  Not bad mi amigo.  Low interest rates, contrary to popular opinion, are here to stay for at least another 6 months or so.  There is no inflation and unemployment although high has stabilized.  This news maybe an  indication of an improving  economy at least on the local level three people on my street have found jobs. 

So things are getting better just keep the faith and keep moving forward.  Remember “Be the Shark always swimming always moving “

Thank you for reading my Blog Morris Plains NJ Homes.  Here is the Quote;   Act as if what you do makes a difference. It does. “   William James

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