Watching The Detectives
My musical inspiration this week comes from Elvis Costello, who brought us his 1977 hit song “Watching the Detectives.” The song is about watching the folks who really know what’s going on, as opposed to the so-called “experts.”
With that said, watching the “talking heads” on cable news networks can be misleading and slanted, depending on which side of the aisle you sit on regarding the direction of the economy. The funny thing is, you’re not hearing from the “big guns”—people like Warren Buffett, and to some extent, even Jamie Dimon. Interestingly, some other notable Democrats have also remained silent so far.
It seems the high-caliber market veterans are taking a wait-and-see approach to some of the moves President Trump has already implemented—or stated he will implement—unlike the news networks, which tend to share opinions rather than report facts, turning to people with opinions, not expertise. This is creating even more skepticism in the markets… hence the giant swings last week.
The good news is that the markets seem to have calmed down since then, with mortgage rates now back to where they were at the beginning of March. The DOW has recovered about 2,000 points in just over a week. Inflation continues to show signs of moving lower (even the prized possession—eggs—have gone down in price), and retail sales were higher than expected.
But you don’t hear much about those things, since they’re “good” news. Instead, we keep hearing about the looming economic disaster from the talking heads. They really need to start seeking insight from those who consistently make money, year over year, in good markets and bad. Right now, I’m pretty sure we won’t hear from those folks. They’re watching and waiting, like detectives examining all the evidence before drawing conclusions, not trying to sell commercial airtime or push a political agenda.
Time will tell. In my opinion, it’s still a little early in the game to make a judgment. The sky is not falling… yet.
Remember… the BEST RATE… IS A LOCKED RATE… with a float down… ask me about our program that allows you to lock your rate and then float down if rates move lower.
Make sure you (or your buyer) get pre-approved before looking at homes so we can determine if you are looking in the correct price range and have you armed to submit an offer with a pre-approval letter!
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Blog post date: Thursday, April 17, 2025
