:: Sigh ::
This all might be temporary, but it seems as though higher prices are causing the slowdown in the real estate market. Why is this good? Buyers might have more leverage. Why is it bad? Higher interest rates, which means you won’t be able to qualify for a loan on your new home, even though it costs less.
ByMartin Crutsinger, The Associated Press
Consumer prices surged in September by the largest amount in more than 25 years as Hurricanes Katrina and Rita sent energy prices soaring at the fastest pace on record.
The Labor Department reported Friday that inflation jumped 1.2 percent last month. It said that 90 percent of that increase came from a record-setting 12 percent surge in energy prices which reflected gasoline prices that briefly topped $3 per gallon last month after widespread shutdowns of refineries and oil and natural gas platforms along the Gulf Coast.
Complete article: Consumer Prices Up; Retail Sales Rise