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The Knak

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In Robert Knakal's year-end recap, the chairman of brokerage giant Massey Knakal (and God among men) sees hope for the housing market: "While inventory is high and prices continue to decline, there is one glimmer of good news not reflected in the latest statistics: a sharp drop in mortgage rates in recent weeks tied to the Federal Government’s efforts to support the housing market. Although tighter credit terms are restricting many potential borrowers, lower rates could motivate potential buyers to get off of the sidelines, which should slow the price declines." [Massey Knakal Reel]