Low inventory couple with limited number of properties for sale in Santa Clara County, multiple offers are common. On the last day of May, there were 1,663 homes and condos for sale in the county. That was up a smidge from 1,552 in April, but way down from the 3,167 properties for sale in May 2011. That is a 48% decline. There is no easy fix for the inventory problem. While this tough on buyers, sellers are very happy.
Francisco Blanch, Head of Global Commodity & Multi-Asset Strategy Research at the investment bank, says he expects the Federal Reserve to initiate an asset-purchasing program of as much as $500 billion in the second half of the year, which will drive spot gold much higher by the end of the year.
“We think that $2,000 an ounce is sort of the right number,” Blanch said on CNBC Asia’s “Squawk Box” on Thursday. “We believe that ultimately the Fed will be forced to do quantitative easing . If it happens in September, as our economists expect, we will get a rally sooner in gold. If it happens after the election (in November), we will get the rally a little bit later; probably we will touch $2000 an ounce sometime next year.”
