Dear Friends and Family,

“October’s poplars are flaming torches lighting the way to winter.”

Fed unveils steps to aid economy: In response to the chronically weak U.S. economy, the Federal Reserve launched an aggressive new effort to boost the stock market and make borrowing cheaper for years to come. In addition, it made it clear that they won’t stop there and are ready to try other stimulative measures if hiring does not pick up. Chairman Ben Bernanke cautioned that the actions are no panacea for slow growth and high unemployment, but the idea is to quicken the recovery. The Fed will spend $40 billion a month to buy mortgage bonds to make home buying more affordable.

Can you believe what you read? Headlines screamed “11.4% of all US homes are vacant.” While technically true, this includes 8.6% rental and 2.1% homeowner vacancies. The rental vacancy rate is the lowest since 2002, and homeowner vacancies have declined steadily since 2008. Always look at data in historical context.

Quick Notes:

• Fidelity tax forms will be available for eDelivery in January 2013. Contact Vicki to enroll.
• Reminder: If you are 70½ and haven’t taken your required minimum distribution (RMD), please contact us by December 31.
• This month’s portfolio reports may arrive a week late.

Seminar: October 17th at 7:00 pm in Issaquah – “Why Now?” for young professionals. RSVP to Vicki@katzfamilyfinancial.com.

Sincerely,

Katz Family Financial