OIL PRICES TUMBLE below forty dollars. Just a few months ago, people were projecting high prices into the indefinite future. Remember that as you hear other projections today.

UPDATE: Reader Andrew De Villers writes:

Re your post on “projections” – in my case buying a home, and getting a great deal! I am buying a foreclosure property in Florida for my family. The lender, now dumping their REO properties, agreed to let it go for 52 cents on the dollar.

With good credit scores (over 800) and providing full documentation (no-doc or stated income loans are no longer around) I secured a 5.25% 30 year loan.

And just this morning my mortgage broker floated my rate to 4.875% as a result of the Fed’s meeting yesterday. I close in 6 days.

There are terrific deals out there for homebuyers. I am not a “herd” mentality person. I knew I’d find a deal while others remained static in the bad-news data cloud.

I hope your readers take advantage of the economy – I certainly did!

There are certainly good things out there for people with cash, or good credit.