It is amazing to see the Dow Jones soared more than 217 points. Why crowd in Wall Street interpret this as the last raise because it is the 17th consecutive raise? This is really a Gambler's reaction. It is like a Gambler seeing the Ball landing on the red on roulette 17 times and is expecting the 18th will be black.

Fed raised interest in order to cool down the inflation and hope not hurting the economy.

Will the weaken real estate market be suffered? People who took out equity on variable interest rate will have to pay more than 8% now. The last few years in real estate market was fueled by investors, if the tipping point is reached that investors cannot get a positive cash flow or something unexpected, houses will flood the market and push the market to a collapse.

According to Multiple Listings Service of Long Island, in May 2006 there were 7,006 properties available in Queens County (4728 in May 2005) and only 864 going to contract. That is 8-months' inventory.