Four benchmarks to indicate credit crisis end.

• Author: Heffes, Ellen M.
• Position: ECONOMY

Businesses and individuals are waiting for some signs that the U.S. economy can grow its way out of the current housing and credit crisis.

On Oct. 3, the day of the Congressional vote for a $700 billion rescue plan, the Dow Jones Industrial Average declined more than 158 points; by press time, volatility was continuing, and often to the downside.

Earlier in September, before the rescue plan, Standard & Poor's Market, Credit and Risk Strategies created a four-point checklist of economic and market variables and identified the general developments to track.

The four are:

1. Real estate values--must stabilize or edge higher.

2. The rate of existing new home sales--must rebound.

3. Credit conditions--must ease up substantially.

4. Crude oil prices--must continue to decline, and then stabilize.

   Writing in Business Week, on...