The real question is what do we do with all of the people that were associated with the housing industry? Getting a job after being on unemployment for two years is not an easy task. At that point, reality and frustration become a part of your day to day existence. Unemployed and no job? Go to college or trade school and get that degree with government loans. If you are 62 or over consider early retirement.
Want to buy a home and finance it through a bank? Your name had better be
The number of foreclosures entering the market this year range from one to three million depending on the source. Then there is also the phantom shadow inventory. If you talk to a Realtor, now’s a really good time to buy a house (loosely translated, “I haven’t had a sale in two years, am starving and six payments behind on my Mercedes”). Of course if you planned on selling your home and ease into retirement in style, things have changed a tad.
Our government didn’t save for that rainy day and now Congress can’t even pass a budget. The argument centers around, “Can we spend what we don’t have?” The Democrats say "yes" and the Republicans say "no."
We have an election coming up and the Republicans have the solution, “Try anyone but Obama.” How either party can increase the number of private sector jobs defies all logic. Governments consume taxes; they don’t build anything for consumption.
The stock market continues to go up, our retirement investments are secure, the banking system will not collapse and the housing market is as solid as a rock;>) Our present predicament, kind of reminds me of the one legged man who sold his crutches. As long as he likes where he is standing, there is no problem.