Posted on 05/30/2011 9:29:40 PM PDT by 2ndDivisionVet
The U.S. housing market is going through an adjustment of historic proportions. Before 2006, when the housing slump commenced, American home builders regularly built as many as 2 million new houses annually, rarely less than a million. This amount was needed to keep up with new household formation, immigration, homeowners moving up, and replacement due to obsolescence. Since then the number of new houses built has dropped drastically—the seasonally adjusted annual figure announced by the federal government in February 2011 was about 400,000! What's going on?
The recession, obviously. High unemployment and unease about the economy have made potential first-time homebuyers leery of entering the market, and many have decided to wait on the side lines. Although house prices have fallen, few are convinced that they have bottomed, and no one wants to buy a house and see its price decline. The large number of foreclosed (or about to be foreclosed) houses on the market, which account for no less than four out of 10 sales of existing homes, likewise dampens demand for new houses. And those willing to take the plunge discover that, despite low interest rates, lenders who were burned by the subprime mess now require large down payments. The other chief cause for weak demand is a slowdown in household formation—the U.S. Census reports that the rate of household formation is currently lower than at any time since 1947, as people put off getting married and starting a family. According to my colleague, real estate economist Peter Linneman, the marginal household size, which has historically hovered around two or three, shot up to more than six in 2009 and 2010, the result of doubling-up and moving in with relatives.
Common wisdom is that eventually the housing market will stabilize.....
(Excerpt) Read more at slate.com ...
I use that one on my father in law when he starts whining about 'overpopulation'. Then I ask him who he wants to kill first. That one shuts him up every time.
I admire your work of course, but ya gotta see this:
http://www.freerepublic.com/focus/backroom/2327411/posts?page=43#43
Yes, darling Civ. I’ve seen that many times. I don’t know why hiredhand doesn’t post it anymore on the ZOT threads, but I’ve always liked and admired the montage. I’ve saved a copy of it and will post it when there’s a zot.
Sadly, I doubt that anything can or will be done. We have democrats who (very loudly) are incapable of speaking truth.
If there was a line on the outcome, I'd bet that there will be a cut or sunset on SS in the next few years and people under a certain age ...maybe 50, will have to fend for themselves.
The disgusting thing I see is that the benefits will keep on coming for the scoundrels who have caused the mess. The really disgusting thing is that their causation was not the product of ineptness or incompetence, but corruption and illegality. Yet, they are held in high esteem by the public.
Yup. We will have the Scandinavian lifestyle foisted upon us.
Every European city is littered with those sprit crushing commie blocs.
Every European city is littered with those sprit crushing commie blocs.
Thank you so much for those links. My city does belong to the ICLEI and I am hopping mad. I am letting everyone know....
They should be confronted in public and asked to explain why they are paying your taxes to support a foreign organizaation.
ICLEI is a UN accredited Non Governmental Organization (NGO) that implements the Action Plan of Agenda 21. In fact, on their own website (under the “Programs” section), they state, “Our campaigns, programs, and projects promote Local Agenda 21 as a participatory, long-term, strategic planning process that addresses local sustainability while protecting global common goods.”
* Cities pay dues in order to obtain direction from ICLEI in establishing local policy and law. This is a violation of the Constitution, Article 1, Section 10: “No State shall enter into any Treaty, Alliance or Confederation…”
* ICLEI is funded by the David Rockefeller Fund, United States EPA, etc.ICLEI targets mayors- in the ‘“Cool Mayor’ program, and other local officials to implement Agenda 21.
* ICLEI provides toolkits for action on local, state and national levels. Their objectives are dressed up in soft language, so as not to alert people to the true intention.
* ICLEI was founded in 1990 as the ‘International Council for Local Environmental Initiatives’. The Council was established when more than 200 local governments from 43 countries convened at our inaugural conference, the World Congress of Local Governments for a Sustainable Future, at the United Nations in New York.
CLEI, when implemented, creates new local laws and city planning requirements that restrict economic development and personal freedom. Some examples include:
* Crowding and highrise, high density housing scams
* Water usage restrictions wherein violations could result in fines, and there are programs for people to rat on their neighbors
* Monitoring business and individuals’ energy usage. Many new buildings have thermostats that are controlled remotely, offsite.
OH! I hope you don’t mind my posting your graphics. I’ve always liked them, so I have a copy of the post.
Yes, please do come around when you have a moment to spare.
I don’t mind. :-) I’m usually IATZ lately. :-)... so go for it! :-)
:’)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.