and a ROARING economy... The only thing I think would stop it is significant inflation. The currency would have to devalue because the jobs just aren't coming back.
Housing is in a boom in my area. Only 25 new foreclosures in my county last week. That’s down from 26 the week before. Happy days are here again!
The unemployment numbers are so thoroughly fake I don’t know if anyone can tell us the real numbers.
But it isn’t 6.7%. It isn’t anywhere near single digits.
Housing starts have doubled since 2011...
and a ROARING economy...5.56mm
We should have a lot of good things in the economy with a 6.7% unemployment rate. And we probably would, if we actually had a true 6.7% rate.
Of course, we do not. The unemployment rate, like most everything in the Obama recovery, is smoke and mirrors and not the true picture of the economic mess we’re really in.
I hope I am wrong, but I cannot shake the feeling that we are going to have a “lost decade”, ala Japan. None of the traditional indicators of real economic recovery are there. And if the Fed ever turns off the QE tap...
The true unemployment rate is some 36% and rising. Just because some people are not looking anymore or have settled down to live off the dole dousent mean they aren’t unemployed. Business is chasing profits by cutting costs and downsizing. This is not time to tie yourself into a mortgage and risk a down payment.
They only count people looking for work. Pretty stupid, huh??
We are having a huge housing boom, if by boom you mean vacant houses that the unemployed former owners had to leave.
There’s a boom in rentals and vacant houses scooped up by professional landlords. The houses that aren’t used will rot, before they’re sold for low prices. Property taxes will continue to be propped up by many in the political regulator regime.
!
Smoke and Mirrors, that is all this dictatorship has leading the low brows over the cliff. It will never end until these commies are run out of town.
Fixed it.
Example, I have an escrow with a home on commercial zoned property. The buyer is solid, 20% down on a conventional loan. The underwriters for the bank are putting a hold on the loan for the manager of the underwriters to review. It has been a week as we scramble to find comparisons and they are strict on what they want. I fear they will turn down the loan due to the "house", not the buyer.
6.7% is a lie through and through. Double that, at least.