The libs are in denial. If you live in Michigan, NY, or Ohio, then yes, things look pretty bleak and you can’t believe the numbers. But the rest of us are doing pretty well. Even here in Florida, where we’re reminded daily that we have the second worst foreclosure problem in the nation (behind CA), the economy is doing OK. It’s just certain sectors, where people made bad choices, that are hurting.
Exactly right. The forclosure numbers are up in some formerly “hot” markets. I’m here in WPB, FL and the For Sale signs on homes are like campaign signs on a monday before election day. Most are on homes that were purchased at the peak and not on those of us who bought 5 or more years ago.
Actually per capita, Nevada, Georgia and Michigan rank the states with most or highest number of foreclosures.
For the average worker, the increase in medical insurance and gasoline prices, by themselves, more than wipes out any wage increase. That's why most people don't think the economy is doing as great as those who watch the stock market or corporate profits to determine how well they think the economy is doing. Workers are offsetting this reduction in real income with huge increases in debt, especially credit card debt. The only way this can be sustained is for inflation to increase enough to force wage increases that will allow previous debt to be paid off with devalued dollars. Of course, this cannot be sustained forever and the sine wave will not be denied.
You can add SW VA to that list.