2009-07-25 — blogspot.com
These are the kind of factors that are not readily apparent when one looks at the headlines such as "Home Vacancies Hit 18.7 Million on Bank Seizures" and then sees a dip in vacancies.
The real story is things are much worse than they look in many ways, even if one could figure out how to subtract vacant "unlivable worthless" homes from the totals.
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Comments:
tvsterling at 21:47 2009-07-26 said:
The reason for all these empty houses runs deeper than just this so called recession. The average American has no business owning a home. Job security, such as the country offered decades ago, no longer exists. The whole economy is built on shifting sand. Thirty years is an eternity in the modern job market & anyone foolish enough to get caught unemployed during that period is dog meat. In order to recover from a layoff or downsize you have got to move NOW. If you are stuck with a house you are dog meat. Jobs that pay enough to make ownership really feasible are getting fewer & fewer with every offshore & every Illegal. The race for the bottom is going to make America into the newest third world country & there is nothing to stop it. We already have a banana republic economy, courtesy of the FED. Permalinkadd a comment | go to forum thread
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