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 Home Sales Hit the SkidsPosted on Aug 24, 2010
More evidence that the economy is still very shaky came Tuesday in the form of news about a startling dip in sales of existing single-family homes during July, which marked the lowest point in that market in 15 years.
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By Jim Yell, August 25, 2010 at 8:32 am Link to this comment
(Unregistered commenter)
Let’s see, homes were built over sized because the Banks told everyone they could have a loan to buy them. Homes were built over large in many places because requiring your home to be built over sized would keep out the lower classes. What that did was put a lot of retired couples in 4 bedroom houses the size of barns. Zoning should be to keep industry out of residential areas and instead has been used to segregate the population. Zoning has been used by realestate agents and banks to control developement in even rural areas. I know of one case where a man who owned acres of land that he lived on out in the country and he put a double wide on a permanent foundation and then spent the next years losing a lawsuit brought against him, because his large property was not zoned for pre-built affordable housing. I might add all of his neighbors and property owners who lived in the area thought he had the nicest home in that area.
While the consumer may have used poor judgement in many areas, they have been manipulated by the corporations and banks that brought on this house of cards, this prosperity built upon un supportable debt and then topped it all off by depressing wages and destroying jobs. The entire super rich should be put on notice, they are blood sucking thieves and they didn’t earn their money they stole it.
Report thisBy ofersince72, August 24, 2010 at 10:45 pm Link to this comment
Oh crystal ball, what does thou see next? ?
Report thisBy Obbop, August 24, 2010 at 7:39 pm Link to this comment
(Unregistered commenter)
“There’s class warfare, all right, Mr. (Warren) Buffett said, but it’s my class, the rich class, that’s making war, and we’re winning.”
Report thisBy rollzone, August 24, 2010 at 6:48 pm Link to this comment
hello. the notion that people will take any job just
Report thisto pay their bills was a wrongful assumption. there
are some people that need to work outdoors, there are
some people that need an office environment. not
everybody is willing to transform themselves into the
corporate desired roles, which is why there are so
few Information Technologists, Computer Software
Specialists, Robotics Technicians: people are not
lining up for jobs or training in growth industries
because they would rather die than work there. a
rapid transition from blue collar work only
permanently establishes a new constant level of
unemployment, which demolishes existing housing data,
as the playing field is changing. chasing more and
more blue collar jobs out of our country has been
wrong policy. you can not force careers on people,
and people without a career do not buy a house.
By eir, August 24, 2010 at 4:20 pm Link to this comment
Don’t we remember? We went for Colonialism Part II aka NAFTA. Tell the blue collar chumps that things will be great, they’ll all become computer programmers, or something like that. White collar types? Nothing can touch them, they’ve got a college degree. They’re with it. They’re already part of the New Economy. Tell them they’re the real winners.
Meanwhile…..the Casino was booming. Bubble Economy baby, built on nothing but “consumer” debt and shell games. That blew up, but was palmed off on the usual suckers, the blue collars who knew they were screwed and the white collars who didn’t want to believe it.
No jobs? No mortgages. That jigs up.
Now, the Cat Food Commission is figuring out how to tell the population that they’re not going to get their Social Security. Even though Social Security is solvent.
There will be no happiness for the population while the pigs still own and control everything. Your happiness means that they are not squeezing every last drop of blood from you, and we all know that that’s just not right.
Hyper-inflation awaits. Brought to you by the banks aka The Fed who has always served the interests of the banks, oops, I mean the people.
Report thisBy India DeClair, August 24, 2010 at 1:40 pm Link to this comment
(Unregistered commenter)
This modern day recession (depression for many) is showing in undeniable ways to be a complete paradigm shift in the American way of life.
Whatever illusions of comfort one might have had in the past . . . the brutal reality of bone chilling uncertainty re: housing and employment is the REAL RAW RIGHT NOW . . .
PERIOD.
Thank you Mr. Scheer.
India DeClair
THE INDIA DECLAIR SHOW . . .
Report thisREAL. RAW. RIGHT NOW . . .
DECLAIR IT!!!