Housing is now in below Depression erra levels

Discussion in 'Economics' started by EMRGLOBAL, Jan 11, 2011.

  1. If you take out the mortgage interest tax deduction and the QE then house prices will be 1/10th of what it is now

    And yes I am in the market for a house :)
     
    #21     Jan 12, 2011
  2. clacy

    clacy

    Yes, as a minority partner in a family business (restaurants), I can say that Obamacare in it's current form will decimate the retail/service/hospitality sectors. Absolutely destroy it. I'm taking 20% of these businesses will close within 2 years, if this legislation stands.

    Ultimately the companies in these industries that are in a very sound financial position will with stand the brunt and be able to upgrade their employee base, as they will be flooded with college grads to wanting to work in such positions as cashier, host, cook, stocker, doorman, waiter, etc due to very high unemployment.

    The funny thing about Obamacare, is that the age demo that supported Obama the most in 08 (young people) won't realize that this legislation helped seal their fate (high taxes and high unemployment) until it's too late and their financial lives are on life support.
     
    #22     Jan 12, 2011
  3. Couldn't agree more, as if the last decade of volatile commodity prices weren't enough of a headache for the restaurant industry, this will be the straw that breaks the camels back.
     
    #23     Jan 12, 2011
  4. Ed Breen

    Ed Breen

    Clacy, your post above was so true I wanted to put a flame thower to all the other tripe I see in these posts. You go it right on the nut. This whole poilitical confusion will turn our whole crop of private school college graduates into sou chefs.

    I don't mean to disparage Sou Chefs as I mean to disparage common undergradutae degrees. ...they paid $120,000 for what?
     
    #24     Jan 12, 2011
  5. $120,000 maybe 8-10 years ago. Check out the tuition costs, room and board, books and misc living expenses nowadays at these out of control schools. Many, many private colleges and universities are in the $50k per year range x 4.
     
    #25     Jan 12, 2011