<img SRC=http://research.stlouisfed.org/fred2/data/U6RATE_Max_630_378.png> Gonna take some time to work off the excess or hope/pray for another bubble. <img SRC=http://research.stlouisfed.org/fred2/data/EMRATIO_Max_630_378.png> 80's housing bubble, late 90's bubble, mid 2000 housing bubble, full retracement back to 56-57% -- easy money/credit can do wonders
NOT adjusted for inflation. 25 years ago, the cost of hiring a lawyer was 4x my salary. Now it's 8x. I have to work 8 days to pay for 1 day of legal work.
hire an unemployed lawyer. oh wait like half the other unemployed I know, he or she is probably happy working out everyday going to the beach... getting 2000 a month and food stamps. I seeing well dressed people with nice cars in expensive neighborhoods using food stamps. millions of americans are working the system and it seems we have a whole political party dedicated to helping them do it. Its a kelptocracy on two ends destroying the savings and value of the people in the middle who work.
The second graph you posted is quite interesting. It seems to show that the latest recession is over and that the job market are ready to spike. BUT strangely enough, for the 1st time, there is no V turn. Perhaps you will need to expand the last grey area...or maybe job market will rise abrubtly (don't ask me how in these circumstances).
Yes, the pattern would seem to call for a spike UP. But these are extraordinary conditions, so forget past patterns. We're likely to just keep going down albeit at a slower pace. Population is going up, jobs are not.