WHY IS THE PRIVATE SECTOR NOT CREATING JOBS? Could it be they will NOT help the Obama administration, in hopes of getting another "fast and loose" adminsitration in 2012? Walt
--- In Politics_CurrentEvents_Group@yahoogroups.com, Bruce Majors <majors.bruce@...> wrote:
>
> WASHINGTON - The Washington area was the best-performing housing market in
> October, but generally only in more affluent parts of town.
> "Housing prices are rising where the lawyers live, where the high-priced
> bureaucrats live and where Muffy and Buffy who are coming down from Harvard
> to regulate our lives are going to live," University of Maryland Economist
> Peter Morici told 630 WMAL.
> The average price of a home in the Washington area in October rose 3.7
> percent from the year before, according to the latest unadjusted data from
> the Standard & Poor's/Case Shiller 20-City Home Price Index. Nationally,
> prices fell 0.8 percent.
> "Housing prices follow jobs. Barack Obama is building up the government and
> sabotaging the private sector. Houses are going up in Washington, down
> everywhere else," said Morici.
> There is wide disagreement among economists on the future of housing in the
> United States. Some economists say housing prices must fall at least another
> 20 percent. Others says it will be less than that, some say it will be more
> and some say housing prices have bottomed.
> This year is on track to finish as the worst for home sales in more than a
> decade. High unemployment and tight credit have kept people from buying
> homes, despite some of the lowest mortgage rates in decades.
> "The private sector simply is not creating jobs. Folks don't have money to
> pay for houses. Are we surprised housing prices are tanking outside of
> Washington? Not at all," said Morici.
> http://homesdc.blogspot.com/2011/01/different-kind-of-bubble.html
>
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