The early eighties were terrible for my effort to start a small business with a friend. We were in construction, and we had customers liking our bids, but interest rates were beyond their finances. Business dried up, and I had to go back to working for larger construction companies taking advantage of the grants for municipal projects.
This report indicates it's deja vu all over again. While it pinpoints the problem of affordable homes disappearing, those that build these homes will find business terrible, as well as the suppliers. The economy will shrink to a level that can sustain what people can afford, and it won't be what is now considered the median cost of a new home. To make things worse, appraised value of land is unreasonably high, and getting taxing entities to lower their appraisals is just about impossible, without stern persuasion.
So, here we are again. A Democrat President, with a Democrat House of Representatives are causing havoc, and will probably remain unaccountable. Personally, I think some should be prosecuted for sedition, and if convicted, punished with the longest sentence allowed by law....and a few years longer.
As for the Republican "leaders" that have the backbones of jellyfish, there should be a harsh response, and they should be removed from office. They've played T-ball for years, while the Democrats played hardball, which led to this fiasco of public policy. They're just as culpable in the destruction of the economy, and the media is just as guilty.
It's not T-ball vs. hardball, they are all on the same team playing the same game.
ReplyDeleteYou're right, and we're always the losers.
DeleteBut in all honesty, aren't you at all bothered by the lies Trump told us? I mean what he was trying to do was ILLEGAL! His own people (Republicans) are telling us this! Judge Lettig. How can we ignore this?
ReplyDeleteI agree - the people are always the losers. Doesn't matter who the majority party is. We lose. All politicians win - they have great salaries, great benefits (lifetime benefits, to boot!). And many of them do absolutely NOTHING for the people they serve.
I wasn't bothered by Trump. I was bothered by the effort to destroy his presidency with conjecture, outright created stories about his involvement with Russia, the collusion of members of national law enforcement agencies in the effort, and outright lies created by the media. With the addition of corruption in election integrity, thinking Trump was the problem worked on those unwilling to believe the deep state is involved with sedition.
DeleteThis is far worse. We had monetary room to move then. Now? If we raise rates we're screwed because the amount of interest we need to pay requires us to print more cash. If we don't, we just print more cash. Forever.
ReplyDeleteHome buying has always been demanded, but in the past, homes were smaller, families accepted more than one child may be required for each bedroom, and costs were controlled by actual earnings, instead of credit. That's what I see in the near future, and U.S. society will adapt to the change.
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