Job market #1, Housing market #2
By Daniel at 16 June, 2009, 7:38 pm
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There will be no meaningful improvement in the housing market without a meaningful improvement in the jobs market. The banks will not loan out money to anyone they see as a risk. Who can blame them since easy credit almost killed them? All that TARP money will not fix the housing market because the banks are acting more responsible when making loans, and who would want to return the reckless past anyways? Most of the people that would drive real demand in housing are either unemployed or have recently gone through bankruptcy and foreclosure; can not qualify for a loan. Where do you get the demand from when you kill the goose that laid the golden egg? Jobs will not return until we as a nation take steps to increase export and decrease imports. Do you see this in the cards anywhere? All this Federal deficit spending is going to be like a heavy lead weight around our necks going forward. The more the Federal government spends, the heavier the weight.
There is no recovery until America changes it’s view on letting million of good jobs go overseas and starts creating jobs right here in America instead. The focus by the people in DC seams to be only on the banks, this is not going to fix anything except some Gall Street bonuses, and looks like a kickback to the special interests that bribe elected officials. JOB! JOBS! JOBS! The only solution to this recession/depression is JOBS! There are million of empty houses around the county. We don’t need more housing. We need JOBS!
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