Building industry is still in a Serious Depression.

[Neubarth]

NEW HOUSING STARTS
Economic Calendar: Financial Calendars - Yahoo! Finance

APR 2010 672 K
MAR 2010 635 K

Compare the numbers to three years ago.

APR 2007 1506K
MAR 2007 1518K
FEB 2007 1525K


BUILDING PERMITS

APR 2010 606 K
MAR 2010 685K

Compare the last two months to 2006 to get a feel for how bad it is.

APR 2006 1984 K
MAR 2006 2059 K


There are total idiots on this board who mock the unemployed daily in their posts. They pretend that it is funny that they are out of work and can not find a single job anywhere. They refer to GDP and claim that we are out of this horrific Depression. The anger welling up in the public is getting oppressive and it will burst soon. I have no patience with the total buffoons who mock their plight. We are in a serious Depression and we do not seem to be making headway in the construction world.

As I have proposed thousands of times, we need to make jobs that will benefit the country as a whole. Taking the watershed from Minnesota and the Dakotas and rerouting it to the west to put more land under cultivation would be a fantastic solution, and it would put ten million to work, yet Obama refuses to ask for such a project. He is the greatest asshole we have ever had in the presidency.

 

[uscitizen]

NOt a depression, the housing prices are still in the process of adjusting to reality.

 

[Neubarth]

NOt a depression, the housing prices are still in the process of adjusting to reality.

Since we need a practical definition of terms, I say up to ten percent unemployment is a Recession. Anything over ten percent like we have now should be called a Depression.

When it gets over twenty percent as it appears to be, it should be called a HORRIFIC DEPRESSION.

 

[editec]

We flooded the economny with ersatz money.

The market woke up from its reverie and loe and behold everything (stocks bonds, real estate) is priced too high.

The problem is that the people on the hook for the debt aren't the people who were making all the money during the bubbles that had been happening.

The problem is that now people have their debts structured based on the previously overvalued prices, but their incomes are actually DECLINING.

Obama has damned all to do with that, and there's damned little he can do to solve such a SYSTEMIC problem in the economy, either.

And no Republican in office can fix it, either.

Not at least without them biting the hands that feed both parties, and only a damned fool thinks those people are going to mess up the sweet con game that's been sustaining them so very well for so many decades.

We're fucked because we're god damned fools, folks.

The masters played on our conceits and on our fears and on our greed and now reality is that they've obsconded with the wealth and left us with the debt.

 

[industry7]

We built a record number of houses based on an overly-inflated housing market that was being fueled by greedy lenders utilizing predatory lending techniques...

And you're surprised they haven't recovered yet?