Economy and real estate

[Alastair]

Hi there,Economy has great influence on every field in the country,Real estate is a business which is also the victim of bad economy.What are the views here.

 

[expat_panama]

...Real estate is a business which is also the victim of bad economy...

Huh. A lot of people say the economy is the victim of bad real estate.

 

[editec]

The fact that the price of the median home price continued to rise for decades when the median family income was falling or stagnating (taking inflation into account) made a massive correction in the price of real estate inevitable.

I think when the median home price is no more than 2 times the median family income THEN the price of real estate will once again be aligned with the economy.

 

[Truthmatters]

It is just bizzare that soooooo many refused to understand that when the bubble was building.

Including the president at the time.

It was obvious to anyone with a brain housing was out of order with a normal economy.

 

[expat_panama]

...the price of the median home price continued to rise for decades when the median family income was falling...

--or so we've heard from our colleagues on the left. Census Br. and the BLS show real median household incomes rising steadily for decades with real home sq. ft. prices falling.

Ping me if anyone want's a link/table/graph.

 

[william the wie]

...the price of the median home price continued to rise for decades when the median family income was falling...

--or so we've heard from our colleagues on the left. Census Br. and the BLS show real median household incomes rising steadily for decades with real home sq. ft. prices falling.

Ping me if anyone want's a link/table/graph.

Off topic but how did this guy get banned so quick?

 

[waltky]

Well duh, not after the drag on the economy Obamacare is going to be...

Gallup: In No Month of Obama Presidency Has Majority Believed Economy Improving
Tuesday, July 05, 2011 - Barack Obama has now been president for more than 29 months, yet in none of those months has a majority of Americans believed the nation’s economy is getting better rather than worse, according to the Gallup poll.

In fact, in no month of Obama’s presidency has belief that the economy is getting better exceeded 41 percent among American adults, a peak it reached in April 2010 and again in January 2011. In the most recent three day-period reported by Gallup—July 1-July 3—only 31 percent of Americans said they believed the economy was getting better. Meanwhile, 63 percent said they believed it was getting worse.

Each day, Gallup asks approximately 500 American adults a simple question: Do they think that economic conditions in the country as a whole are getting better or getting worse? Gallup then regularly publishes the most recent three-day average percentage for each answer, while periodically publishing the monthly averages.

While 41 percent is the highest percentage of Americans who told Gallup they believed the economy was getting better during any month of the Obama presidency, there have been some three-day periods in which a somewhat higher percentage told Gallup they believed the economy was getting better.

However, since the three-day period ending on Oct. 15, 2009, according to day-by-day data released by Gallup, the percentage of Americans who said in any three-day period that they believed the economy was getting better peaked at 46 percent on Dec. 30, 2009-Jan. 3, 2010. The last time as many as 40 percent of Americans said they believed the economy was getting better was in the three-day period that ended on Feb. 16, 2011. In June, belief that the economy was getting better never rose higher than 34 percent in any three-day period.

Source

See also:

Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job
Tuesday, July 5, 2011 - The stimulus is now causing the economy to shed jobs.

When the Obama administration releases a report on the Friday before a long weekend, it’s clearly not trying to draw attention to the report’s contents. Sure enough, the “Seventh Quarterly Report” on the economic impact of the “stimulus,” released on Friday, July 1, provides further evidence that President Obama’s economic “stimulus” did very little, if anything, to stimulate the economy, and a whole lot to stimulate the debt.

The report was written by the White House’s Council of Economic Advisors, a group of three economists who were all handpicked by Obama, and it chronicles the alleged success of the “stimulus” in adding or saving jobs. The council reports that, using “mainstream estimates of economic multipliers for the effects of fiscal stimulus” (which it describes as a “natural way to estimate the effects of” the legislation), the “stimulus” has added or saved just under 2.4 million jobs — whether private or public — at a cost (to date) of $666 billion. That’s a cost to taxpayers of $278,000 per job.

In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the “stimulus,” and taxpayers would have come out $427 billion ahead.

Furthermore, the council reports that, as of two quarters ago, the “stimulus” had added or saved just under 2.7 million jobs — or 288,000 more than it has now. In other words, over the past six months, the economy would have added or saved more jobs without the “stimulus” than it has with it. In comparison to how things would otherwise have been, the “stimulus” has been working in reverse over the past six months, causing the economy to shed jobs.

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