Posted on 05/19/2009 6:00:41 AM PDT by pleikumud
But, but, but - the recession is over! Obama has solved all problems, and The New Age is upon us! The stock market is going up again! It's End of the Business Cycle! We can start back on our national credit binge!
Disclosure: Long on Karl Denninger, short on Obama's Unicorn Party and the skittles that it produces...
Housing starts and permits are both at RECORD lows. The point of recognition that any recovery will be “L” shaped hasn’t been reached yet.
How can this be? My local newspaper tells me every day about “positive signs” for an “improved economy.”
As liberals so like to say: “WTF?”
Michigan has a collapsed auto industry and an entrenched lunatic Socialist government. What's Oregon's excuse? I would presume also an entrenched lunatic Socialist government?
The Obama “RECOVERY” is well underway.
That's right. In my area one housing development has been struggling-lot's of empty new homes/prices slashed. 3 miles away a new development opened last summer with 3-5 acre mini farms. All 16 lot's are sold except 2(crappy lot's left) and 7-8 homes are built or are being started.
Jennifer "Jenny Grabtax" Granholm is a LOT smarter than that stupid inbred trailer-trash cow, Sarah Palin.
I'll bet Granholm could have Alaska back to the Neolithic Period in three months if they turned her loose up there. ;-)
Disclosure: The city manager of my population 3,000 town makes more than Palin, TSITTC©
Just as someone was saying on another thread. Since housing sales were up, I guess the analysts figured housing starts would go up. But the housing sales that are being made are foreclosed properties that are selling at bargain basement prices. And those cheap prices aren’t going away anytime soon, there’s a glut of foreclosures that haven’t even hit the market yet.
I don’t even recognize NC anymore. It’s finished. I think we’re going to have to move north and take over a state like PA since so many of them and Jerseyites and New Yohkas have moved in down here. Not to mention the Hispanics.
Diversity is our strength, remember?
Yes, we are. I forgot the Pakistanis and Indians, and Native Americans as well.
A Wall Street Journal Study of 940 Lenders Shows Potential for Deep Hit on Commercial Real Estate. Please consider Local Banks Face Big Losses.
Commercial real-estate loans could generate losses of $100 billion by the end of next year at more than 900 small and midsize U.S. banks if the economy's woes deepen, according to an analysis by The Wall Street Journal.
Such loans, which fund the construction of shopping malls, office buildings, apartment complexes and hotels, could account for nearly half the losses at the banks analyzed by the Journal, consuming capital that is an essential cushion against bad loans.
[snip]
It’s a lot worse than the morons in the media would have you believe.
Amen - and yet my property taxes went up 10% "because land values have gone up". The local developer is giving buyers an extra 1/4 acre behind the house to make sales. So far they've sold one.
Must be an East Coaster. He was thinking of that Oregon was still a territory.
And if they’re not stalled they’re slow rolling. My organization is trying to build a hospital. They now say they’re going to complete the outside and not build out the inside, but I don’t see anything changing as I drive past every day.
Yes, comrade, you are undoubtedly correct, but what a brilliant idea. Control construction by controlling the issuance of permits to ensure that the proper kind and quantity of buildings are developed to enhance the glory of our dear leader's regime and our workers paradice on earth. You must mention to the block captain.
These major demographic changes have political consequences. 87% of the 1.2 million LEGAL immigrants who enter this country annually are minorities. Immigrants and minorties vote the majority for Dems. States like Colorado, Nevada, New Mexico, and now VA and NC are turning from red to purple to eventually blue. And the Reps response is to call for major outreach to minorities rather than focusing on reducing the amount of legal immigration into this country. They are committing political suicide. An amnesty will just finish off the GOP and the country quicker, but the result will be same even without an amnesty.
And local communities don't already do something similar with zoning and building codes?
See my post #58.
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