Did you notice, the only place housing prices have risen? Washington, D.C.
I was doing salary survey work last night. For just about every job description I searched the local, state and federal employees are paid more than their private sector competitors. More pay and 71% of public sector employees have defined retirement benefits compared with only 21% of those in the private sector. They also have / had better prospects of continued employment.
Over a year ago a study was released that showed the average government worker is paid over $75,000 a year compared to $55,000 in the private sector. More pay and better benefits financed by people who pay them can’t go on.
No depression in Washington, D.C.
The irony is that even the military could cut thousands of lawyers and bureaucrats...the Government produces nothing and gets paid for it handsomely.
Privatize everything. The market works when Trumka and his ilk are starved.