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2 Comments

1. 1) After just 8 years of the Big Bailout, we are $10 TRILLION deeper in federal debt. $6 Trillion of that is owed to foreigners, on top of the $2 Trillion we owed previously.
   2) That huge debt was incurred because of the Great Recession caused by the irresponsibility — fraud in my opinion — of Goldman Sachs and other Wall Street firms.
   2) If they don’t pay for the Big Bailout debt then who will? The common worker? Don’t know if anyone has checked recently but people who actually work for a living get a very small fraction of the national income nowdays. Those who run con games of various kinds –or serve as prostitutes in Washington protecting the con artists — get the Big Money.

2. Few things for which I maybe qualified to discuss, but the housing market, including the level of vacant properties is on place that I can opine upon – the residential housing market has improved dramatically – the number of vacant properties has improved by 50% since last year. The lack of housing inventory (new and resales) are at 40 year historical lows in the aggregate. The cost of new homes continues to be at historical highs, especially in locals with constraints on land and labor. We are fast approaching headwinds to further price appreciation when you consider the signals from the Fed. Unless you are compelled otherwise, time to be on the sidelines and not get sucked into these price levels – stay put, renovate what you own at these rates, and look for good land values – as Will Rogers once said, they ain’t making it anymore, so land can be a good value over time. New replacement costs are much higher than resale inventories. Look for other asset classes at this time – residential may rise over the next 2 years, but the headwinds will prevail.

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