I read quite a bit of different news articles from various sources all week long. I start out with three newspapers every morning. Then, once a week, I read 10-20 different magazines at the local book store that cover a wide range of topics. All this helps keep me current and able to comment with people on different subjects and also keeps me on the sharp edge of my profession and hobbies and things of interest.....
Some things for your consideration.......
1. Unemployment continues to plague us all both locally and nationally. This directly affects the buying power of the first time buyer public. Even people with jobs are not sure they will have them if things don't stabilize soon. People won't spend $$$ if they are scared, unsure or...?
2. Retail is sluggish and and has a long way to travel. Gone are Mervyns, Circuit City and other Big Box clients that can anchor a huge center....Look for smaller outlets like, fast foods, beauty salons and convenience outlets. Not good for the landlord, but better than a vacancy.......
3. Strategic defaults are the new problem to replace loan modifications. Unless Real Estate stabilizes, more and more people find it making sense (right or wrong) to let their place GO and buy the place next door for 1/2 of what they owe now. How can you beat that? Leave ethics and morals out of it. This math makes sense......
4. United States Post Office is raising rates again. But that is not the story. The real story is that they have been and continue to be operating in the red and the future of it is highly questionable? Snail mail doesn't cut it......
5. They are coming out with a new DATA bar that replaces the UPC bar now found on most items that you purchase. The new bar tracks more data effectively and efficiently which can mean savings for the consumer.
6. Home sales that traditionally are brisk this time of year are not keeping pace with last year or the year before. Interest rates are the lowest they have been for almost 40 years which will not help if unemployment isn't fixed...People still need a place to live.
7. Millions of people continue to be in foreclosure. The good news is that the banks traditional response of THROW THEM OUT is waining and less notices of default are being sent out. Whether this is temporary or the start of some new program to be introduced...who can say. One thing is for sure. What the lenders are doing now...just isn't working.
8. Rental market is in a big shift. Nearly everyone applying has ruined credit. Families are moving in together. People with pets cannot find a place and they cant let the pets go either. Unemployment, disability, social security are the new sources of income. People who are employed owe money and are one step ahead of collectors making them BANKRUPTCY ATTRACTIVE. No guarantee that the second month will be paid even if the first and deposit went well.
9. All city folks better get used to hearing chickens, roosters and seeing rabbits and goats being raised in their neighbors yards. Fresh eggs and meat.......that can be beat.
10. Petty crime is up in different categories. let's not forget that it can go from misdemeanor to felony in an eye-blink. People have given up, are desperate and are into mischief of all sorts. Don't become paranoid about this, but instead be aware of what is going on around you at all times.
11. Department of Real Estate (DRE) is so backlogged that it is taking up to 5 years to prosecute someone. It is taking 1 year just to investigate. That is why they like to cut deals rather than go all the way on a violation. They do not have the staff or the budget to run efficiently.
12. Cities who were caught short by the recession are now using their reserves. It wasn't too long ago that some cities used to boast of having reserves and did not use them. Not able to borrow, the question begs to be answered....what happens when reserves are gone? Layoffs and cutbacks and yes...fireman and policeman too.
13. How are the newspapers making it? You can read almost anything online now a days.....What is their future in regards to what they offer you? You think about it..........
14. Now, I am not dooms day-er type person, but your enemies usually hit you when you are down, distracted or in a state of transition. Now, more than ever, our ability to strike back, quick and hard must not be compromised. That's why military spending will continue to dominate many parts of our budget.
15. Illegal aliens....had a good run in this country for years and years...Now that we are suffering for jobs and medical treatment, food stamps and welfare, they are not to be tolerated. One by one, cities are requiring that all businesses hire people only with valid social security numbers..
16. Now that people have been foreclosed on, their credit destroyed for up to 10 years, how will they be able to rejoin society as good tax paying citizens? Nearly 2/3 of the people living in the United States now have some sort of record. What happens when everyone is black-balled, black-listed and doesn't qualify for anything? Sounds like our own systems are shooting us in the foot or cutting our own noses to spite our faces.....WHOA
MORE WHEN I GET IT.................
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