housing recovery: There Will Be Fewer Buyers from the Boomer Generation
- 03/21/09 09:34 AM
Many Baby Boomers will not be buying another home anytime soon according to the Center for Economic Policy and Research report “The Wealth of the Baby Boom Cohorts after the Collapse of the Housing Bubble” dated February 2009 and written by David Rosnick and Dean Baker. For precision, the Boomer generation was divided into Late Boomers between the ages of 45 to 54 and Early Boomers between the ages of 55 and 64 (the findings of the report exclude any benefits from defined benefit pensions). The findings of the report indicated: Late Boomers Median household wealth fell by more than 45 … (22 comments)
housing recovery: 2.5 million Jobs lost in 2008 & a 2.5 million Loss of Jobs forecast for 2009
- 01/26/09 04:48 PM
At the United States Conference of Mayors in January of 2009 it was reported that our labor market is in a severe decline. It was explained that December 2008 was the 12th consecutive month of job losses, and that the cumulative loss for the year was more the 2.5 million. It was also forecast that this only marks the halfway point. It is anticipated that another 2.5 million jobs will be lost in 2009 which includes a first quarter 2009 loss of 1.5 million jobs. To put it simply, the national housing market is going to get worse before it gets … (2 comments)
housing recovery: Treasury Dept Allocates 278 Billion - Where Did It Go?
- 01/04/09 09:35 AM
ProPublica, an independent non-profit newsroom that works in the public interest reports that 278 billion dollars were allocated to 282 banks. Their report is at the following website http://www.propublica.org/feature/bailout-bucks-to-banks-1028 ). However, we still don’t know how these funds are being used or if they are being used appropriately to restore liquidity to the financial markets and stem the tide of home foreclosures The Treasury Dept is using the US supervisory CAMELS ratings to help it decide which of the nation’s 8.500 banks will receive bank equity investments from the TARP funds authorized by the Emergency Economic Stabilization Act (EESA) and which … (0 comments)
Many Baby Boomers will not be buying another home anytime soon according to the Center for Economic Policy and Research report “The Wealth of the Baby Boom Cohorts after the Collapse of the Housing Bubble” dated February 2009 and written by David Rosnick and Dean Baker.
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