I apologize for the cheering crowd at Knox College in Illinois. Seems the mass exodus from Illinois (Ala Detroit) left behind the economically challenged, and liberally indoctrinated; although a group of them did end up in the White House.
If Joe Six Pack isn’t applying for mortgages and major investors end their purchases, we may reliable be able to predict how the market will snap back down.
$17 trillion debt, annual deficits, higher taxes, Obamacare, Dodd-Frank, Green Economy, TARP, HAMP, HARP, Stimulus, QE, ZIRP, and the Consumer Financial Protection Bureau have fixed the economy and housing right?
Bloomberg Macro indicators have fallen to seven month lows as the S&P 500 sets record highs. That hasn’t happened since 2007. Macro declines, market goes up. Must be a coincidence it mirrors 2007 trend lines.
One would think inventory would be tight because homes should be selling as fast as they come to market. Not this time, because it’s different. You have to have a job to qualify for a home loan regardless the interest rate.
Housing on the surface continues to look good, however when you peel back the layers of that onion it appears to be growing only due to bubble inducing Fed policies.
It takes time to find things to tax to fund all things progressive. Two months to be exact.
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