One could say the same for housing values in my area. Houses today cost more here than the same house would have cost 25 years ago. The same is probably true of almost any area except some inner cities that have decayed over time.Real estate values around here have never gone down in the last 25 years.
HOWEVER ... prices here have decreased from what they were 4 years ago when they had reached an all-time high. As a Realtor® I can safely say those prices were inflated beyond their intrinsic value. They have now come down to somewhere near what seems "normal", but may have a little bit more to drop.
My perception of the "intrinsic" value is based on what the wages are for the area I live in. Because of lower prices, our area became a "bedroom community" for people working in NYC & No NJ where wages are higher. Those who are locally employed have been hit hard by the influx of commuters driving up prices. In upper-end price ranges I have seen homes losing 25% of their value of 4 years ago.
Since I purchased my home 20 years ago, it is worth more now than it was when I bought it ... but it is worth less than if I had sold it 4 years ago. It's market value is probably 10% to 15% less than it was 4 years ago.
"Know in your heart that all things are possible. We couldn't conceive of a miracle if none ever happened." -Libby Fudim
I don't use the PM feature, so just email me direct at the address shown above.
Oil related businesses have to recruit in other areas to find workers, same for medical. Less than 5% unemployment. Been this way since the early 90's.
Folks got a little nervious last year when the administration wasn't issuing drilling permits for the gulf. Now, the drilling permits are flowing out of DC.
Last edited by Franco; 09-06-2012 at 09:53 PM.
“Hitler did not have to destroy democracy; he merely took advantage of the decay of democracy and at the critical moment obtained the support of many to whom, though they detested Hitler, he yet seemed the only man strong enough to get things done.” F. A. Hayek from his book, "The Road To Serfdom".
"probably coincidence, but I can honestly say that I am better off now than 4 years ago." I just had bad luck during the Bush administration, and have had good luck during the Obama administration. I don't think it has anything to do with who was or is president, just timing of the way things played out.
Last edited by murral stark; 09-06-2012 at 09:57 PM.
If you can't handle the heat....
Can absolutely say that I am NOT better off than four years ago, but can't lay the blame directly at Obama's feet. Photography is a bit of a luxury item and when the economy is down, and especially when people have little hope, photography is not the first thing on most people's minds. Gasoline is also just eating me alive.
Any doctrine that weakens personal responsibility for judgment and for action helps create the attitudes that welcome and support the totalitarian state.
Associate yourself with men of good quality if you esteem your own reputation; for 'tis better to be alone than in bad company.
Gig'em Aggies!! BTCO'77HOO t.u.!!
I am the same as Murral. Four years a go I worked for a company for 19 years, came into work one day and was laid off. I just had eye surgery so my face was black and blue so I couldn't even go on job interviews. I also worked in a limited field so I completed a lot of job applications and was able to find a job at 50% of what I was making before.I'm happy for you. You are one of the lucky ones. 23.5 million unemployed Americans unfortunately can't say the same...
I worked hard for that. Cut corners, took the train to work,adding hours to my commute so I didn't have to use my car and pay for gas. I got raises and worked hard. I continued to network in my field and last year finally found a job doing what I was trained to do.
So yes there are many people who are better off now than four years ago but many people here don't want to listen to that.
This isn't directed towards you but there are a lot of people who are making a ton of money both Reps and Dems.The stock market is a house of cards and soon after the election the crooks on Wall St will be selling to reap their profits from the suckers. There is no way you can have a sound economy and 1% interest rates!
All success belongs to the dog, all failure to the trainer.
NO!! not better off
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