Whats the economy like in your area?

Crazymank

MuscleChemistry Registered Member
My state sucks. We're going into governement shutdown, the jobs that are left suck, my house is worth less than i paid for it 10 years ago...

Daniel Howes: A state in the state of denial

With Michigan careening toward an official governmental shutdown, a fitting capstone to its dysfunction and denial, a few questions beg to be asked of Lansing -- even if the governor and the Legislature aren't likely to answer them.
Virtually no sentient being who's paying attention to the circus in the state capitol believes we'll get out of this $1.75 billion hole without a tax increase. But why should taxpayers give you more dough if you've repeatedly proven to be poor stewards of the money and incapable of agreeing how to spend it?
Second, home prices are in free fall across the state, especially in southeast Michigan. In Oakland County, they're down 13.72 percent since 2004. In Macomb, 12.01 percent. And in Wayne County, a whopping 35.63 percent -- meaning that, soon enough, assessments will slip, too.
Because assessments and the taxes they deliver generally trail the market by two years or so, what will you do when property tax revenues pegged to lower assessments come in even lighter than they are now? Ask for more taxes?
This is just one of Michigan's time bombs. If things are bad now, wait until real estate tremors subside, buyout money for auto workers evaporates and the trend in public employee benefits -- namely, gilded pension and retiree health care payouts on a declining revenue base -- keep rising.
Were any of you, Republican or Democrat, planning to clue folks into this harsh reality? Or were you just content to let it be someone else's problem as you sashayed off to a new gig?
Third, what happened to all the reform that Gov. Jennifer Granholm bragged about in the ancient days of her last State-o'-the-State? Or to pledges by the GOP to take on the teachers unions, an apparently untouchable beneficiary of state largesse?
What happened to pooling the health care of teachers with health care of public employees, a potential savings of $200 million annually? Out. Pension reform? Out. Consolidation of municipal services? Mostly out, unless driven at the local level.
Exactly what specific reforms would the governor, her Democrats and the GOP embrace, in clear terms, in exchange for the tax increase both parties now agree is inevitable?
A rework of employee benefits couldn't deliver enough savings to avert a shutdown, nor is there enough time. But legislation beginning the process would show the Dems are doing more than mouthing the word "reform" and calling it a day.
 
right now I think it's bad everywhere but I read an article the other day that said the housing market was going to start climbing next year and then by 2010 things would be looking really good in terms of real estate. If I could afford it I'd wait for the market to hit low and then buy some property or a house to rent out and hold onto it for a few years as an investment... maybe by the time things start to swing around I'll have a little extra cash :)
 
things are average around here with housing going through the roof right now...but it's a relatively small community with a new medical school going in and not enough houses to house 4 complete classes. I got in on the first one and the houses were already through the roof, but I am hoping that I'll be able to resell it in a couple of years for a whole lot more than I paid for it. However, there are no jobs around here. I met a guy @ the gym the other day who got his degree in counseling, but becasue there were no jobs around here he signed on with the police force, even though he doesn't like it much at all. The only things are here for jobs are the Coke plant and Coal Mining.
 
N. California - It's fair in some areas and terrible in others. Housing market is in the shitter right now. Houses are worth several hundred thousand less than just a year or two ago. We are talking like a 600k house bought 2 years ago is now worth 350-400k. Job market is fair (just barely though). Salaries are above average around my parts however even with a good paying job it's impossible to afford to buy a decent house unless your family is bringing in 150-200k a year minimum. Renting is more economically feasable for most people these days. Forclosures are at an all time high. Bankruptcy isn't an option for most because of the increased rules and requirements that were passed a couple of years ago. Everything keeps getting more expensive at a rate that out paces yearly raises 5 fold. So I guess you could sum it all up as things are really shitty right now. lol. It's similar across the country but California is especially bad due to the ultra inflated house prices from the dot com boom and soon after melt down. Silicon valley is to California as Chernobyl was to the Ukraine in terms of damage. It was good when it was working but when it blew up it destroyed everything around it.
 
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I'm in san francisco - work construction - we are swamped - all you see on the
skyline is cranes (for the new highrises) the majority are condos or hotels. In the
city $$ on houses has come down some but not as bad as other parts of the bay
area. EX: the houses that were around 800,000 6months ago are now around
high 6 or low 700,000. I talking 2-3 bedroom 1-2bath houses.
 
IP, Vert, and myself live on Long Island and everything is insanely expensive. To buy a modest ranch house is around $400,000.00, an acre on just land in the hamptons goes for like $1,000,000.00. It's ridiculious!!!
 
My tent in the hill increased in value since it was stolen......Seriously along with my horse Im good.
 
North Florida.... economy is all out of whack. Homes that sold for 130k are selling for 220k and new home sales are the lowest they have been in 30 years, so low the misses lost her job last week, 7 years with one of our city's premier luxury home builder and bye bye friday evening, "we cant afford to pay you anymore is what they told 11 out of the 45 inner office employees". Gas is still high 2.78/gallon and we just got a vote passed to raise our taxes for sewage and water SUPRISE with all the rain we have had the past week much of the city is under water, we live at exactly sea level, theres no where for the water to drain when it rains 3" an hour. Life is just really tough right now in these neck of the woods!
 
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