This segment on the Daily Show was very disturbing. Normally I find Jon Stewart a laugh fest. But the fact that one Senator could block unemployment insurance extension during the worst recession since the Great Depression is NOT funny.
Clients ask me where the Westchester real estate market is going. I have to be honest with people. I have definite thoughts about how interest rates and expiring tax credits are going to impact the market – but another wild card remains – unemployment along with under-employment.
My own former career fell victim to outsourcing combined with an influx of H1-B employees from abroad. With absolute stunning speed, I watched as prospects for employment at a livable salary evaporated into smoke. This happened several years ago and the only reason this is relevant to the discussion is that my story is not unique. Earning capacity has gone down -even for those who are fortunate enough to be employed. Housing can’t completely recover until the employment issues and stagnating pay are addressed. These are issues that are bigger than the real estate market but the point is that the housing crisis does not exist in a vacuum.
| The Daily Show With Jon Stewart | Mon – Thurs 11p / 10c | |||
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© 2010 Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.
