The Economists Comments on the “Double Dip” Housing Bust
Echoing our post from yesterday, the Economist had some choice words for the first-time homebuyer credit:
WHEN Congress first opted to subsidise new home purchases with a tax credit worth around $8,000, the thinking seemed to be that a burst of selling could stablise housing markets while the economy bottomed and job growth returned, at which point markets would be fine on their own… But by the end of 2009, the effect of the credit became clear. Sales and prices zoomed up to a peak in the fall as buyers rushed to beat the deadline, then tumbled in the months after, despite the extension of the credit. The credit was primarily shifting what sales were to be had around….
There is little mystery to what’s happening. Inventory levels remain high because of overbuilding and months’ worth of record foreclosure levels. Millions of homeowners are underwater while the unemployment rate remains near 10%. The tax credit changed none of those fundamentals.
Certain segments of the housing market will indeed recover, eventually. But it will be the natural demographic forces of the Echo Boomers leaving their parents’ homes that leads that recovery, not a government tax credit scheme.
Charles Sizemore, CFA
Co-author of the recently-published Boom or Bust: Understanding and Profiting from a Changing Consumer Economy
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Lion’s Mane Mushroom
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, But it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes:
Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity.
Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins.
Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system.
Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome.
Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function.
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules. Today Be 100% Satisfied Or Receive A Full Money Back Guarantee Order Yours Today By Following This Link.
| Online: | |
| Visits: | 1,609,532,311 |
| Stories: | 8,168,000 |
Whistler Blowers, Insiders
