"TIME IS MORE VALUABLE THAN MONEY. YOU CAN GET MORE MONEY, BUT YOU CANNOT GET MORE TIME." Jim Rohn. And while this is certainly true, home buyers and folks receiving unemployment benefits both got the word that a bit more money and time is coming their way.
Just on Friday, President Obama signed into law a bill that extends unemployment benefits and the First Time Home Buyers tax credit, which is also being expanded to include benefits for homebuyers who aren't on the first time around buying a home. If purchasing a home is in the cards for you or anyone you know, you can get all the details of the homebuyer's tax credit in this week's Mortgage Market Guide View article below. But first, here are a few additional highlights from last week...including important job market news.
Last week's official Jobs Report showed that there were 190,000 jobs lost in October, higher than the 175,000 job losses that were widely expected. In addition the Unemployment Rate rose to 10.2%, quite a bit higher than the 9.9% expected, and the highest Unemployment level since 1983.
However if I think back to that time we had the growth of the personal computer and a few other technological changes to the world we lived in. Back then in 1983 a Cell phone was plugged into your car or as big as a lunch box. It was a rare business person who owned a personal computer of any type.
We may not be able to get back time but we are back to a time of High Unemployment. What will be the driving force of the work force of our next faze?
Movies are digital and FX is all in a computer. Technology is building remote controlled planes to drop remote controlled bombs. Pilots are so bored that they overshoot their destination by an Hour.
Banks and their regulators are being duplicitous and difficult to fathom. The Government is giving them money fast. Telling them that this money is so you can loan. Then the other department of the government is looking over their books with a fine tooth comb to make sure that they only make loans of the highest caliber that will surely not default.
So how do we Real Estate Agents sell anything if the loans are not going to be approved and funded?
What we need now is strong sources of Employment. Strong borrowers. And Strong Banks willing to make the loans. This we can all see as the three legs of the support for our marketplaces.
It is the Holiday shopping season next. Here is to hoping the numbers are good for us all.
Keith
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment