a|44: Let me tell U something that is ironic.
First, the local newspaper said that houses are scare in this area because seniors are aging in place and people underwater in their mortgages are not selling. Seniors have always stayed in their houses as long as they can, but greater numbers might be doing so these days due to low interest rates. Can they afford a senior community and pay $2K a month or more as a fee (that includes meals), when they get about $600-700 interest on $100K in the bank?
Before the interest rates were lowered to criminal levels, that $100K would produce $5,000, $6000--even higher--per year in interest.
The ironic thing is that the price of beach properties, at least in Maryland, are at very low levels, IF you can even find a buyer.
Finally, I disagree that housing prices must come down to make housing affordable for the average guy. That won't happen. In urban areas where there is low unemployment, the law of supply and demand will keep house prices at current levels.
People who bought at the peak of the housing bubble will have to eat their losses or stay put. And with a national debt near $20T, interest rates cannot rise more than a few percent, at most. There is no inflation on the horizon for YEARS. Advances in technology, couple with immigrant labor, will keep wages down for YEARS.
The one hope is that President Trump can stimulate the economy by promoting a big infrastructure program and amending the tax code in a way that would cause companies to bring their liquid capital back to the U.S.
Given that there are strong evil forces who are hell-bent on destroying the Trump Presidency, I don't know that he will succeed.
I can appreciate his anger at Jeff Beauregard Sessions for recusing himself from investigating the Ruskie nonsense. However, he has, imo, demeaned himself and the Office of President by giving an interview to those heathens at the N.Y. Times. If AG Sessions gets mad and does a Spicer, President Trump will lose his base.
Right now, I think the odds of the President succeeding are only 50-50.
