dmiller
Housing has slowed down, big deal thats why I said buy all you can, because if they can't afford to buy what do they have to do? Get a tent. Who do you think will be subsidizing the renters since they can't afford to buy? Well I will tell you the government. I tried to explain that the removal of the $8,000 incentive stopped housing sales, and in the long run this slow down will cost the government more than the $8,000 they was going to spend. Employment depends on housing, when housing slumps, you can bet in a years time you will see unemployment increase. How many jobs are affiliated to housing being robust? How many jobs are related to technology development very few compared to housing. Housing starts with sell of product of raw materials which makes jobs harvesting this naterial. Then you have truckers transporting this raw material to manufactures who convert it to saleable products. These truckers buy fuel which pays tons of taxes, they buy tires, truck, oil, filters, trailers, every product that goes into the truck and the trailer will now be slowed down. Then the manufactured of the raw material is slowed down. The government loses all the revenues from the trucker buying product and paying taxes on earnings. You lose the manufcature paying taxes on earnings and employees paying taxes, and what each dollar generates in the economy is not just a dollar but turned over many times.
Now when all these jobs are lost the government jumps in and gives them food stamps, assistance with utilities, and assistance in renting a home. Rental will go up as the demand for rental will increase. If you don't think so look around and see how many apartment complex's keep popping up. I assure you they are money makers. I wish I had the resources to have about a 50 apartments in a apartment complex. A 2 story apartment complex is not as expensive to build as 2 single story aparmtent complex's are to build.
Answer I been right here and I have houses rented for good money to section 8 and they are renewing staying another year, and some of these tennants stay for years in one place. I can build a house on existing property for $70,000 and rent it all day long for $1100.00 a month check is sent to the bank direct deposit.
So I think I know what I am talking about. People have to have a place to stay, plain and simple.
JMO
Mickey
AI
