If housing price can be made to be 15x the average annual income, and the realtor's fee stays at 6%, and people continue to move once every 10 years on average, fully 10% of the population can be employed in the real estate industry. The 5 points spread between overnight rate and 30-yr mortgage can provide another 35% of population jobs in the banking industry. The 1.5% collected by the town in real estate tax can yield another 15% employment in local government jobs. The remaining 40% of the population are not looking for jobs. Voila! 0% unemployment rate. Ain't "GDP" great?
Of course, all this presume the poor Indians and Chinese keep sending us goods in exchange for our paper.
Market Data 
Markets 
AI
