US econ stats.

01-26-2009, 02:38 PM

http://money.cnn.com/news/storysuppl...pmap/index.htm

So do you think it's really bad?

Is it effecting your area?

01-26-2009, 02:44 PM

I cannot believe Michigan and Cali rank in the higher percentages.

I wonder why?

01-26-2009, 02:45 PM

I was a bit shocked to see the large lead FL has on foreclosures myself.

acarr · 01-26-2009, 02:51 PM

I think Michigan and California are doing real bad. However, I think you could add in to the really bad Arizona. Phoenix and the surrounding area has about 70% of the population and the there are neighborhoods here that 90% of the houses are in foreclosure. The biggest things this state operates on is real estate and travel. Both are bad for bad economic times. Tucson is a little shielded with Ratheon and the production of laser guided missiles and the University of Arizona but who knows how long the the missiles will last. The University is looking at a $100 million dollar cut in funding and the resulting cutting of programs.

01-26-2009, 02:58 PM

The best place to be in a bubble is floating at water level. How many politicians can do that? Don't spend more money than you have and expect there to always be more. Same with the money lenders. If you lend to people who can't pay, for things that cost more than they're worth, don't be surprised and don't complain to me if they don't pay. Not my first bubble, here. Wont be the last. Unharmed.

01-26-2009, 03:50 PM

Quote:

Originally Posted by BC-Axeman

The best place to be in a bubble is floating at water level. How many politicians can do that? Don't spend more money than you have and expect there to always be more. Same with the money lenders. If you lend to people who can't pay, for things that cost more than they're worth, don't be surprised and don't complain to me if they don't pay. Not my first bubble, here. Wont be the last. Unharmed.

gettysburgfreak · 01-26-2009, 06:45 PM

I know its effecting me. Can't find a job in my major and when I do find a job it doesn't pay more than 25k. hopefully things will get better sooner than later, seems like you cant even watch the news any more with out some bad economic news.

Smokin Gator · 01-26-2009, 06:52 PM

I can tell you that it is getting pretty bad in Florida.

01-26-2009, 07:08 PM

It has been messed up in Calif. since the Clinton bubble popped. We recalled our Governor because it was so bad. Arnold had some good ideas but couldn't get them through our congress so it seems he not only gave up but went over to the other side. All of their plans to "fix" the problems are guaranteed to mess things up worse, while not even looking at the causes of the problems. If we ever get out of this mess it will be no thanks to them. Yet somehow I'm optimistic. Maybe there will be a culling and we will come out of it stronger. "Be prepared". I'm glad I was a Boy Scout.

Thrak · 01-26-2009, 08:03 PM

Ironic that Cali and Michigan, the most "liberal" states in the nation, also have the highest rates of unemployment...

When will the people learn?!?

Ratters · 01-26-2009, 08:18 PM

It's actually working out in my favor cause I can now afford to buy a house, but it sucks all my friends that are out of work and having a REAL HARD time finding a job. But yeah, all of the homes around here are either short sales or forclosures.

01-26-2009, 09:11 PM

Quote:

Originally Posted by Ratters

It's actually working out in my favor cause I can now afford to buy a house, but it sucks all my friends that are out of work and having a REAL HARD time finding a job. But yeah, all of the homes around here are either short sales or forclosures.

Yea i'm in the same boat myself, I kinda feel guilty doing better then ever when family and friends struggle.

AAlmeter · 01-27-2009, 12:03 AM

Here in WNY, we've always been up the messy creek with no paddles.

We haven't suffered much from foreclosures, as a matter of fact our housing prices have only declined 1-2%, solely because we have never received the benefit of the real estate bubble. We are, however, hurting on the employment front. Over the last 30 years we've lost a good deal of our manufacturing jobs due to a heavy union presence in the area. We keep up our government services, which in theory boosts quality of life, but also boosts taxes and discourages businesses from reinvesting in the area.

We have been suffering because many of our previously thriving sectors service areas outside of WNY, and they've taken hits as the country drops.

Personally, I've been out of work since Halloween, and within the next month or so I will have to say adios to my house and move elsewhere. Looks like I'll be going to Alaska (as if Buffalo isn't cold enough), in order to pull in enough cash to keep the house out of foreclosure (I bought it a month before being laid off). Unfortunately (for me) I purchased the house with the expectations of being able to refurbish it and get some sweat equity. I'm nearly finished, but I simply cannot afford what it will take to refinish the kitchen to the point of making it salable. So I'll have to sit on it for a while and hope for the best....can't even rent the damn place at this point!

01-26-2009, 02:38 PM	#1
Ace$nyper Guest Posts: n/a	US econ stats. http://money.cnn.com/news/storysuppl...pmap/index.htm So do you think it's really bad? Is it effecting your area?

01-26-2009, 02:44 PM	#2
Tombstone Guest Posts: n/a	Re: US econ stats. I cannot believe Michigan and Cali rank in the higher percentages. I wonder why?

01-26-2009, 02:45 PM	#3
Ace$nyper Guest Posts: n/a	Re: US econ stats. I was a bit shocked to see the large lead FL has on foreclosures myself.

01-26-2009, 02:51 PM	#4
acarr Have My Own Room Join Date: Oct 2008 Posts: 1,307 Trading: (34)	Re: US econ stats. I think Michigan and California are doing real bad. However, I think you could add in to the really bad Arizona. Phoenix and the surrounding area has about 70% of the population and the there are neighborhoods here that 90% of the houses are in foreclosure. The biggest things this state operates on is real estate and travel. Both are bad for bad economic times. Tucson is a little shielded with Ratheon and the production of laser guided missiles and the University of Arizona but who knows how long the the missiles will last. The University is looking at a $100 million dollar cut in funding and the resulting cutting of programs.

01-26-2009, 02:58 PM	#5
BC-Axeman Guest Posts: n/a	Re: US econ stats. The best place to be in a bubble is floating at water level. How many politicians can do that? Don't spend more money than you have and expect there to always be more. Same with the money lenders. If you lend to people who can't pay, for things that cost more than they're worth, don't be surprised and don't complain to me if they don't pay. Not my first bubble, here. Wont be the last. Unharmed.

01-26-2009, 06:45 PM	#7
gettysburgfreak Patriot Join Date: Oct 2008 Location: The Mitten Posts: 1,442 Trading: (2)	Re: US econ stats. I know its effecting me. Can't find a job in my major and when I do find a job it doesn't pay more than 25k. hopefully things will get better sooner than later, seems like you cant even watch the news any more with out some bad economic news. __________________ Author ofeath, Disease, and Life at War: The Civil War Letters of Surgeon James D. Benton, 111th and 98th New York Infantry Regiments, 1862-1865.

01-26-2009, 06:52 PM	#8
Smokin Gator Just plain insane! Join Date: Oct 2008 Location: The Swamp Posts: 6,237 Trading: (106)	Re: US econ stats. I can tell you that it is getting pretty bad in Florida. __________________ Check out the Cigar Asylum Newbie Sampler Trade

01-26-2009, 07:08 PM	#9
BC-Axeman Guest Posts: n/a	Re: US econ stats. It has been messed up in Calif. since the Clinton bubble popped. We recalled our Governor because it was so bad. Arnold had some good ideas but couldn't get them through our congress so it seems he not only gave up but went over to the other side. All of their plans to "fix" the problems are guaranteed to mess things up worse, while not even looking at the causes of the problems. If we ever get out of this mess it will be no thanks to them. Yet somehow I'm optimistic. Maybe there will be a culling and we will come out of it stronger. "Be prepared". I'm glad I was a Boy Scout.

01-26-2009, 08:03 PM	#10
Thrak .. the man from Nantucket Join Date: Jan 2009 Location: Canton, GA Posts: 558 Trading: (2)	Re: US econ stats. Ironic that Cali and Michigan, the most "liberal" states in the nation, also have the highest rates of unemployment... When will the people learn?!?

01-26-2009, 08:18 PM	#11
Ratters Have My Own Room Join Date: Oct 2008 Posts: 1,848 Trading: (2)	Re: US econ stats. It's actually working out in my favor cause I can now afford to buy a house, but it sucks all my friends that are out of work and having a REAL HARD time finding a job. But yeah, all of the homes around here are either short sales or forclosures.

01-27-2009, 12:03 AM	#13
AAlmeter F.U.B.O. Join Date: Oct 2008 First Name: Adam Location: Buffalo Posts: 288 Trading: (0)	Re: US econ stats. Here in WNY, we've always been up the messy creek with no paddles. We haven't suffered much from foreclosures, as a matter of fact our housing prices have only declined 1-2%, solely because we have never received the benefit of the real estate bubble. We are, however, hurting on the employment front. Over the last 30 years we've lost a good deal of our manufacturing jobs due to a heavy union presence in the area. We keep up our government services, which in theory boosts quality of life, but also boosts taxes and discourages businesses from reinvesting in the area. We have been suffering because many of our previously thriving sectors service areas outside of WNY, and they've taken hits as the country drops. Personally, I've been out of work since Halloween, and within the next month or so I will have to say adios to my house and move elsewhere. Looks like I'll be going to Alaska (as if Buffalo isn't cold enough), in order to pull in enough cash to keep the house out of foreclosure (I bought it a month before being laid off). Unfortunately (for me) I purchased the house with the expectations of being able to refurbish it and get some sweat equity. I'm nearly finished, but I simply cannot afford what it will take to refinish the kitchen to the point of making it salable. So I'll have to sit on it for a while and hope for the best....can't even rent the damn place at this point!