RSSUnemployment Applications Rise by 13,000 as Jobless Benefits Increase to 462K
Hey America, how’s that Obama “hopey, changey” stuff working out for you?
Welcome to the President Barack Hussein Obama job recovery of 2010. First time claims for unemployment aid rose by 13,000 to a seasonally adjusted 462,000. But wait, the Obama economy gets even worse … September home foreclosures top 100,000 for first time. According to RealtyTrac, banks foreclosed on 102,134 properties in September, the first single month above the century mark. I supposed this is George W. Bush’s fault?
Will this also by an Obama “Oops” as he did not realize that his disastrous economic policies of wasted stimulus money and no “shovel ready” jobs would cause sustained unemployment, further job loss and people to lose their homes?
Posted October 14, 2010 by Scared Monkeys Barack Obama, Economy, Hope and Change, Jobs, Obamanation, Obamanomics, Real Estate, Unemployment | 2 comments |
10 Worst Places to Live in America … Cleveland, Detroit, Las Vegas & Miami Among Many
The 10 worst places to live in America as per WalletPop using a variety of criteria, including unemployment rates, health data, the number of foreclosures, crime statistics, climate and other measures of misery. High on the list and a common thread in many of these places is political corruption.
1. El Centro, California – Population: 41,241
Welcome to the home of the highest unemployment in the United States at 27.5%. OUCH!
One in four people here are out of work and the city holds the not-so distinguished honor of having the highest unemployment rate — 27.5%.
The desert city, which is located in Imperial County just across the border from Mexicali, has a jobless rate triple the national average of 9.5% thanks to the seasonal fluctuations of field laborers.
2. Cleveland, Ohio – Population: 431,363
Cleveland heads the Forbes list of “most miserable” US cities. What would Howard the Duck & Cherry Bomb say?
LeBron James isn’t the only person leaving Cleveland. The U.S. Census estimated that 2,658 people left the city in 2009, the largest numerical drop among America’s major cities.
Forbes also put Cleveland atop its list of most miserable U.S. cities, factoring in its high unemployment (although at 9.1% it’s below the national average), high taxes, lousy weather, political corruption and lousy sports teams — and that was before LeBron decided to leave.
Nicknamed the “Mistake by the Lake,” Cleveland ranked near the bottom when looking at corruption on the Forbes list. “Northern Ohio has seen 309 public officials convicted of crimes over the past 10 years,” according to the Forbes story, which cites data from the Justice Department. “A current FBI investigation of public officials in Cuyahoga County (where Cleveland is located) has ensnared more than two dozen government employees and businessmen on charges including bribery, fraud and tax evasion.”Cleveland also ranks in the top third of all metro areas for foreclosure rates. The city has thousands of abandoned homes, in part because it provided down payments through the federally-funded Afford-a-Home program to many people who could not afford their mortgage payments.
3. Detroit, Michigan – Population: 871,121
Conveniently enough, Detroit is #4 with a bullet on Forbes “most miserable” city’s list.
Detroit is America’s most dangerous city, with 1,220 violent crimes per 100,000 people, according to violent crime statistics from the FBI’s latest uniform crime report, issued in 2008. It’s heavy reliance on the stumbling auto industry hasn’t helped matters much. Motown also boasts high foreclosure and unemployment rates
Posted August 7, 2010 by Scared Monkeys Child Welfare, Corruption, Crime, Economy, Education, Jobs, mortgage, Real Estate, Unemployment | 20 comments |
Real Estate: Top Underwater Mortgage Cities
According to reports, 20% of U.S. homeowners owing more on a mortgage than their homes are 
worth. The number of “underwater” borrowers is bad for them, but an opportunity for other first time home owners who were previously shut out of the process.
Real-estate Web site Zillow.com said that overall, the number of borrowers who are underwater climbed to 20.4 million at the end of the first quarter from 16.3 million at the end of the fourth quarter. The latest figure represents 21.9% of all homeowners, according to Zillow, up from 17.6% in the fourth quarter and 14.3% in the third quarter.
“What’s going on here is that you don’t have any markets that have turned around and you have new markets, like Dallas, that have joined the ranks” of communities where home prices have fallen, said Stan Humphries, a Zillow.com vice president.
What is interesting is the percentage of the top 10 “underwater” cities in the United States. As the Obama Administration looks to stabilize the housing market with tax dollars, why is it that the large percentage of underwater borrowers all seem to be in the same states? California, Florida and Nevada seem to be the worst hit.
Question One: Is the percentage of underwater borrowers inflated by some 4 or 5 states that have been hit worse than others where housing prices prior to the down turn in the economy were highly inflated? Not to make light of the situation, but does this mean that the government is going to help with car payments as well? The minute you drive off the lot in a new car the value of the car drops below what you just paid for it. Are bailouts next for car loans?
Question Two: Your home is an investment like a stock. Why would one stop paying their mortgage just because, at the present, the mortgage may be more the the worth of the home? Does that mean when home prices eventually come back in a cyclical manner that these same people who got tax payer bailouts through government incentive mortgage plans are going to pay back the difference?
The Man From Hope Tells the Candidate of Hope to How Some Hope … Bill Clinton’s Advice to Obama
Dude … Where’s the Hope?
Well that did not take long into the Barack Obama Presidency for former President Bill Clinton to start five newby Obama some pointers on how to be President. Clinton tells ABC News that Obama gets and “A” and then uses the proverbial “BUT”. Gee Bill, you might have just used the phrase, “in all due respect”.
Actually what Clinton might have basically said was … Dude, ya won the election by down talking the economy and some how every thing collapsed just at the opportune time you ran for President. However, you are now the President and your job is to make Americans confident, not want them to slit their wrists. That’s what Clinton really meant to say.
The irony in the “Man from Hope” telling the “Candidate of Hope” that he must act now as a President act more hopeful in talking to the American public during these economy times is stuff that SNL skits are made of.
Regarding Obama’s bleak warnings that “the economy could get worse before it gets better,” and that the economic stimulus program is only the beginning of the end of the economic crisis, Clinton said, “I like the fact that he didn’t come in and give us a bunch of happy talk. I’m glad he shot straight with us.”
But he added, “I just want the American people to know that he’s confident that we are gonna get out of this and he feels good about the long run.”
Posted February 20, 2009 by Scared Monkeys Barack Obama, Bizarre, Economy, Politics, Real Estate | 10 comments |
Dog Day Real Estate Market: Michael Vick Dogfighting House on the Auction Block … Fails to Sell Again
The Michael Vick dog fighting house is back on the market and will be auctioned off again this Friday at 4:00 pm. Maybe this time the realty group will accept the offer for the 5 bedroom Surry County home instead of being greedy and taking a proverbial bath as the real estate market in the US has gone to the dogs.
Motley’s Auction and Realty Group is handling the sale of the five-bedroom house in Surry County. The company’s Web site says the bidding Friday will start at $590,000.
