As I made the rounds this evening after work, I couldn’t help but notice that there’s almost nothing but bad news going on right now. Here’s a quick recap of the stories I came across:
A record 19 million U.S. homes stood empty at the end of 2008 and homeownership fell to an eight-year low as banks seized homes faster than they could sell them.
The number of vacant homes climbed 6.7 percent in the fourth quarter from the same period a year ago, the U.S. Census Bureau said in a report today. The share of empty homes that are for sale rose to 2.9 percent, the most in data that goes back to 1956. The homeownership rate fell to 67.5 percent, matching the rate in the first quarter of 2001.
Via Bloomberg
If you have a stable income (sadly a rare thing these days) and have a clean credit history, now is very clearly the time to buy a home. However, it also means there’s more people being put out than ever before in recent history. I do feel for those who lost their home because of losing their job due to corporate downsizing. Those who overextended themselves, and bought homes that were far more expensive than they could actually affording? Well… this “bleeding heart” gets a bit more cold in your direction. In fact, you’re a large part of the problem.
Speaking of downsizing…
Macy’s Inc. announced Monday that it will eliminate 7,000 jobs, almost 4 percent of its work force, and cut capital spending, reduce its contributions to its employees’ retirement funds and slash its dividend to preserve cash amid a severe pullback in consumer spending.
Via MSNBC
The vicious cycle continues. Consumer spending drops, corporations let people go in order to cut spending, 7,000 largely middle class workers lose their jobs, driving spending further down… you see where this is going.
The U.S. Army said the number of soldiers who committed suicide last year has increased for a fourth straight year. Army officials said despite an increase in funding for programs to help soldiers, they are having a hard time fighting the stigma attached to seeking professional help.
Via VOA News
And to top it all off, the people we claim to support and love while sending them into harm’s way are offing themselves more and more each year. I’m sure it would be “coincidence” if that turns around in 2009 with a Democrat in office.
