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October 10, 2008 – Comments (4)

... time to retrain to a new occupation permanently.  In my Scotland's Bank post last week I pointed out some key differences in housing in Britain compared to here, the fact that they share housing, one person per bedroom in a home.

With a down turn economy and struggling to make ends meet there is huge room for North America to increase household size, and I was saying that has to come.  I worked on the census in 97 and at that time you found 3 uncoupled single adults sharing a single bedroom apartment because they could only find part time work.  

Today Financial Armageddon  has an excellent piece with housing data and how increased household size will create housing demand destruction for years.  There is also some great data on what those 18 million empty homes in the USA look like, and it looks like 14 million of them ought to be occupied as only 4 million are cabin or vacation type properties.  They are just sitting there doing what, waiting for a better time to sell?

My read on the housing industry is that it is going to be bad for years and wages are going to go way down, if you can find a job in the industry...

 

4 Comments – Post Your Own

#1) On October 10, 2008 at 12:49 AM, awallejr (85.48) wrote:

Actually it's the impact of the aging of america on housing that needs to be watched.  As people get older they will probably want to downsize.  Or you might even see multi generations living in the same households (kids moving back into parent's home to care for them in the process).  Finally how will immigration impact everything.  A LOT of variables to be sorted out.  I am no bull on new housing construction.

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#2) On October 10, 2008 at 1:33 AM, dwot (72.34) wrote:

Tons of reading lately, my sharing page.

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#3) On October 10, 2008 at 1:50 AM, dwot (72.34) wrote:

Shipping is going be a disaster if they can't access funds to ship....

The things I'd have never predicted...

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#4) On October 10, 2008 at 8:24 AM, SolidDEF (< 20) wrote:

Credit is the dog and stocks are the tail.  Government is NOW trying to wag the dog.  Which I think could have been fixed after the dot-com phase.  Banks are have so many bad loans and they don't want to give more out.  Makes sense.  Oh and bailing out Wallstreet before mainstreet is the way to go.  If Walmart can't get a loan how am I going to get a loan for a car or house (as if I were to buy now.)  We are in for a hurting.

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