82: Percentage of Americans who report knowing someone out of work and looking for a job. Roughly one-third of Americans blame the stimulus plan for continuing problems with unemployment.
Cold, Hard Numbers: 82
category: By the Numbers, Main Content
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The Politics of Real Estate
Few industries are as profoundly impacted by the political machinations in Washington as the real estate industry. Whether it's old legislation like Jimmy Carter's Community Reinvestment Act or Barack Obama's massive mortgage bailouts, the U.S. political machine has a huge impact (usually bad) on the business of real estate.
Ideally, we could ignore politics. But here at the Bryan Ellis Real Estate Letter, we insist on seeing the world with clarity - including the reality of Washington's aggressive involvement in every facet of our business, from mortgage lending to real estate sales license; from loan modification regulations to appraisal requirements... every piece of our business is profoundly impacted by politics. So rather than stick our heads in the sand and ignore reality, readers of the Bryan Ellis Real Estate Letter choose to be informed and prepared.
Mortgage Industry News
Few things change more rapidly than the mortgage market, and with the increasing dominance of GSE's Fannie Mae and Freddie Mac over the mortgage business, it's more important than ever to keep up. Here are a few recent mortgage news updates:
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Mortgage News
- HAMP Success Tally Slowly Growing
- Western States Working Through Foreclosure Backlog Quicker than Eastern
- Biggest Down Payments in the Country Found in New Jersey
- President Bypasses Congress, Appoints Director of the Consumer Protection Bureau
- Federal Reserve Recommends Expanding GSEs to Turn Housing Market Around
- Mortgage Rates Likely to Remain Low for a While Longer
- Top Former FDIC, Wells Fargo Execs Say Fannie and Freddie Must Go
- FHA Continues to Extend Anti-Flipping Waiver
- More Homeowners Using Delaying Tactics to Slow Down Foreclosures
- Now that It’s Passed: The True Cost of the Payroll Tax Cut
About Bryan Ellis
Bryan Ellis is an Atlanta-based real estate analyst and publisher of the widely read newsletter "The Bryan Ellis Real Estate Letter". With over 200,000 subscribers - including real estate investors, agents, brokers, appraisers and other real estate professionals - the Bryan Ellis Real Estate Letter is among America's largest sources of unbiased coverage of politics and public policy for the real estate industry.
Bryan Ellis serves as editor in chief for the Bryan Ellis Real Estate Letter and is assisted by an extraordinary staff of writers, researchers and editors who are each real estate experts in their own right and who assure that the news we report is well researched, factual, and highly relevant to today's real estate industry.
Bryan is very happily married and has two wonderful daughters. He makes his home in the suburbs of Atlanta, Georgia. You can contact the team at the Bryan Ellis Real Estate Letter here.
There’s not much to comment on here. The title says the numbers LIE. I couldn’t agree more. I know that the unemployment rate is higher, maybe even double, what is told to us. That is simply because many people are not counted in that number. Many of my friends were laid off from their jobs related to lending, real estate and construction. They had been either a very short time on W-2 or were never a W-2. Once out of a job, they survived by a bit of savings and wit. They had never, NEVER EVER, collected unemployment compensation in their entire lifetime. For some it was nearly forty years of work. They did not go crawling to the unemployment office because they thought they would be back to work in a matter of weeks or just a few months. Well that didn’t happen in time. Once they were really in trouble, they were too late to apply. SO, the number of people who are collecting or who had collected and are still out of work is a heavy underestimation of the problem.
One can realize that the data used is the easiest way to calculate the value. However, the problem lies with the fact that the admin knows all that. They know that the data is unworthy. They have refused to acknowledge that fact and temper the news with other available data. They could add a few bits of info to bring the full reality to light, but they will not unless it serves their purpose (re-election and power).
To find out how people are faring, how about taking IRS data and comparing numbers relatively.
Of W-2 employees, by category, what is the income shift from year A to year B? Of self-employeds, what is the income downturn? Of self-employeds, what is the impact of new regulations (lending) and red tape having on the revenue and expenditures?
Not only are they interfering in the free markets, causing this nightmare in the first place, they are
putting bandaids on pimples so that they look better to the masses who don’t know that the pimple was caused by the doctor.