We just received our property tax statement for the coming year. Our land and house have declined another 10K or so. This doesn't bother me because, unlike many other areas of the country, our taxes will actually go down. We were also lucky enough to have bought low - really low, and so our equity gain is still close to 150K. Others have not been so lucky.
At the same time people are losing money in their most valuable asset, there is now ice cream (I believe it was Bryer's) that costs as much as $7.99 per quart. We didn't buy it...
Horror for US Economy as Data Falls off Cliff
The last month has been a horror show for the U.S. economy, with economic data falling off a cliff, according to Mike Riddell, a fund manager at M&G Investments in London.
"It seems that almost every bit of data about the health of the US economy has disappointed expectations recently," said Riddell, in a note sent to CNBC on Wednesday.
"US house prices have fallen by more than 5 percent year on year, pending home sales have collapsed and existing home sales disappointed, the trend of improving jobless claims has arrested, first quarter GDP wasn’t revised upwards by the 0.4 percent forecast, durables goods orders shrank, manufacturing surveys from Philadelphia Fed, Richmond Fed and Chicago Fed were all very disappointing." read the rest
Update: I just noticed that there's some discussion about this article going on over at Memeorandum
1 comment:
QE1 and QE2 have worked so well...Third times the charm!
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