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I'm no economist, but I agree with this. One, the real estate market is once again through the roof while homeownership is at the lowest it's been in decades.
by arenaninja 11y ago
I'm no economist, but I agree with this.
One, the real estate market is once again through the roof while homeownership is at the lowest it's been in decades. Seems to me that wealthy people, domestic and foreign, are parking their money in real estate assets, and banks refuse to go through with the foreclosures they've been holding onto since around '09
Next is oil. It's possible that the full brunt of the collapse in oil prices hasn't been felt, but most oil companies were profitable to the tunes of billions of dollars, again. Profit margins were only off about 30% from last quarter, and the predicted merger/acquisition apocalypse analysts were predicting hasn't materialized, while oil prices are on their way to recovery, even though the dollar is ridiculously strong against other currencies at the moment
Hiring has pulled back, wages are stagnated, consumer spending is down, but the stock market is at record highs. Honestly, for the most part I wish the government had let it crash