Yesterday, I spoke to a group of realtors; brokers and chief accountants, about 60 of them (roughly 85% of the group) mentioned that the administration should focus more on the real estate market.
I totally disagree, the real estate market is part of the economy recovery yes, but right now, the administration number one priority should be jobs growth, because let’s face it, most Americans are either out of work, worried about losing their jobs, have no credits or just can’t simply refinance because of lack of equity in their homes.
I don’t care how much money is available to the banking industry for mortgage financing, unless jobs and confidence return, it will not help the economy, consumers are not really in a position to buy despite the 35-percent drop in prices (and still decreasing) from the housing market,
Let’s be realistic, without jobs creation and consumer confidence, the housing market won't have enough demand to put consumers in position to either become new homeowners, or refinance their existing mortgage despite historic current low cheap financing rates, trust me, it’s not going to happen.
If we want to accelerate the recovery of the economy; job growth is the key, and the housing market will follow.
The realtors did not agree with me and reacted with disappointments to my ideas, and we ended up having big arguments, but I stood firmly on my ground, because I know I am right.
The realtors want the administration to fuel the banking system again with another bail out, trust me it’s not going to happen.
I understand their frustration; most of them have not sold houses for the past three years, and can’t get a job either, I know it’s really tough on them especially when you get in these types of situations.
Another bailout is not an option right now, we are currently at a little over a trillion dollar in deficit, and jobs growth should be our priority right now.
What the realtors don’t understand is that; with such a weak and fragile economy, home construction is shut down, a lot of consumers are walking away from homes they can no longer afford, the housing market is over supplied with unsold existing homes, foreclosures are sky rocking, even working consumers are still struggling to pay their mortgage bills, people are generally spending less, companies have slowed their restocking of shelves etc...
See; the more jobs we add, people will slowly be able to tackle away their fear of the current crisis and will become self sufficient, bringing back confidence among consumers, and believe me homes pricing will start climbing again.
Now, the President and Congress need to create strategies plans for employers to hire more workers, expand operations, promote small business assistance, and motivate consumers to start spending again to speed up the recovery of the economy.
We need to also bring our labor-intensive manufacturing jobs back in America, and folks; the auto industry in Michigan is the real evidence, we can do it through progressive tax incentives designed for the advanced manufacturing jobs creation, so jobs stay and grow in America, we don’t need to depend on China, we can do it, and now is the time, let’s bring the jobs back, I want to see more "Made in America" domestic products" worldwide, A S A P..
Just a year ago, the auto industry was heading toward bankruptcy, strong labor and green technology, including government’s assistance helped turn its faith around,
green is the way, no question about it, America’s future is about clean energy to reduce our dependence on foreign oil, I keep saying it everyday to the people I talk to, I talk to an average of about 40 to 100 on a daily basis.
Green chemistry is where the jobs are going to come from, you have my word on it, it’s my vision, we need those competitive tax laws that will reward companies for creating jobs by investing in green technology, can you imagine the number of jobs that we’ll create by going green?, and I know I am not wrong, this is a new era my dear friends.
We need to continue investing in green technology, (electric engines, lightweight materials, advanced battery industry, full-scale recycling and LEED gold-certified engine plants etc...), believe me, by doing so, we will rebalance our budget, the current deficit will be a thing of the past, and we’ll become again the prosperous America, the world most economic competitive leader that we are known for.
If the U.S. government continues to apply President Obama’s green legislation by strategically providing the funds needed for green investments, America will gradually stop depending on foreign oil while creating millions of jobs.
There is still a high degree of uncertainty regarding the economy, I know, but rest assure recovery is on the way, it’s going to take time.
We must thank President Obama for making tough and wise choices in turning this current recession around, we need to continue supporting him, he has America’s interests at heart, and hope that the ones who are skeptical about his achievements or just outright opposed to his stimulus package, acknowledged that failing to intervene would have led to the loss of million of jobs and complete economic chaos. Jobs growth through green technology is the way to go. Let’s go America.
Peace and love,
C. Nicolas