I keep hearing from the Republicans that we have a great economy, but I really don't see any evidence of that. Gas prices are outrageous, causing the price of most things to be more expensive. Wages are still stagnant, and in inflation-adjusted dollars, wages are declining. Unemployment in the DFW area is 5.5% [5.2% after seasonal adjustments]. Good jobs are still being shipped overseas, and replaced with service-oriented jobs paying much less. As if all this wasn't bad enough, now homeowners are being squeezed.
The Dallas Morning News tells us today that home foreclosures have risen sharply. Over 3,800 homes are threatened with foreclosure next month in the Metroplex area. For the first 9 months of this year, the figure is over 28,000 home foreclosures posted. Several area counties are showing a sharp rise in foreclosures:
Rockwall County...............up 68%
Denton County...............up 38%
Collin County...............up 36%
Dallas County...............up 32%
Tarrant County...............figures not available
These figures are remniscent of the late 80's, when thousands of people lost their homes. The rising cost of living expenses, coupled with stagnant or declining wages, is forcing many families out of their homes.
Thanks for the wonderful economy, Georgie, but please stop now. If it gets any "better", I won't be able to afford to eat!
But people do insist on living above their means.
ReplyDeleteI called a friend to see if she would like to grab a drink after work.
She couldn't "afford" it. She didn't have any money.
The thing is: she had just gotten paid three days before.
BUT she bought a big house in a very tony neighborhood. She bought a freakin' $10,000 tv. She bought a Lexus.
But she can't "afford" a drink.
I think lots of folks are like her......