The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: John Vosilla who wrote (37491)	8/10/2005 3:09:33 PM
From: Tradelite	Read Replies (2) of 306849

There always seems to be something fishy about the jobs report. For example, it refers to "payroll" jobs. Bazillions of people work in companies throughout the DC area and call themselves "contract workers" or "consultants"--they aren't on a company payroll. They include highly trained and very specialized engineers, accountants, IT professionals, you name it. The last time I was on a payroll was around 1987 but did several types of paid-but-not-payroll work since that time. The Census Bureau only asks if I or anyone else in the household is employed when it does its 10-year surveys. The government has no clue what my younger son is doing for a living these days and I'm not sure they count my older son, either, who works out of his home for a company in another state. I wonder how they count a friend of mine, who retired from his DC law firm and practices law solo out of his house. I also think there's something odd about the belief that housing prices having to correlate with incomes. A lot of people buy homes with money that isn't income--it's savings, or inheritance, or gifts, or equity from past homes. Or they buy with two incomes or even more.

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