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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: jrhana who wrote (38959)8/24/2005 4:41:08 PM
From: Lizzie TudorRead Replies (4) of 306849
 
well, then if that were the case that all these tradespeople were being hired, then we would see that in the employment numbers for the past 5 years which we most certainly did not. The reason all these cities and local municipalities are broke now, vs. being flush with cash in the 90s, is because workers pay a skewed proportion of taxes in the US what with payroll taxes and state/local income and whatnot. No workers, no taxes= state and local govts broke.

If we really had an equal boom in the "trickle down" tradition with real estate as we did with the tech boom in the 90s or even the 80s hiring climate I would be all for it but that is not what is happening.
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