Residential real estatewill continue to reflect moderate to weak demand as job growth remains less than might be expected coming out of a typically deep recession, unemployment remains over 8.5% at year-end 2011, and the number of unemployed remains staggering. Also driving the tepid demand for homes is the level of mortgage rates.
The bankrupting character of states' and municipalities' financial commitments, including both pension and health care obligations, increasingly force administrators and policy makers to evaluate trade-offs amongst various alternatives and for various constituencies. Will lawmakers require bailouts by taxpayers of defined benefit plans and other pension plans where the problem was not the mathematics ( meaning fraud) but the application of math to situations that were structurally flawed, unsustainable and, ultimately, unfair.
Disapproval ratingsof elected officials in Washington will continue to be high as major progress in job creation remains modest by historical standards and the financial condition of the federal government continues to deteriorate.
Charles A. Campbell, Senior Sales Trader, MILLER TABAK & CO
Formal Disclosure: I, Charles A. Campbell, hereby certify that all of the views I will express in our scheduled Public Appearance accurately reflect my personal views about the topic(s). I also certify that no part of my compensation was, is, or will be directly or indirectly related to the specific views contained in this Public Appearance.
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