How the mortgage interest deduction subsidizes the spending of wealthy families at the expense of middle class families. Average California mortgage deduction for filers is over $18,000 versus $9,900 in Texas.
One of the sacred cows of our economy revolves around the mortgage interest tax deduction. Home buying is heavily subsidized in the United States. The Federal Reserve has injected trillions of dollars in purchasing mortgage backed securities and other questionable assets all for the purpose of keeping interest rates low. Yet this is one area […]
Some American families are $133 a month away from Great Depression like problems – 1 out of 7 Americans receiving food assistance at an average of $133 per person.
The U.S. government is now spending roughly $5.6 billion per month on food assistance helping out 41,836,000 Americans. How bad is it for the lower economic strata of families in our economy? In January of 2007 we had 26,000,000 Americans on food assistance. The economic crisis has added 15,800,000 Americans onto the food assistance program […]
Fed extends a helping hand to Hilton Hotels and takes over malls across the country – The Federal Reserve clandestine bailout of the $3 trillion commercial real estate industry. South Florida apartment building prices down 52 percent from peak.
If you think residential real estate is having problems, you should shift your gaze to the mammoth issues confronting commercial real estate. Little is mentioned about commercial real estate (CRE) in the mainstream media yet this is a $3 trillion market (or twice the annual GDP of Texas). Much of the problems in CRE are […]
The debt end game – Top 10 percent of families own an average of $700,000 in stocks while the next 15 percent own an average of $53,000. The other 75 percent are insignificant players by Wall Street standards.
The government recently announced on a slow Friday a $1.29 trillion budget deficit as if it were no big deal for the completed fiscal year. In fact, this was spun as grand news since the previous budget deficit topped $1.4 trillion. We are now reaching a nationwide tipping point of debt. The U.S. Treasury and […]