The latest Case Shiller home price index reports are out and once again Washington DC Metro area shows an increase in home pricing from the previous month. And for the year, incredibly DC is up 1% (the ONE percent). We have finally found the 1%. It is in Washington DC where housing prices are rising while the rest of us sit by and continue to see our values drop. What is the fundamental driver of home price increase? Unemployment. So when unemployment is low, prices tend to rise as there are more "buyers" in the market by virtue of their having jobs. Unemployment is low because our government is spending billions creating non-value added jobs that do nothing productive for the economy. Does anyone think it is a good idea that DC Metro has a rising house value index as compared to the rest of the US? Don't you find that odd? Our politicians are enjoying a booming economy that has been self created with your tax dollars. And these same folks enjoy rising home values. So if this 1% march and sit-in is really about inequality, then why isn't anyone marching on DC? Wake up people! The single largest class of greedy, power hungry people congregate inside the beltway. Do yourself a favor and direct your anger at the ones that have really created the inequality. And next year, replace the professional self-serving politicians with people that can actually do the job they are elected to do. Balance the budget! And reduce the size of government so that the rest of us can finally start to have equality when our home values finally start to rise.
http://blogs.wsj.com/economics/2011/11/29/a-look-at-case-shiller-by-metro-area-6/tab/interactive/
