Author Topic: The Recession in Pictures  (Read 693 times)

Bindare_Dundat

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The Recession in Pictures
« on: March 19, 2009, 06:01:19 PM »
I know some of you don't like to or can't read at all  :), so here are some pictures of the economic situation in some places around the country.


Hotel property manager Paul Martinez kicks in a tenant's door after no one answered the knock during an eviction February 26, 2009 in Colorado Springs, Colorado. The tenant said that he was laid off from his job in a retail store two months ago and had fallen behind on his rent payments at the low-budget hotel. (John Moore/Getty Images)


Sheriff's Deputy Bill Ewell searches an apartment before an eviction team removed the remaining furniture February 26, 2009 in Colorado Springs, Colorado. The tenants, who had not paid the rent the previous month, had already left the apartment ahead of the eviction. (John Moore/Getty Images) #


Storm clouds hover near unfinished home lots during a break between storms after the dwindling new home sales market brought construction to a halt at a new home development December 16, 2008 in Rancho Cucamonga, California. Home construction took its biggest dive in 24 years in November to reach a record low. (David McNew/Getty Images) #


Hundreds of people stand in line as they look for jobs at the Miami Dade College Mega Job Fair 2009 on March 4, 2009 in North Miami, Florida. Job fairs are swamped with applicants as the economy continues to tank and many people find themselves unemployed. (Joe Raedle/Getty Images) #


People attend the REDC Foreclosure Home Auction in New York, in this photo taken March 8, 2009. About 1,400 people crowded into New York's first foreclosure auction over the weekend. One family bought a 2,062-square foot home in the Finger Lakes region of upstate New York for just $12, 500 or $6 per square foot, according to the New York Post. (REUTERS/Shannon Stapleton) #


As new home sales and housing starts hit record lows, empty lots, partially constructed homes and abandoned ones are seen in a subdivision on January 30, 2009 near Homestead, Florida. Prices in November of 2008 declined 8.7 percent from a year earlier, the biggest drop in records going back to 1991, the Federal Housing Finance Agency reported. (Joe Raedle/Getty Images) #


Brittney Nance holds her head as she works on her laptop in her motel room at the Old Town Inn March 5, 2009 in West Sacramento, California. Brittney and her family were evicted from the house they were renting after her husband, Steve Nance, lost his job. The couple and their three children are living in a budget motel while they save enough money for deposit on a new rental home, but are finding it difficult as they pay nearly $1200 a month for the motel room. (Justin Sullivan/Getty Images) #


Dodge SUVs sit parked in the Atlantic Marine Terminal at the port of Baltimore February 18, 2009 in Baltimore, Maryland. As the worldwide economic downturn persists and automobile sales continue to slow, more than 57,000 new automobiles sit idle in the port of Maryland. The state of Maryland recently paid $5.26 million for almost 15 acres of additional car storage space near the port, freeing space for more cargo. (Chip Somodevilla/Getty Images) #


Unfinished homes in a subdivision in Maricopa, Arizona are seen through yellow caution tape and fencing set up to prevent trespassing February 25, 2009. Maricopa was one of the fastest growing towns in America until vast unemployment and the real estate bust swept through the country. Now, approximately 75 percent of residents owe more money on their mortgages than their homes are actually worth. Some developers are left to leave new homes unbuilt due to the slow economy. (Joshua Lott/Getty Images) #


Shoppers walk through a nearly empty aisle at a Circuit City store in Las Vegas, Friday, Feb. 27, 2009. Circuit City filed for Chapter 11 bankruptcy protection in November as it faced pressure from vendors, heightened competition and waning consumer spending. Later it announced it would liquidate its 567 U.S. stores, cutting more than 34,000 jobs. (AP Photo/Jae C. Hong) #


A padlocked chain holds the door shut on a foreclosed duplex as pedestrians walk by Friday, March 6, 2009 in the Bronx, N.Y. Foreclosures are spreading by epidemic proportions, expanding beyond a handful of problem states and now affecting almost one in every eight American homeowners. (AP Photo/Julie Jacobson) #


Weeds have taken over a row of vacant, unfinished new homes Tuesday, Feb. 17, 2009 in Gilbert, Arizona. (AP Photo/Matt York) #



A section of the Rocky Mountain News newsroom sits empty on February 27, 2009 in Denver, Colorado. The edition on Friday the 27th was the last one for the nearly 150-year-old daily, Colorado's oldest newspaper. The owner E.W. Scripps Co. announced the day before that the paper was closing down after efforts to sell the money-losing newspaper failed. (John Moore/Getty Images) #


home construction site stands idle where construction has been halted, on February 24, 2009 near Riverside, California. U.S. single family homes prices continued to plummet for the second year, falling 8 percent in the fourth quarter of 2008 compared to the year before. It was the biggest decline in the 21-year history of the Standard & Poors/Case-Shiller US national home price index. (David McNew/Getty Images) #


A locked gate blocks the entrance at the out-of-business San Rafael Chevrolet Saab Hummer Hyundai March 3, 2009 in San Rafael, California. (Justin Sullivan/Getty Images) #


Katie Kupferschmid (left) and Lisa Arata test gold jewelry at a gold party March 12, 2009 in West Orange, New Jersey. Gold parties are a growing trend in the United States where a hostess invites friends and family to bring their unwanted gold to sell for extra income. The price is based on karat content, weight and the market price of gold that day. (Daniel Barry/Getty Images) #  Wrong, they should save their gold.


A homeless resident of a tent city in Sacramento, California wears an American flag jacket on March 10, 2009. This tent city of the homeless is seeing an increase in population as the economy worsens, as more people join the ranks of the unemployed and as homes slip into foreclosure. (Justin Sullivan/Getty Images) #

powerpack

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Re: The Recession in Pictures
« Reply #1 on: March 20, 2009, 11:27:18 AM »
Sad it really is.
Here in South Africa 1000s of jobs have been lost because of the recession.
The steel industry my biggest money spinner has collapsed.
The mining and cement industry 2 of my biggest clients are stock pilling but will be switching of soon if things dont get better.
Many mutli million buck projects I had planned this year have all been shelved.
I dont have a hope in hell of reaching budget.
It is tough for every one!

Hereford

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Re: The Recession in Pictures
« Reply #2 on: March 20, 2009, 04:44:01 PM »
15 acres cost 5.26 million in Maryland?

Really? I thought Cali was bad!

Eyeball Chambers

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Re: The Recession in Pictures
« Reply #3 on: March 20, 2009, 04:54:35 PM »
Sad it really is.
Here in South Africa 1000s of jobs have been lost because of the recession.
The steel industry my biggest money spinner has collapsed.
The mining and cement industry 2 of my biggest clients are stock pilling but will be switching of soon if things dont get better.
Many mutli million buck projects I had planned this year have all been shelved.
I dont have a hope in hell of reaching budget.
It is tough for every one!


One of my family members had a gigantic contract on a cement company that fell through.  :(
S

MB

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Re: The Recession in Pictures
« Reply #4 on: March 20, 2009, 05:21:04 PM »
Sadly, the home prices have not fallen enough, especially in CA. 

Hereford

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Re: The Recession in Pictures
« Reply #5 on: March 20, 2009, 05:29:56 PM »
Sadly, the home prices have not fallen enough, especially in CA. 

I bought mine for 42% of what the previous owners bought it for in 2005. Cali is really hit or miss nowadays. A lot of people are trying to get their money back out of dumbass real estate purchases, and they aren't going to sell their shit for what they want.

MB

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Re: The Recession in Pictures
« Reply #6 on: March 20, 2009, 05:52:13 PM »
so would that be a direct result of what Peter Schiff has talked about.  Without the bailouts, they would be falling right?

Peter is right.  Home prices are still above wages, but instead of letting them adjust naturally, the government keeps doing more of what caused the bubble in the first place (lowering interest rates and bailing out lenders that made bad investments). 

Bindare_Dundat

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Re: The Recession in Pictures
« Reply #7 on: March 20, 2009, 06:03:09 PM »
Peter is right.  Home prices are still above wages, but instead of letting them adjust naturally, the government keeps doing more of what caused the bubble in the first place (lowering interest rates and bailing out lenders that made bad investments). 

What a joke. They are pouring more gasoline on the fire, as Peter would say.

big L dawg

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Re: The Recession in Pictures
« Reply #8 on: March 20, 2009, 08:15:39 PM »
thankfully none of this affects getbiggers.as we are all independently wealthy.
DAWG

Bindare_Dundat

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Re: The Recession in Pictures
« Reply #9 on: March 20, 2009, 10:12:22 PM »
thankfully none of this affects getbiggers.as we are all independently wealthy.

lol