Reply #5: My neighborhood is a good example

[LiberalEsto]

Usually the houses in my neighborhood sell very fast, because we're conveniently located for public transit and the 40-year-old houses are much less expensive than new construction.

On two blocks neighboring our street, there are four perfectly nice houses that have been languishing on the market for months. Two years ago, there would have been bidding wars over these houses.

People are tapped out. Income is stagnating, and increasing numbers of jobs are vanishing overseas or going to people from other countries with H1-B visas. The younger generation is up to its collective ass in student loan debt. Increasing gas and food and utility prices have eaten into disposable and savable income.

As usual, the U.S. economy stinks for the average American during periods of Rethug control.