Monday, January 30, 2006
Another Reason To Dislike This Area
I'm not sure, then, who the hell is buying all the McMansions that are springing up all over the place, but I'm sure those folks are busy patting each other on the back over the nice job they've done keeping down wages.
Oh please oh please oh please, can we get that lovely Toyota engine plant that's being rumored? No, probably not, and once Delphi goes tits-up and the Coopersville injector plant gets closed, I'm guessing that things will only get worse.
Actual salaries rose 6.74%. This would seem to indicate the article assume 6% inflation over two years...not sure if that number is accurate.
For Michigan, the average was 4.32% actual, -1.49% real. Welcome to the new Mississippi.
Regarding the McMansions, I think cheap credit (ARMS, neg-amort, etc) convincing a lot of people to get into the largest house they can afford. Those things will be unsellable in 5 years. Just image the costs to reroof and replace windows at 15-20 yrs. People are betting on appreciation and continuing overtime (jobs?).
All I can say is if things seriously tank, the self destructive UAW, the self serving mangement, clueless politicians and every other leach who has been sucking the tit of the auto industry for 70 years can stare at my pale white ass as I leave this state.
When I moved here I loved that auto industry, today, alas, the bloom is off the flower. There are far too many people in Michigan who believe it is their birthright to a job that pays twice the median US wage for high school skills. Too many politicians that fund votes on the back of the business taxes from a once rich industry. Finally, there are too many managers (I reserve the word leader for real men), who have no vision and take safe mildly losing bets over risky bets that might create new wealth.
arrggh! Bad Monday.