I was chatting with a friend of mine the other day about his job, the economy, and housing prices. Technically, the financial experts will tell you the recession already ended and that the economy is recovering. That is hard to believe when we have high unemployment, low wages, high gas prices, increasing inventories of bank foreclosures and falling home prices.
How long will it take for our economy to recover? It’s hard to say at this point, but I would venture to guess not anytime soon. I personally think it went from bad to worse when Bush handed off the economical football to Obama. What’s worse is in the near future we may even have Trump as a strong possibility of winning the next election. Considering how desperate we have all become to have a real leader actually lead us, voters might want to give this old man a chance like Reagan. Unfortunately, Trump can’t even run casinos profitably even though the house always win. Go figure. You’re fired, Trump!
(Reuters) – Trump Entertainment Resorts Inc, the casino operator named for Donald Trump, filed for bankruptcy protection on Tuesday as recession and declining gambling revenues battered the company and its rivals.
The Chapter 11 filing marks the third plunge into bankruptcy for the company, which was created out of a restructuring in 2005. It also underscores the struggles facing the casino business as recession squeezes casino gambling.
Trump Entertainment owns and operates three casino hotels in hard-hit Atlantic City, New Jersey, including the Trump Taj Mahal, Trump Plaza and Trump Marina.
As far as house prices, I think they are still in a downtrend. The only area I think that is doing well in this real estate market are investor owned houses. They are buying them to rent them out for a positive cash flow. The people buying now in hopes that the market has bottomed and looking to resell in a year or two will be disappointed. If I didn’t own my own place already, then I would definitely be looking to buy in this market because you still have to pay rent. Unless you live with your parents, which is apparently the new trend for college graduates this year in both America and China.
Anna Kournikova
Hayden Panettiere
Cameron Diaz
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